IDACORP Q1 net income $48.2M ($0.95/sh) down from $56.1M ($1.11/sh); reaffirms FY24 guidance

IDACORP INC

2024-Q1 EPS reported $0.95 revenue$417,897,000

Net income $48.2M vs $56.1M; diluted EPS $0.95 vs $1.11.
Customer growth added 15,800 accounts (+2.5% YoY), offset by lower usage per customer due to mild weather.
Q1 O&M up $13.8M: pension +$4M, wildfire mitigation +$8M; FY24 expects pension +$18M, wildfire +$30M.
Depreciation expense +$8.6M; interest expense higher; ADITC amortization $12.5M vs $3.75M.
Reaffirms FY24 EPS guidance $5.25-$5.45; Idaho Power ADITCs $35-$60M; capex $925-$975M; hydropower guidance revised up to 6.5-8.0 MWh.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

IDACORP INC reported quarter ended March 31, 2024 results: net income $48.2 million, EPS $0.95. Guidance reaffirmed.

Period: quarter ended March 31, 2024
Net income: $48.2 million
EPS: $0.95
Guidance: reaffirmed
Result: reported results

Exact text from the filing

IDACORP, Inc. (NYSE: IDA) reported first quarter 2024 net income attributable to IDACORP of $48.2 million, or $0.95 per diluted share, compared with $56.1 million, or $1.11 per diluted share, in the first quarter of 2023.

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Source: SEC EDGAR

accession 0001057877-24-000028

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