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Jun 30, 2022
IDACORP Q2 2022 Earnings Report
IDACORP reported a decrease in net income for Q2 2022, primarily due to lower net income at Idaho Power, but increased the bottom-end of its 2022 earnings guidance.
Key Takeaways
IDACORP's second quarter 2022 net income attributable to IDACORP was $64.3 million, or $1.27 per diluted share, compared to $70.0 million, or $1.38 per diluted share, in the second quarter of 2021. The company is increasing the bottom-end of its previously reported full-year 2022 earnings guidance to the range of $4.95 to $5.05 per diluted share.
Net income decreased by $5.7 million compared to Q2 2021, mainly due to lower net income at Idaho Power.
Customer growth at Idaho Power increased operating income by $2.7 million, with a 2.6% increase in customers.
Lower sales volumes per customer decreased operating income by $25.9 million due to milder weather and greater precipitation.
The company increased the bottom-end of its full-year 2022 earnings guidance to $4.95 - $5.05 per diluted share.
IDACORP
IDACORP
Forward Guidance
IDACORP is increasing the bottom end of its earnings guidance estimate for 2022. The 2022 guidance incorporates all of the key operating and financial assumptions.