The Bull Case For IDACORP (IDA) Could Change Following Stronger Profitability And Higher 2026 EPS Guidance

• IDACORP, Inc. has reported its second-quarter 2026 results, with sales of US$468.67 million, revenue of US$469.80 million and net income of US$102.58 million, alongside higher basic and diluted earnings per share from continuing operations compared with the same period in 2025.
• For the first half of 2026, IDACORP increased net income and earnings per share even as sales and total revenue slightly decreased year over year, and it also raised full‑year 2026 earnings guidance to US$6.30–US$6.45 per diluted share based on updated expectations for tax credit usage.
• We’ll now examine how IDACORP’s stronger first-half profitability and raised 2026 earnings guidance influence the existing investment narrative.

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IDACORP Investment Narrative Recap

To own IDACORP, you have to be comfortable with a regulated electric utility whose appeal rests on stable earnings, a consistent dividend and disciplined capital spending, all while managing weather and regulatory risk. The latest results, with higher first half net income and a modestly raised 2026 earnings guidance, support the near term earnings catalyst but do not materially change the key risk around future cost recovery and returns on large capital projects through pending and future regulatory decisions.

The most relevant recent announcement here is IDACORP’s July 30 guidance increase to US$6.30 to US$6.45 per diluted share, tied to updated expectations for Idaho Power’s 2026 tax credit usage. This tweak in guidance highlights how regulatory mechanisms around tax credits and allowed recovery can influence reported earnings, and it connects directly to the broader catalyst of how constructively regulators treat IDACORP’s investments and earnings profile over the next few years.

Yet while near term earnings guidance has inched higher, investors should still be aware of how regulatory outcomes could...

Read the full narrative on IDACORP (it's free!)

IDACORP's narrative projects $2.4 billion revenue and $510.4 million earnings by 2029. This requires 10.9% yearly revenue growth and about a $178.6 million earnings increase from $331.8 million today.

Uncover how IDACORP's forecasts yield a $158.10 fair value, a 13% upside to its current price.

Exploring Other Perspectives

Four fair value estimates from the Simply Wall St Community span roughly US$112 to US$158 per share, showing how far apart individual views can be. Set against IDACORP’s improved first half profitability and slightly higher 2026 earnings guidance, this range underlines why you may want to compare differing expectations for future regulatory cost recovery and earnings power.

Explore 4 other fair value estimates on IDACORP - why the stock might be worth as much as 13% more than the current price!

Reach Your Own Conclusion

Disagree with existing narratives? Extraordinary investment returns rarely come from following the herd, so go with your instincts.

• A great starting point for your IDACORP research is our analysis highlighting 2 key rewards and 2 important warning signs that could impact your investment decision.
• Our free IDACORP research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate IDACORP's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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