Idacorp, Inc. has released its fourth quarter and year-end 2025 results, reporting a net income attributable to Idacorp of $43.6 million for the fourth quarter of 2025, compared to $37.9 million in the fourth quarter of 2024. For the full year ended December 31, 2025, Idacorp reported a net income of $323.5 million, an increase from $289.2 million in 2024.
The company's earnings per diluted share also saw an increase, reaching $0.78 for the fourth quarter of 2025 compared to $0.70 in the same period in 2024. For the full year ended December 31, 2025, earnings per diluted share were $5.90, up from $5.50 in 2024.
Idacorp President and CEO Lisa Grow attributed the positive results to customer growth, rate changes, lower income tax expenses, and the use of tax credits. However, these were partially offset by higher depreciation and financing costs from infrastructure investments.
Idacorp is initiating its full-year 2026 earnings guidance in the range of $6.25 to $6.45 per diluted share. The expectation is that Idaho Power will use less than $30 million of additional tax credits available under the Idaho regulatory mechanism in 2026.
The company's financial results show an increase in net income at Idaho Power, driven by factors such as retail revenues per megawatt-hour, customer growth, and other operational efficiencies. However, there were also increased expenses, particularly in depreciation and amortization, and other operating expenses.
Idacorp's 2026 guidance includes key operating and financial metrics, with Idaho Power's capital expenditures projected to be between $1,300 million and $1,500 million, compared to $1,083 million in 2025.
The company will be hosting an analyst conference call to discuss these results and guidance in more detail.
Following these announcements, the company's shares moved 1.42%, and are now trading at a price of $134.61. Check out the company's full 8-K submission here.
