IDACORP Holds 2026 EPS Guidance, Capex Rises to $1.1B

IDACORP reaffirmed its 2026 earnings guidance of $5.25 to $5.45 per share during the second-quarter earnings call. The utility also raised its capital spending forecast for the year. CFO Brian Buckham said the company now expects to spend $1.1 billion, up from $1.0 billion.

CEO Lisa Grow described the quarter as a period of strong operational performance. She pointed to the completion of the Heise geothermal plant sale in May. The company received $200 million from the transaction.

The Idaho Power general rate case, filed in early 2025, remains a key risk factor. The Idaho Public Utilities Commission is expected to issue a final order by the end of 2026. In Oregon, the base case proceeding is under way, with a decision expected in 2027.

IDACORP carries an Alpha Score of 46 out of 100 on AlphaScala, with a Mixed label. The score reflects the regulatory uncertainty against the utility's stable earnings profile.