IDACORP, Inc. Announces First Quarter 2026 Results

IDACORP, Inc. reported first quarter 2026 net income of $68.0 million, or $1.21 per diluted share, an increase from $59.6 million, or $1.10 per diluted share, in the first quarter of 2025. The increase was driven by customer growth and rate changes, partially offset by higher O&M expenses and fewer tax credits. The company is reaffirming its full-year 2026 earnings guidance of $6.25 to $6.45 per diluted share. IDACORP expects 250 MW of batteries to come online and continued progress on major projects in 2026. Key financial and operational updates include increased retail revenues per MWh due to rate adjustments, a 2.3% increase in customer growth, and a decrease in usage per retail customer attributed to milder weather. The company also highlighted wildfire mitigation efforts and provided updates on generation and storage projects, including the Boardman-to-Hemingway transmission line and various battery energy storage system projects. Capital expenditure forecasts and financing plans were also detailed, with a significant increase in expected annual average capital expenditures from the previous five years.