Rate relief and customer growth lift IDACORP's Q2 2026 EPS to $1.79, while capital spending nearly doubles
IDA sits 23% above its 52-week low of $120.695.
Summary
IDACORP's Q2 2026 diluted EPS rose to $1.79 from $1.76, supported by rate increases and customer growth. Capital spending surged to $808 million in the first half, and the company continued to raise equity through its ATM programs.
Key Events · Earnings and Guidance · IDA
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Q2 EPS Rises to $1.79
Diluted earnings per share climbed to $1.79 from $1.76 a year ago, fueled by higher base rates effective January 1, 2026, and a 2.3% increase in customers.
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Operating Income Jumps 30%
Operating income reached $130.5 million, up from $100.6 million, as the 2025 Idaho rate settlement boosted revenues and power supply costs moderated.
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Capital Spending Surges
Capital expenditures totaled $808 million in the first six months of 2026, up from $535 million, reflecting major transmission and generation projects including B2H and SWIP-N.
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Equity Dilution Continues
IDACORP executed $418 million in forward sale agreements under its ATM programs, with $337 million remaining capacity; 1.3 million incremental shares were included in diluted EPS from forward agreements.
Analysis · IDA · Energy & Transportation
Higher base rates and a 2.3% expansion in the customer base pushed IDACORP's second-quarter earnings per share to $1.79, up from $1.76 a year earlier. Operating income surged 30%, reflecting the benefits of the 2025 Idaho rate settlement. On the investment front, capital expenditures nearly doubled to $808 million in the first half of 2026, underscoring heavy commitments to transmission and generation projects. The company also remained active in capital markets: Idaho Power issued $350 million in new debt, and IDACORP executed $418 million in forward sale agreements under its at-the-market programs. Meanwhile, the sale of the Oregon electric distribution business advanced, with assets now classified as held for sale at a base purchase price of $154 million. Although earnings are solid, the aggressive capital outlays and ongoing equity dilution from ATM programs warrant close attention.
How filings like this one have moved
In the 30 days to Oct 1, 2026, 30.2% of the 1645 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.49%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, IDA was trading at $148.70 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $8B. The 52-week trading range was $120.70 to $154.91. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.