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IDACORP Q1 2025 Earnings Report
IDACORP reported an increase in net income and EPS for Q1 2025, driven by higher net income at Idaho Power, despite a decrease in total operating revenues.
Key Takeaways
IDACORP's net income increased by $11.4 million in the first quarter of 2025 compared to the first quarter of 2024, primarily due to higher net income at Idaho Power. This was supported by an increase in Idaho base rates and customer growth, partially offset by higher O&M expenses and a decrease in wholesale energy revenues.
Net income attributable to IDACORP, Inc. increased to $59.647 million in Q1 2025 from $48.173 million in Q1 2024.
Diluted earnings per share increased to $1.10 in Q1 2025 from $0.95 in Q1 2024.
Total operating revenues decreased to $432.457 million in Q1 2025 from $448.936 million in Q1 2024.
Operating income increased to $54.929 million in Q1 2025 from $49.596 million in Q1 2024.
IDACORP
IDACORP
IDACORP Revenue by Segment
IDACORP Revenue by Geographic Location
Revenue by Segment
Utility Operations Revenue
CapyFin.comAll Other Revenue
CapyFin.comRevenue by Geographic Location
Idaho Revenue
CapyFin.comOregon Revenue
CapyFin.com Forward Guidance
Idaho Power anticipates continued customer and load growth, significant capital expenditures for infrastructure investments, and ongoing efforts to manage power supply costs and regulatory matters. The company expects to file a general rate case in Idaho and continues to pursue additional resources to meet growing demand.
Positive Outlook
- Anticipated positive customer growth and increased load due to commercial and industrial expansion.
- Continued investment in utility infrastructure to maintain system reliability and ensure adequate electricity supply.
- Strategic acquisitions of generation, transmission, and storage resources to meet future energy and capacity needs.
- Ongoing efforts to recover costs through regulatory filings and prudent management of expenses and investments.
- Potential for additional ADITC amortization to support earnings stability.
Challenges Ahead
- Uncertainty regarding the outcome and timing of regulatory decisions, which could impact cost recovery and rate adjustments.
- Potential for actual capital expenditures and their timing to deviate substantially from estimates due to labor/material costs, supply chain disruptions, and permitting delays.
- Volatility in wholesale energy market prices and fuel costs, despite mitigation mechanisms.
- Risks associated with environmental regulations and executive orders, which could increase operating costs or impact plant operations.
- Uncertainty regarding the ultimate terms and costs associated with long-term licenses for hydropower facilities.