IDACORP, Inc. reported third‑quarter 2025 results, posting net income of $124.4 million and earnings per diluted share of $2.26. The company’s net income increased by $10.8 million from $113.6 million in the same quarter of 2024. Revenue for the quarter was $524.4 million, up from $497.2 million in Q3 2024.
The earnings per share of $2.26 was slightly below the consensus estimate of $2.27 but exceeded the Zacks Consensus Estimate of $2.23. The increase in net income was driven by higher retail revenues and a 15,000‑customer addition at Idaho Power, supported by rate increases effective January 1 2025.
Idaho Power’s operating income grew, reflecting the impact of the rate increases and the customer expansion. Management noted that inflationary labor costs, wildfire mitigation expenses, and higher depreciation and amortization related to infrastructure investments offset some of the gains.
The company raised its full‑year 2025 earnings guidance to a range of $5.80 to $5.90 per diluted share. The lift reflects expected additional accumulated deferred investment tax credit (ADITC) amortization of $50 million to $60 million for the year, along with the $39 million of ADITC amortization recorded in the first nine months of 2025 versus $22.5 million in the same period of 2024.
IDACORP plans a $5.6 billion capital program through 2029 to support growth and maintain infrastructure, including energy storage, transmission lines, and renewable resources. The company has reached a constructive settlement for its Idaho general rate case, pending approval by the Idaho Public Utilities Commission, which would increase annual Idaho retail revenue by approximately $110 million effective January 1 2026.
The company’s guidance and capital program underscore its strategy to finance growth while maintaining low rates for customers. The results and outlook provide a clearer view of IDACORP’s financial trajectory and its ongoing commitment to infrastructure investment and affordability.
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