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…
Earnings analysis · 10-Q
IDA earnings analysis
Filed April 30, 2026 · Our reading of the company's report
The latest report
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…
Read full summary
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.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $1.21
What stood out
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Revenue in Q1 2026
Revenues were reported at $425 million for Q1 2026, close to $432 million in Q1 2025.
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Increased EPS
Diluted EPS grew to $1.21, compared to $1.10 in Q1 2025, indicating positive earnings growth.
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Positive Customer Growth
Idaho Power experienced a customer count increase of approximately 15,000 customers, or 2.3% year-over-year.
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Improved Net Income
Net income attributable to IDACORP increased by $8.4 million to $67.981 million compared to Q1 2025.
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Higher Retail Revenue
Retail revenue per MWh contributed an additional $18 million to operating income, supported by higher base rates.
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Effective Cost Management
Operating costs were managed effectively with an overall increase in income driven by operational efficiencies.
What to watch
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Lower Energy Sales Due to Weather
Retail energy sales decreased 3% year-over-year, largely attributable to milder temperatures reducing heating energy usage.
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Increased Operating Expenses
Other O&M expenses rose by $13.1 million compared to Q1 2025, primarily linked to wildfire mitigation efforts.
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Reduction in Hydropower Generation
Hydropower generation was significantly lower at 1,560 MWh compared to 2,124 MWh in the same quarter last year.
Management's outlook
Management noted that customer growth and operational cost management are key strategic focuses, but no specific numerical guidance was provided.
Earlier filings 4
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 itself. Analysis can contain errors; check the source document for full context.