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IDACORP’s Capital Spending Is Accelerating—Will Cash Flow Keep Pace With Expansion? 

IDA Corporation’s financial results for the full year 2025 reflect a continuation of steady operational growth paired with careful financial management amid significant capital expenditure plans and evolving regulatory landscapes. The company achieved diluted earnings per share (EPS) of $5.90, marking its eighteenth consecutive year of EPS growth and slightly exceeding the midpoint of its guidance for the year. This performance was supported by customer base expansion, operational reliability, and the constructive resolution of a general rate case proceeding in Idaho. The customer base grew 2.3% overall, driven by residential, commercial, and industrial sectors, which outpaced national growth trends and underscored the economic vitality of the Idaho Power service area. Large industrial projects, such as Micron’s semiconductor facility and Meta’s data center, as well as expansions in manufacturing and distribution, contributed to load growth and are indicative of a diversified and expanding industrial demand pipeline.