IDACORP, Inc. (NYSE: IDA) reported third quarter 2026 net income attributable to the company of $160.2 million, or $2.73 per diluted share. This represents an increase of $35.8 million compared to the same period in 2025, when net income was $124.4 million, or $2.26 per diluted share. For the nine months ended September 30, 2026, net income attributable to IDACORP totaled $330.8 million, compared to $279.9 million during the first nine months of 2025.
The company reported that the increase in net income for the quarter was driven by higher net income at Idaho Power. Key factors contributing to this growth included an overall increase in Idaho base rates, effective January 1, 2026, due to the outcome of the 2025 Settlement Stipulation for Idaho Power's general rate case. Additionally, the company noted that customer growth contributed to the results, with the number of Idaho Power customers growing by approximately 15,000, or 2.2 percent, during the twelve months ended September 30, 2026.
On October 29, 2026, IDACORP announced it is increasing its full-year 2026 earnings guidance to a range of $6.40 to $6.50 per diluted share. This guidance assumes normal weather conditions through the end of the year and incorporates the expectation that Idaho Power will use less than $10 million of additional tax credits available under the Idaho regulatory mechanism in 2026. The company also provided updated metrics for Idaho Power, including operating and maintenance expense guidance of $535 million to $545 million and capital expenditures, excluding AFUDC, of $1,300 million to $1,500 million.
Management highlighted progress on development and construction of transmission and generation projects, as well as the installation of battery storage projects, during the third quarter. The company will hold an analyst conference call today at 2:30 p.m. Mountain Time to discuss the results.
