IDA earnings analysis
What we found in IDA's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
IDACORP reported a Q1 2026 net income of $67.981 million, with EPS of $1.21, reflecting a rise from $59.647 million and $1.10 in the same period last year. Revenues totaled $425 million, slightly below the estimated consensus of $425.9 million, driven by a 2.3% increase in customer growth and higher retail revenue per MWh, offset by decreased energy usage due to milder temperatures compared to the previous year.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue in Q1 2026
- Revenues were reported at $425 million for Q1 2026, close to $432 million in Q1 2025.
- Increased EPS
- Diluted EPS grew to $1.21, compared to $1.10 in Q1 2025, indicating positive earnings growth.
- Positive Customer Growth
- Idaho Power experienced a customer count increase of approximately 15,000 customers, or 2.3% year-over-year.
- Improved Net Income
- Net income attributable to IDACORP increased by $8.4 million to $67.981 million compared to Q1 2025.
- Higher Retail Revenue
- Retail revenue per MWh contributed an additional $18 million to operating income, supported by higher base rates.
- Effective Cost Management
- Operating costs were managed effectively with an overall increase in income driven by operational efficiencies.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Lower Energy Sales Due to Weather
- Retail energy sales decreased 3% year-over-year, largely attributable to milder temperatures reducing heating energy usage.
- Increased Operating Expenses
- Other O&M expenses rose by $13.1 million compared to Q1 2025, primarily linked to wildfire mitigation efforts.
- Reduction in Hydropower Generation
- Hydropower generation was significantly lower at 1,560 MWh compared to 2,124 MWh in the same quarter last year.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $1.21
What they said about what is next.
Management noted that customer growth and operational cost management are key strategic focuses, but no specific numerical guidance was provided.
The filing reads about the same as the one before it.
What came before.
- 10-K · February 19, 2026
- IDACORP continues to position itself as a regulated utility holding company with Idaho Power as the core earnings driver, pursuing four strategic cornerstones (safety, financial strength, core business improvement, and…
- 10-Q · October 30, 2025
- IDACORP reported third-quarter operating revenues of $524,417,000 and diluted EPS of $2.26. Operating income improved to $144,821,000 (operating margin ~27.6%) and net income attributable to IDACORP was $124,437,000,…
- 10-Q · July 31, 2025
- IDA reported essentially flat revenue of $450,880,000 in Q2 2025 versus $451,039,000 in Q2 2024, while diluted EPS rose to $1.76 from $1.71 year‑over‑year. Operating income slipped slightly to $100,573,000 from…
- 10-Q · May 1, 2025
- IDACORP reported Q1 2025 revenue of $432.457M (down from $448.936M in Q1 2024) and diluted EPS of $1.10 (up from $0.95). Operating income rose to $54.929M, lifting operating margin to ~12.7%, while net cash from…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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