IDACORP Q2 EPS $1.71 vs $1.35 YoY; raises lower-end 2024 guidance to $5.30-$5.45

IDACORP INC

2024-Q2 EPS reported $2.67 revenue$860,528,000

Net income $89.5M ($1.71/diluted share) vs $68.6M ($1.35) in Q2 2023, driven by customer growth, usage, and rate changes.
Full-year 2024 EPS guidance lower-end raised to $5.30-$5.45 from $5.25; expects $35-$50M additional ADITC use.
Customer count grew 2.6% (+16,200) over trailing 12 months; irrigation usage up 17% due to warmer weather.
O&M expenses rose $13.8M vs prior Q2, primarily from $8M wildfire mitigation/insurance and $4M pension costs.
Idaho Power depreciation up $7.6M on increased plant-in-service; capex guidance unchanged at $925-$975M.

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