• IDACORP, Inc. recently reported past first-quarter 2026 results showing sales of US$402.76 million and net income of US$67.98 million, with diluted EPS from continuing operations rising to US$1.21 from US$1.10 a year earlier.
• The company also reaffirmed its full-year 2026 earnings guidance of US$6.25 to US$6.45 per diluted share, underscoring confidence in ongoing industrial customer growth and major grid and generation investments despite higher costs and a recent credit rating downgrade.
• Now we’ll explore how reaffirmed full-year earnings guidance alongside growing large-load industrial demand could reshape IDACORP’s existing investment narrative.

Find 51 companies with promising cash flow potential yet trading below their fair value.

IDACORP Investment Narrative Recap

To own IDACORP, you need to be comfortable with a regulated utility investing heavily in its grid to serve fast-growing industrial demand, while managing weather, financing and regulatory risks. The latest quarter supports that narrative: earnings per share grew even as revenue fell, and reaffirmed 2026 guidance suggests the near term catalyst remains execution on large-load projects, with the key risk still centered on capital intensity and its impact on credit quality and allowed returns, which the recent credit downgrade has already highlighted.

The reaffirmation of full year 2026 earnings guidance of US$6.25 to US$6.45 per diluted share is particularly relevant here, because it ties the company’s growth-pays-for-growth model directly to outcomes regulators will scrutinize as IDACORP invests in new transmission lines and gas plants. This same investment cycle is closely linked to the biggest current risk: the need to fund large projects through equity and debt while relying on timely and supportive regulatory cost recovery.

But even with guidance intact, investors should be aware that rising capital needs and a weaker credit rating could eventually feed into...

IDACORP's narrative projects $2.4 billion revenue and $460.5 million earnings by 2029. This requires 9.1% yearly revenue growth and a $137.0 million earnings increase from $323.5 million today.

Uncover how IDACORP's forecasts yield a $152.44 fair value, a 4% upside to its current price.

Exploring Other Perspectives

Four fair value estimates from the Simply Wall St Community span roughly US$108.73 to US$152.44 per share, showing how far apart individual views can be. Set against this, IDACORP’s reaffirmed earnings guidance and ongoing large scale grid and generation investments may influence how you think about future returns and risks around funding those projects, so it is worth comparing several of these perspectives side by side.

Explore 4 other fair value estimates on IDACORP - why the stock might be worth as much as $152.44!

The Verdict Is Yours

Don't just follow the ticker - dig into the data and build a conviction that's truly your own.

• A great starting point for your IDACORP research is our analysis highlighting 2 key rewards and 3 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.