EarningsQ3 2026 Earnings Report
DE:IDJ Q3 2026 EPS Results
Actual EPS€2.44
Consensus EPS€2.24
Beat/MissBeat by +€0.20
One Year Ago EPS€2.02
DE:IDJ Q3 2026 Revenue Results
Actual Revenue€542.56M
Expected Revenue€538.12M
Beat/MissBeat by +€4.43M
YoY Revenue Growth+15.99%
Earnings Announcement Details
QuarterQ3 2026
Date10/29/2026
TimeBefore Open
Conference CallThursday, October 29, 2026
DE:IDJ Upcoming Earnings
IdaCorp's next earnings date is estimated for February 18, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
DE:IDJ Q3 2026 Earnings Call
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Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was strongly positive overall. IDACORP reported higher earnings, raised full-year EPS guidance, continued customer and industrial revenue growth, a substantial load-growth pipeline, and progress across major transmission and generation projects. The main challenges were elevated capital requirements, higher operating and depreciation expenses, supply-chain constraints, potential ADITC usage and a likely 2027 rate case, but management described these issues as actively managed within its growth and financing plans.Company Guidance
Higher Quarterly and Year-to-Date Earnings
Third-quarter diluted EPS was $2.73, compared with $2.26 in the prior-year quarter. First-nine-month diluted EPS was $5.76, compared with $5.13 in 2025. Management said the results showcase strong performance so far in 2026.
Raised Full-Year EPS Guidance
IDACORP raised its 2026 diluted EPS guidance range by $0.10 at the bottom and $0.05 at the top, to $6.40 to $6.50 per share. The increase was driven by strong third-quarter operating results and an expectation that Idaho Power will use less than $10 million of tax credit amortization for the full year, versus prior guidance of less than $15 million.
Broad-Based Customer and Industrial Growth
Customer count increased 2.2% year over year, including 2.4% growth in the residential segment. Industrial revenues increased 27%, driven by large contract customers constructing facilities and coming online.
Large Contract Customer Revenue Ramp
Revenue from large contract customers increased operating income by almost $12 million in the quarter and approximately $20 million year to date. Management said this benefit is materializing as customers ramp operations and accounts for much of the 27% increase in industrial customer revenues.
Strong Load Growth Outlook
The preliminary load growth CAGR for the 2027 IRP is 8.9% for retail sales over the next five years, including the higher base-year load. Forecast load is approximately 19,000 gigawatt-hours in 2027, growing to about 29,000 gigawatt-hours by 2032.
Significant Project and Economic Development Pipeline
Idaho Power received 76 inquiries in 2026 from projects with energy needs greater than 1 megawatt, on pace for another year of historically high project activity. The company cited interest from manufacturing, mining, food processing, transportation, data centers, and other energy-intensive industries.
Major Customer Projects Progressing
Meta officially began operations at its data center south of Boise in September and is ramping up. Micron Fab 1 and Fab 2 expansions in Boise continue to make progress. Management also cited the Perpetua Resources Dibnite project, Tractor Supply Company's new distribution center, INL, Chobani, and other diverse loads as contributors to growth.
Affordability and Growth-Pays-for-Growth Model
Idaho Power said its prices remain 20% to 30% lower than the national average. Since 2016, national average electric rates increased 41%, Boise rent increased 85%, and CPI inflation increased 39%, while Idaho Power residential rates increased 24%, or an average of 2.2% per year. Management said large-customer contracts seek to protect the company and existing customers from risk and cost-shifting.
Boardman to Hemingway Transmission Project on Schedule
More than 1.2 thousand structure pads have been built, 1.1 thousand foundations installed, approximately 780 towers erected, representing about 60% of the project total, and around 100 miles of conductor installed. The project remains scheduled for an in-service date in late 2027.
Progress on Transmission and Generation Expansion
Construction continues on the Swift North transmission project, expected to be completed in 2028, and Gateway West transmission construction has been put out for bid. Construction is underway on the 167-megawatt Bennett Mountain project, with a scheduled 2028 in-service date. CPCN applications have been filed for the 222-megawatt South Hills project, scheduled for 2029, and the 430-megawatt Peregrine project, slated for 2030.
Equipment and EPC Agreements Secured
Idaho Power has equipment supply agreements for all three company-owned natural gas projects, an EPC contract for Peregrine, and is negotiating an EPC contract for South Hills. Management said turbines have either reservation agreements or supply agreements and that EPC contractors have been awarded for all but one of the plants.
Competitive 2032 Resource Procurement
The 2032 RFP received more than 100 bids, producing a final shortlist of 11 projects that includes company-owned projects, third-party solar, wind and battery facilities, and market purchase bids. The top-ranked 2031 self-build project is a 430-megawatt advanced simple-cycle gas plant with turbines reserved and an EPC contract awarded. The 2032 shortlist also includes a 432-megawatt combined-cycle project under evaluation.
Strong Balance Sheet and Equity Funding Position
The company executed $268 million of forward sale agreements through its 2026 ATM program in the third quarter, in addition to $265 million sold in the first half. Approximately $873 million of forward equity was available for settlement at quarter end. Without counting unsettled forwards, equity represented 51% of capital at both IDACORP and Idaho Power, close to the target 50% debt-to-equity capital structure.
Limited Near-Term Refinancing Exposure
Management said only $80 million of long-term debt matures in 2030, with no holding-company debt or long-term variable-rate debt. The company also cited its more frequent rate-case cadence as reducing exposure to interest-rate risk.
Improved Tax Credit Amortization Outlook
Idaho Power recorded just over $6 million of additional investment tax credit amortization through the first nine months of 2026, compared with $39 million in the same period last year. Full-year guidance now calls for less than $10 million of additional investment tax credit amortization, versus $40 million amortized in 2025.
Expected Nineteenth Consecutive Year of EPS Growth
Management said the company is positioned for what it expects to be a 19th consecutive year of EPS growth, supported by strong year-to-date financial results and continued large contract customer revenue growth.
Capital Investment Supporting Customer Growth
IDACORP continues to invest heavily in system infrastructure, with CWIP exceeding $2.1 billion at quarter end. The company expects 2026 capital expenditures of $1.3 billion to $1.5 billion and is trending toward the high end of that range.
DE:IDJ Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed