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IDACORP's Q3 earnings rose 20.8% to $2.73 per share, while revenues climbed 15.9% to $608 million.
Higher Idaho base rates, customer growth and large contract revenues drove IDACORP's earnings growth.
IDACORP raises its 2026 EPS guidance to $6.40-$6.50 and maintains its $1.3-$1.5 billion capex forecast.
IDACORP, Inc. (IDA - Free Report) reported third-quarter 2026 earnings of $2.73 per share, which surpassed the Zacks Consensus Estimate of $2.51 by 8.8%. The bottom line also increased 20.8% from $2.26 in the year-ago quarter.
The year-over-year improvement was primarily driven by higher Idaho base rates, continued customer growth and increased revenues from large contract customers.
IDA’s Total Revenues
Total revenues in the third quarter of 2026 were $608 million, outpacing the Zacks Consensus Estimate of $561 million by 8.4%. The top line also rose 15.9% from $524.4 million in the year-ago quarter.
Retail revenues from large contract customers, net of associated power supply costs and the Idaho Power cost adjustment mechanism, increased operating income by $11.8 million compared with the year-ago quarter.
The improvement was primarily due to the commencement of revenues under a large customer contract on June 1, 2026, higher Idaho base rates and increased electricity usage per large contract customer.
Highlights of IDA’s Q3 Release
IDACORP's total operating expenses increased 13.1% year over year to $429.3 million from $379.6 million in the prior-year quarter.
Other operations and maintenance (O&M) expenses rose $22.5 million year over year, primarily due to amortization of previously deferred costs associated with converting generating units at the Jim Bridger and North Valmy plants from coal to natural gas.
IDACORP's net income increased $35.8 million from the prior-year level due to higher net income at Idaho Power.
IDA’s Financial Highlights
As of Sept. 30, 2026, IDACORP's cash and cash equivalents were $187.8 million compared with $215.7 million as of Dec. 31, 2025.
Long-term debt totaled $3.86 billion at the end of the reported quarter compared with $3.33 billion at 2025-end.
In the first nine months of 2026, net cash provided by operating activities was $378.5 million compared with $464.1 million in the prior-year period.
IDA’s 2026 Guidance
IDACORP raised its 2026 earnings guidance to $6.40-$6.50 per share from the previous range of $6.30-$6.45 per share. The Zacks Consensus Estimate for earnings is pegged at $6.39, which is lower than the company’s guided range.
Management maintained its capital expenditure forecast of $1.3-$1.5 billion for 2026.
IDACORP raised its O&M expense forecast to $535-$545 million from the earlier range of $525-$535 million.
IDACORP narrowed its hydropower generation outlook to 5.5-6 million megawatt-hours from the previous range of 5.5-6.5 million megawatt-hours.
CenterPoint Energy, Inc. (CNP - Free Report) reported third-quarter 2026 adjusted earnings of 53 cents per share, which surpassed the Zacks Consensus Estimate of 50 cents by 6%. The bottom line also increased 6% from the year-ago quarter’s figure of 50 cents.
CNP generated revenues of $2.19 billion, which beat the Zacks Consensus Estimate by 1.9%. The top line also came in 10.2% higher than the year-ago quarter’s reported figure of $1.99 billion.
PG&E Corporation (PCG - Free Report) reported third-quarter 2026 adjusted earnings per share (EPS) of 41 cents, which missed the Zacks Consensus Estimate of 42 cents by 2.4%. The bottom line also declined 18% from the year-ago quarter’s figure of 50 cents.
PCG reported third-quarter total revenues of $6.19 billion, down 1% from $6.25 billion registered in the year-ago period. The top line also missed the Zacks Consensus Estimate of $6.59 billion by 6%.
CMS Energy Corporation (CMS - Free Report) reported third-quarter 2026 adjusted earnings of $1.44 per share, which surpassed the Zacks Consensus Estimate of $1.34 by 7.5%. The bottom line increased 54.8% from 93 cents in the year-ago quarter.
