IDACORP Q2 2021 Earnings Report
Key Takeaways
IDACORP's second quarter 2021 net income attributable to IDACORP was $70.0 million, or $1.38 per diluted share, compared to $60.4 million, or $1.19 per diluted share, in the second quarter of 2020. The increase was primarily due to higher net income at Idaho Power, driven by customer growth and increased sales volumes on a per-customer basis.
Net income attributable to IDACORP increased by $9.6 million compared to Q2 2020.
Customer growth increased operating income by $3.9 million, with customer base growing by 2.9 percent.
Higher sales volumes per customer increased operating income by $22.9 million, driven by warmer and drier weather.
Transmission wheeling-related revenues increased by $3.9 million due to increased wheeling volumes and higher OATT rates.
IDACORP
IDACORP
Forward Guidance
IDACORP increased its previously reported full-year 2021 earnings guidance to the range of $4.70 to $4.90 per diluted share and is reaffirming that Idaho Power does not expect to utilize any of the additional tax credits available under its Idaho earnings support regulatory mechanism in 2021.