IDACORP Q4 Earnings Call Highlights

1 month ago 14

MarketBeat

Mon, February 23, 2026 astatine 11:07 AM CST 9 min read

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2025 diluted EPS came successful astatine $5.90 (up from $5.50), representing the company's 18th consecutive twelvemonth of EPS maturation and finishing $0.15 supra the midpoint of guidance; absorption initiated 2026 EPS guidance of $6.25–$6.45.
Management outlined an expanded superior program averaging astir $1.4 cardinal per year from 2026–2030 (~$7 cardinal total), projecting complaint basal to transcend $11 billion by 2030 and expecting to rise astir $2.0 cardinal of equity and $2.9 cardinal of indebtedness to prolong a 50/50 superior structure.
Idaho Power's lawsuit basal grew 2.3% successful 2025 with large-load additions specified arsenic Micron and Meta, the institution says its prospective pipeline exceeds astir 4,000 MW, and it is monitoring revenues portion presently not readying a June 1 wide complaint case.
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IDACORP (NYSE:IDA) reported 2025 diluted net per stock of $5.90, up from $5.50 successful 2024, marking the company’s 18th consecutive twelvemonth of EPS growth, absorption said connected its fourth-quarter and year-end 2025 net call. The institution finished $0.15 per stock supra the midpoint of its archetypal 2025 guidance range.

Management besides initiated 2026 net guidance of $6.25 to $6.45 per diluted share, assuming “historically normal” upwind and mean powerfulness proviso expenses. The institution expects Idaho Power volition usage less than $30 million of further concern taxation recognition amortization (ADITC) successful 2026, down from $40.3 million successful 2025, arsenic presented connected the call.

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Chief Financial Officer Brian Buckham said IDACORP’s nett income accrued by much than $34 million compared with 2024. Higher operating income astatine Idaho Power from a January complaint increase and customer growth combined for an estimated $75 million benefit.

He noted respective offsets and different moving pieces successful year-over-year comparisons:

Milder temperatures reduced usage connected a per-customer basis, lowering operating income by $6.5 million, though absorption said some 2024 and 2025 had above-average cooling grade days.
Other O&M expenses accrued by little than $10 million, chiefly owed to higher labor-related costs. Buckham said the institution ended the twelvemonth astatine the low extremity of its O&M guidance.
Depreciation and amortization accrued by astir $28 million, reflecting higher strategy concern and assets placed successful service. A leased artillery retention installation that began operations successful the 2nd 4th of 2024 besides added amortization disbursal for the associated right-of-use asset.
Non-operating expense roseate by astir $23 million, driven chiefly by higher involvement disbursal arsenic semipermanent indebtedness balances increased, positive involvement related to the concern lease. Buckham said the lease’s involvement and amortization are offset done the powerfulness outgo accommodation mechanism, resulting successful a near-zero effect connected operating income.