IDACORP Q3 2023 Earnings Report
Key Takeaways
IDACORP's Q3 2023 net income was $105.3 million, a slight decrease from $106.4 million in Q3 2022. The company is raising the bottom-end of its full-year 2023 earnings guidance to $5.05 to $5.15 per diluted share.
Net income attributable to IDACORP decreased to $105.3 million, or $2.07 per diluted share, compared to $106.4 million, or $2.10 per diluted share, in Q3 2022.
Customer growth positively impacted operating income, with approximately 14,000 new customers, a 2.3% increase, over the last twelve months.
Warmer temperatures and greater precipitation reduced customer usage, decreasing operating income by $17.2 million.
IDACORP is raising the bottom-end of its previously reported full-year 2023 earnings guidance to a range of $5.05 to $5.15 per diluted share.
IDACORP
IDACORP
Forward Guidance
IDACORP is increasing the bottom-end of its earnings guidance estimate for 2023, adjusting its expectation for the use of additional tax credits, and raising its expected range for capital expenditures.
Positive Outlook
- IDACORP Earnings Guidance (per share) $ 5.05 – $ 5.15
- Idaho Power Additional ADITCs Up to $10 million
- Idaho Power Capital Expenditures, Excluding AFUDC $ 675 – $ 725 million
- Idaho Power Hydropower Generation (MWh)6.4 – 6.8