Operating revenues totaled $2.183 billion, which beat the Zacks Consensus Estimate of $2.178 billion by 0.2%. The top line also increased 8% from $2.02 billion in the prior-year quarter.
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IDACORP Q3 Earnings & Revenues Outpace Estimates, '26 EPS View Raised
Key Takeaways
IDACORP, Inc. (IDA - Free Report) reported third-quarter 2026 earnings of $2.73 per share, which surpassed the Zacks Consensus Estimate of $2.51 by 8.8%. The bottom line also increased 20.8% from $2.26 in the year-ago quarter.
The year-over-year improvement was primarily driven by higher Idaho base rates, continued customer growth and increased revenues from large contract customers.
IDA’s Total Revenues
Total revenues in the third quarter of 2026 were $608 million, outpacing the Zacks Consensus Estimate of $561 million by 8.4%. The top line also rose 15.9% from $524.4 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 $11.8 million compared with the year-ago quarter.
The improvement was primarily due to the commencement of revenues under a large customer contract on June 1, 2026, higher Idaho base rates and increased electricity usage per large contract customer.
Highlights of IDA’s Q3 Release
IDACORP's total operating expenses increased 13.1% year over year to $429.3 million from $379.6 million in the prior-year quarter.
Other operations and maintenance (O&M) expenses rose $22.5 million year over year, primarily due to amortization of previously deferred costs associated with converting generating units at the Jim Bridger and North Valmy plants from coal to natural gas.
IDACORP's net income increased $35.8 million from the prior-year level due to higher net income at Idaho Power.
IDA’s Financial Highlights
As of Sept. 30, 2026, IDACORP's cash and cash equivalents were $187.8 million compared with $215.7 million as of Dec. 31, 2025.
Long-term debt totaled $3.86 billion at the end of the reported quarter compared with $3.33 billion at 2025-end.
In the first nine months of 2026, net cash provided by operating activities was $378.5 million compared with $464.1 million in the prior-year period.
IDA’s 2026 Guidance
IDACORP raised its 2026 earnings guidance to $6.40-$6.50 per share from the previous range of $6.30-$6.45 per share. The Zacks Consensus Estimate for earnings is pegged at $6.39, which is lower than the company’s guided range.
Management maintained its capital expenditure forecast of $1.3-$1.5 billion for 2026.
IDACORP raised its O&M expense forecast to $535-$545 million from the earlier range of $525-$535 million.
IDACORP narrowed its hydropower generation outlook to 5.5-6 million megawatt-hours from the previous range of 5.5-6.5 million megawatt-hours.
IDA’s Zacks Rank
IDACORP currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Releases
CenterPoint Energy, Inc. (CNP - Free Report) reported third-quarter 2026 adjusted earnings of 53 cents per share, which surpassed the Zacks Consensus Estimate of 50 cents by 6%. The bottom line also increased 6% from the year-ago quarter’s figure of 50 cents.
CNP generated revenues of $2.19 billion, which beat the Zacks Consensus Estimate by 1.9%. The top line also came in 10.2% higher than the year-ago quarter’s reported figure of $1.99 billion.
PG&E Corporation (PCG - Free Report) reported third-quarter 2026 adjusted earnings per share (EPS) of 41 cents, which missed the Zacks Consensus Estimate of 42 cents by 2.4%. The bottom line also declined 18% from the year-ago quarter’s figure of 50 cents.
PCG reported third-quarter total revenues of $6.19 billion, down 1% from $6.25 billion registered in the year-ago period. The top line also missed the Zacks Consensus Estimate of $6.59 billion by 6%.
CMS Energy Corporation (CMS - Free Report) reported third-quarter 2026 adjusted earnings of $1.44 per share, which surpassed the Zacks Consensus Estimate of $1.34 by 7.5%. The bottom line increased 54.8% from 93 cents in the year-ago quarter.
Operating revenues totaled $2.183 billion, which beat the Zacks Consensus Estimate of $2.178 billion by 0.2%. The top line also increased 8% from $2.02 billion in the prior-year quarter.