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Dec 31, 2020
IDACORP Q4 2020 Earnings Report
IDACORP's Q4 2020 earnings decreased due to lower net income at Idaho Power and IDACORP Financial Services, Inc.
Key Takeaways
IDACORP reported a decrease in net income for the fourth quarter of 2020, primarily driven by lower net income at Idaho Power and IDACORP Financial Services. Customer growth and higher sales volumes per customer partially offset these declines. The company is initiating its full-year 2021 earnings guidance in the range of $4.60 to $4.80 per diluted share.
IDACORP's net income decreased by $9.6 million in Q4 2020 compared to Q4 2019.
Customer growth increased operating income by $3.2 million, with a 2.7% increase in Idaho Power customers.
Higher sales volumes per customer increased operating income by $0.6 million, driven by residential customer usage.
Increased O&M expenses and higher income tax expense negatively impacted net income.
Forward Guidance
IDACORP is initiating its full-year 2021 earnings guidance in the range of $4.60 to $4.80 per diluted share, assuming normal weather conditions and customer usage returning closer to pre-COVID-19 levels.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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