Idacorp Stock Price, News & Analysis

IDACORP, Inc. (NYSE: IDA) reported a net income of $46.3 million for Q1 2022, or $0.91 per diluted share, an increase from $44.8 million or $0.89 per share in Q1 2021. Key growth factors included a 2.6% increase in customer base and higher energy usage due to colder weather. However, inflation and supply chain challenges persist. IDACORP reaffirms its earnings guidance of $4.85 to $5.05 per share for 2022, assuming normal weather and operational stability.

Duke Energy Sustainable Solutions has commenced construction on the 120-megawatt Jackpot Solar project in Twin Falls County, Idaho, marking its first renewable energy facility in the state. Upon completion, it will be Idaho's largest solar facility and is scheduled to be operational by the end of 2022. The project will supply energy to Idaho Power under a 20-year power purchase agreement, aiding Idaho Power's goal of achieving 100% clean energy by 2045. The initiative is expected to employ around 200 workers and generate significant economic benefits for the local community.

BOISE, Idaho -- Directors of IDACORP (NYSE:IDA) announced a common stock dividend of $0.75 per share. This dividend is payable on May 31, 2022, to stockholders on record as of May 3, 2022. The decision reflects IDACORP's commitment to returning value to its shareholders while maintaining financial stability.

IDACORP, Inc. (NYSE:IDA) is set to announce its first quarter earnings results on May 5. A conference call will follow at 2:30 PM MT for analysts to discuss the results. Interested parties can join via a live Webcast or phone. IDACORP operates Idaho Power Company, a regulated electric utility, aiming for 100% clean energy by 2045. With over 600,000 customers, Idaho Power provides some of the country's lowest electricity prices, supported by its diverse energy mix including 17 hydropower projects.

IDACORP reported a fourth quarter 2021 net income of $32.8 million, or $0.65 per diluted share, down from $37.5 million or $0.74 per share in Q4 2020. For the full year, net income rose to $245.6 million ($4.85/share) from $237.4 million ($4.69/share) in 2020. The company announced its 2022 earnings guidance between $4.85 to $5.05 per share and anticipates a 40% increase in capital expenditures due to resource additions. Key growth factors included customer growth of 2.8% and increased transmission revenues, despite challenges like lower per-customer sales and higher operational costs.

IDACORP, Inc. (NYSE:IDA) is set to release its fourth quarter results on February 17, before the market opens. An analyst conference call will be held at 2:30 PM Mountain Time to discuss these earnings. The company operates through Idaho Power, which serves over 600,000 customers in Idaho and Oregon. IDACORP aims for 100% clean energy by 2045, leveraging its 17 low-cost hydropower projects.

Directors of IDACORP (NYSE:IDA) declared a common stock dividend of $0.75 per share. This dividend is payable on February 28, 2022 to shareholders on record as of the close of business on February 3, 2022. This announcement reflects IDACORP's commitment to returning value to its shareholders.

IDACORP, Inc. (NYSE:IDA) announced that Steven R. Keen will retire as CFO on October 1, 2022, after 40 years of service. Keen has led the company to 13 consecutive years of growth in earnings per share, serving as CFO since May 2014. Brian R. Buckham will succeed him as CFO effective March 1, 2022. Buckham has extensive experience in securities law and corporate governance, having been with Idaho Power since 2010. Pat Harrington will become Vice President, General Counsel.

IDACORP reported Q3 2021 net income of $97.9 million ($1.93/share), down from $102.0 million ($2.02/share) in Q3 2020. For the first nine months, net income rose to $212.8 million ($4.20/share), up from $199.9 million ($3.95/share) for the same period last year. Customer growth and increased transmission revenues contributed positively. IDACORP raised its full-year earnings guidance to $4.80-$4.90/share from $4.70-$4.90/share, highlighting expectations for continued growth despite challenges from weather variations and the impact of COVID-19 adjustments.