IDACORP Q2 EPS $1.27 vs $1.38 YoY; lifts low-end of 2022 guidance to $4.95-$5.05

IDACORP INC

2022-Q2 EPS reported $2.18 revenue$663,665,000

Q2 net income $64.3M ($1.27/diluted) vs $70.0M ($1.38) in Q2 2021; H1 net income $110.5M ($2.18) vs $114.9M ($2.27).
Customer growth of 2.6% (+15,500 customers) but lower per-customer usage due to mild weather cut operating income by $25.9M in Q2.
2022 EPS guidance raised to $4.95-$5.05 from $4.85-$5.05; O&M expense guidance raised to $365-$375M; capex guidance raised to $500-$520M.
Bridger Order expected to add ~$10M net income in 2023; depreciation expense fell $8.8M in Q2 due to accelerated coal asset accounting.
Transmission wheeling revenues up $2.9M; inflation and scheduled maintenance increased O&M by $12.0M in Q2.

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