Idacorp Q2 profit rises on customer growth; lifts 2026 outlook
IDA•Analyst coverage and valuation
- The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
- The average consensus recommendation for the electric utilities peer group is "buy"
- Wall Street's median 12-month price target for IDACORP Inc is $157.00, about 8.7% above its July 29 closing price of $144.40
- The stock recently traded at 22 times the next 12-month earnings vs. a P/E of 22 three months ago
Revenue drivers in the quarter
- Rate increases - Higher Idaho base rates effective Jan. 1, 2026, boosted retail revenues, per company
- Customer growth - Number of Idaho Power customers grew by about 15,000, or 2.3%, over the past year, supporting revenue gains
- Large contract customers - Increased usage and a new large contract added June 1, 2026, lifted revenues from large contract customers
Q2 profit rises on customer growth and rate changes
Idacorp Q2 profit rises on customer growth; lifts 2026 outlook
- US electric utility's Q2 net income and EPS rose yr/yr on customer growth, rate changes
- Company raised lower end of 2026 earnings guidance range
