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Sep 30, 2021
IDACORP Q3 2021 Earnings Report
IDACORP's net income decreased due to lower net income at Idaho Power, influenced by customer growth offset by FCA mechanism and increased O&M expenses.
Key Takeaways
IDACORP reported a decrease in net income for the third quarter of 2021 compared to the same period in 2020, primarily driven by lower net income at Idaho Power. Customer growth was offset by the FCA mechanism and increased O&M expenses. However, the company tightened its full-year earnings guidance upward.
Net income attributable to IDACORP decreased to $97.9 million, or $1.93 per diluted share, compared to $102.0 million, or $2.02 per diluted share, in Q3 2020.
Customer growth at Idaho Power increased operating income by $5.1 million, with customer base growing by over 16,800, or 2.9 percent.
Transmission wheeling-related revenues increased by $4.7 million due to warmer weather and new long-term wheeling agreements.
IDACORP tightened its full-year 2021 earnings guidance upward to a range of $4.80 to $4.90 per diluted share.
Forward Guidance
IDACORP is tightening its earnings guidance estimate upward for 2021 to $4.80 - $4.90 per share.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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