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Dec 31, 2024
IDACORP Q4 2024 Earnings Report
IDACORP reported higher net income and earnings per share, driven by customer growth, rate changes, and tax credit utilization.
Key Takeaways
IDACORP, Inc. reported net income of $37.9 million for Q4 2024, a 21% increase from the prior year. Earnings per diluted share rose to $0.70 from $0.61 in Q4 2023. The company's financial performance was supported by strong customer growth, higher base rates, and favorable weather conditions, while higher depreciation and financing costs partially offset these gains.
Net income increased by 21% year-over-year, reaching $37.9 million.
EPS rose to $0.70 from $0.61 in Q4 2023.
Customer growth and higher base rates drove revenue growth.
Higher depreciation and financing costs partially offset gains.
Forward Guidance
IDACORP expects full-year 2025 earnings per diluted share in the range of $5.65 to $5.85, supported by tax credit utilization and continued customer growth.
Positive Outlook
- Earnings per share guidance raised to $5.65 - $5.85.
- Continued customer growth expected to drive revenue.
- Additional tax credits of $60-$77 million to support earnings.
- Capital expenditures projected at $1.0 - $1.1 billion.
- Hydropower generation expected between 6.5 and 8.5 MWh.
Challenges Ahead
- Higher depreciation expenses due to infrastructure investments.
- Increased interest expenses from higher debt balances.
- Higher pension and wildfire mitigation costs affecting margins.
- Regulatory changes could impact future cost recovery.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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