IDACORP reported higher third-quarter earnings, citing customer growth, current base rates and rising demand from large contract customers. The utility holding company also raised its full-year 2026 earnings guidance; the updated outlook assumes normal weather through year-end.
- Third-quarter results: Net income attributable to IDACORP was $160.2 million, or $2.73 per diluted share, for the quarter ended Sept. 30, 2026. A year earlier, it was $124.4 million, or $2.26 per share. That represents increases of about 29% in net income and 21% in earnings per share.
- Guidance raised: IDACORP now expects 2026 earnings of $6.40 to $6.50 per diluted share. The company did not specify the prior guidance range in the announcement.
- Tax-credit assumption: The outlook anticipates Idaho Power will use less than $10 million of additional tax credits available through an Idaho regulatory mechanism in 2026.
- Reported business drivers: Management attributed the quarter’s results to continued customer growth, revenue under current base rates and large contract customers ramping up operations.
- Project progress: The company also cited installed battery-storage projects and progress on transmission and generation development and construction, without providing additional project details in the announcement.
The higher guidance sets a stronger earnings expectation for 2026, while its stated assumptions make results dependent in part on weather and the amount of tax credits used.