Loading...
•
Mar 31, 2020
IDACORP Q1 2020 Earnings Report
IDACORP reported a decrease in net income due to lower net income at Idaho Power, impacted by decreased transmission wheeling-related revenues and mild winter weather.
Key Takeaways
IDACORP Inc. reported first quarter 2020 net income attributable to IDACORP of $37.5 million, or $0.74 per diluted share, compared to $42.7 million, or $0.84 per diluted share, in the first quarter of 2019. The company affirms its full year 2020 earnings guidance in the range of $4.45 to $4.65 per diluted share.
Net income decreased by $5.2 million compared to Q1 2019, primarily due to lower net income at Idaho Power.
Customer growth increased operating income by $3.6 million, with a 2.6 percent customer increase over the twelve months ending March 31, 2020.
Lower sales volumes per customer decreased operating income by $6.1 million due to moderate weather and COVID-19 impacts.
Transmission wheeling-related revenues decreased by $5.4 million due to lower tariff rates and reduced regional wholesale market activity.
Forward Guidance
IDACORP affirms its full year 2020 earnings guidance in the range of $4.45 to $4.65 per diluted share, assuming normal weather conditions and no utilization of additional tax credits.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...