IDACORP, Inc. Announces First Quarter 2021 Results, Affirms 2021 Earnings Guidance
IDACORP, Inc. (NYSE: IDA) reported a net income of $44.8 million or $0.89 per diluted share for Q1 2021, a rise from $37.5 million or $0.74 per diluted share in Q1 2020.
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IDACORP, Inc. (NYSE: IDA) reported first quarter 2021 net income attributable to IDACORP of
“Our customer count grew
“This growth, combined with increased transmission-related revenues from higher rates and colder weather in the southwest U.S., more than offset a slight decrease in commercial customer sales related to the pandemic. Lower operations and maintenance expenses across the business also increased earnings this quarter.
"We expect robust customer growth to continue throughout 2021, as residential and business customers continue migrating to Idaho in search of our high quality-of-life and business-friendly environment."
IDACORP affirms its previously reported full-year 2021 earnings guidance to the range of
Performance Summary
A summary of financial highlights for the quarter ended March 31, 2021 and 2020 is as follows (in thousands, except per-share amounts):
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Three months ended March 31, |
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2021 |
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2020 |
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Net income attributable to IDACORP, Inc. |
|
$ |
44,831 |
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|
$ |
37,490 |
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Average outstanding shares – diluted (000’s) |
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50,580 |
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|
50,527 |
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IDACORP, Inc. earnings per diluted share |
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$ |
0.89 |
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$ |
0.74 |
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The table below provides a reconciliation of net income attributable to IDACORP for the three months ended March 31, 2021, from the same period in 2020 (items are in