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Jun 30, 2021
IDACORP Q2 2021 Earnings Report
IDACORP reported increased earnings due to customer growth and extreme heat, leading to record loads and the highest second quarter earnings in history.
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.
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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