EarningsQ2 2026 Earnings Report
MX:IDA Q2 2026 EPS Results
Actual EPS$30.47
Consensus EPS$30.22
Beat/MissBeat by +$0.26
One Year Ago EPS$29.96
MX:IDA Q2 2026 Revenue Results
Actual Revenue$8.00B
Expected Revenue$8.71B
Beat/MissMissed by -$716.66M
YoY Revenue Growth+4.25%
Earnings Announcement Details
QuarterQ2 2026
Date07/30/2026
TimeBefore Open
Conference CallThursday, July 30, 2026
MX:IDA Upcoming Earnings
IdaCorp's next earnings date is estimated for October 29, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:IDA Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized strong operational execution and clear financial improvements (EPS growth, raised guidance, meaningful industrial revenue ramp and reduced ADITC use) alongside steady progress on batteries, transmission and generation projects. Major positives include customer growth (+2.3%), industrial revenue growth (+17%), addition of 250 MW of battery capacity this quarter (550+ MW since 2023), and improved guidance. Key challenges are elevated near-term O&M and depreciation/interest as large amounts of CWIP convert to plant, hydropower variability due to dry weather, working-capital timing impacts on operating cash flow, and execution/financing risks tied to a sizable capital program that may prompt a 2027 rate case. Overall, positives significantly outweigh the negatives, though execution and capital/regulated-rate timing remain items to monitor.Company Guidance
Quarterly and Year-to-Date EPS Growth
Diluted EPS of $1.79 in Q2 2026 vs $1.76 in Q2 2025 (+1.7%); year-to-date diluted EPS $3.00 vs $2.87 (+4.5%).
Reduced Use of Investment Tax Credit Amortization (ADITC)
No additional ADITC recorded in Q2 2026 vs $172 million recorded in Q2 2025; H1 ADITC usage $6.3 million in 2026 vs $36.5 million in H1 2025. Company now expects Idaho Power to use < $15 million of ADITC in 2026 (previous guidance < $30M).
Raised Full-Year EPS Guidance
Raised the lower end of full-year IDACORP diluted EPS guidance by $0.05 to a new range of $6.30 to $6.45, driven by strong Q2 operational results.
Customer Growth
Customer count increased 2.3% year-over-year with growth across all customer segments.
Industrial Revenue Surge
Industrial revenues, including large contracts, increased 17.0% year-over-year; large contract customers contributed $6.5 million to operating income in the quarter.
Material Retail Revenue Benefit from Rate Change and Customer Growth
January rate increase and customer growth provided a $32 million benefit to the quarter and over $52 million year-to-date.
Battery Storage and Renewable Capacity Additions
Commissioned 250 MW of new company-owned battery storage in the quarter (4th straight year of additions); since 2023 added over 550 MW of company-owned batteries. Also commissioned a 125 MW third-party solar project.
Thermal Fleet and Resource Diversification
Valmy Unit 2 conversion to natural gas completed to help meet peak summer loads; construction underway/secured permits for Bennett Mountain (167 MW, in-service 2028), CPCNs filed for South Hills (222 MW, 2029) and Peregrine (430 MW, 2030).
Transmission Project Progress
Boardman-to-Hemingway: ~70% of structure pads completed, >400 towers built, wire stringing started; expected in-service late 2027. SWIP-North construction started with completion expected 2028. Gateway West CPCN joint filing; portions may be in service by 2028.
2032 RFP Progress and Competitive Self-Bids
All bids submitted for the 2032 RFP, several self-build projects remain competitive; shortlist expected in Q3 with contract negotiations to follow.
Oregon Distribution Sale in Process
Regulatory applications filed with Oregon Commission, Idaho Commission and FERC for sale to OTEC; expected close in spring 2027 pending approvals.
Capital and Financing Execution
Executed ~$260 million of additional forward sale agreements in Q2; roughly $1 billion of the approx. $2 billion equity need for the next 5 years already solved through settlements/forwards; ~$715 million of forwards available for settlement; company expects to have equity needs funded into 2027.
Regulatory Prudence Determination
Idaho Commission determined Hells Canyon and relicensing expenditures (2016–2025) were prudently incurred and eligible for inclusion in retail rates in a future proceeding.
Operational Resilience in Retail Sales
Irrigation sales increased in Q2 despite variable spring weather (heavy April rain then drier May/June); residential usage declined due to milder temperatures but was offset by other demand drivers.
MX:IDA 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