IDACORP lifts FY2026 earnings guidance after Q2 profit rise

IDACORP, the parent of Idaho Power, reported second‑quarter net income of $102.6 million, or $1.79 per diluted share, up from $95.8 million and $1.76 per share a year earlier. Revenue growth was driven by a 2.3% increase in total customers and a 17% year‑over‑year jump in industrial revenue, helped by large‑contract projects for Micron, Meta, Chobani and the Idaho National Laboratory. The company also noted a sharp reduction in tax‑credit amortization, recording none in the quarter versus $17.2 million the prior year.

Based on the results, IDACORP raised the lower end of its FY2026 diluted earnings per‑share guidance to $6.30 (from $6.25) while keeping the upper bound at $6.45. The outlook assumes normal weather and less than $15 million of additional tax credits in 2026, which the firm says supports avoiding a general rate case that year.