IDACORP, Inc. IDA reported second-quarter 2026 earnings of $1.79 per share, which topped the Zacks Consensus Estimate of $1.75 by 2.3%. The company’s earnings also improved 1.7% from $1.76 in the year-ago quarter.
The year-over-year improvement was due to customer growth, rate changes and revenues from large contract customers.
IDA’s Total Revenues
Total revenues in the second quarter of 2026 were $469.8 million, lagging the Zacks Consensus Estimate of $478 million by 1.8%. However, the metric rose 4.2% from $450.9 million in the year-ago quarter.
IDACORP, Inc. Price, Consensus and EPS Surprise
IDACORP, Inc. price-consensus-eps-surprise-chart | IDACORP, Inc. Quote
IDACORP Gains From Large Contract Customers
Retail revenues from large contract customers, net of associated power supply costs and the Idaho Power cost adjustment mechanism, increased operating income by $6.5 million.
The gain reflected higher usage per large contract customer, the increase in Idaho base rates and the addition of a new large contract that became effective June 1, 2026. Management highlighted these customers as an important source of revenues to help fund the company’s substantial infrastructure development.
IDACORP also brought 250 megawatts of battery capacity online in June. The company continued construction work on major transmission and generation projects during the first half of 2026.
Highlights of IDA’s Q2 Release
IDACORP’s customer volume increased 2.3% year over year for the 12 months ended on March 31, 2026. This boosted operating income by $4.5 million from the year-ago level.
Other operations and maintenance (O&M) expenses were $11.7 million, higher than the year-earlier level. The rise mainly reflected the recognition of previously deferred costs tied to converting generating units at the Jim Bridger plant from coal to natural gas.
IDACORP's net income increased $6.8 million from the prior-year level due to higher net income at Idaho Power.
IDA’s Financial Highlights
As of June 30, 2026, cash and cash equivalents were $83.6 million compared with $215.7 million as of Dec. 31, 2025.
The long-term debt was $3.68 billion as of June 30, 2026 compared with $3.33 billion as of Dec. 31, 2025.
In the first six months of 2026, net cash provided by operating activities was $179 million compared with $301.2 million in the prior-year period.
IDA’s 2026 Guidance
IDACORP raised the lower end of its 2026 earnings guidance to $6.30-$6.45 per share from the previous range of $6.25-$6.45. The Zacks Consensus Estimate for earnings is pegged at $6.39, which is higher than the midpoint of the company’s guided range.
IDA projects a capital expenditure of $1.3-$1.5 billion for 2026. The company’s O&M expenses forecast remains $525-$535 million.
Management narrowed its hydropower generation outlook to 5.5-6.5 million megawatt-hours from 5.5-7 million.
IDA’s Zacks Rank
IDACORP currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Releases
Entergy Corporation ETR reported second-quarter 2026 earnings of $1.03 per share, which beat the Zacks Consensus Estimate of 94 cents by 9.6%. However, the bottom line decreased 1.9% from the year-ago quarter’s figure of $1.05.
Revenues rose 5.9% year over year to $3.52 billion but missed the consensus mark of $3.53 billion by 0.08%.
PG&E Corporation PCG reported second-quarter 2026 adjusted earnings per share of 40 cents, which beat the Zacks Consensus Estimate of 37 cents by 8.1%. The bottom line also increased 29% from the year-ago quarter’s figure of 31 cents.
PCG reported second-quarter total revenues of $5.902 billion, up 0.1% from $5.898 billion registered in the year-ago period. However, the top line missed the Zacks Consensus Estimate of $6.31 billion by 6.4%.
CMS Energy Corporation CMS reported second-quarter 2026 adjusted earnings per share of 37 cents per share, which came in line with the Zacks Consensus Estimate. However, the bottom line declined 47.9% from 71 cents in the year-ago quarter.
Operating revenues totaled $1.83 billion, which missed the Zacks Consensus Estimate of $1.91 billion by 4.2%. The top line also fell 0.5% from $1.84 billion in the prior-year quarter.
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