Welcome to our dedicated page for Idacorp news (Ticker: IDA), a resource for investors and traders seeking the latest updates and insights on Idacorp stock.
IDACORP, Inc. (symbol: IDA) is a prominent holding company that plays a significant role in the electric utility sector. Through its subsidiaries, IDACORP is actively engaged in the generation, transmission, distribution, sale, and purchase of electric energy and capacity. The company operates a diverse portfolio of power plants, including hydroelectric, coal-fired, gas-fired, and diesel-fired facilities, predominantly located across the Northwestern United States.
IDACORP's hydroelectric and coal-fired plants are particularly notable, as they account for the majority of the company's total energy production. The company's revenue is primarily derived from the sale of electricity to a broad customer base, including residential, commercial, and industrial consumers. Most of IDACORP’s customers are residential consumers residing in the Northwestern United States. However, commercial and industrial consumers also contribute significantly to its revenue streams.
In recent years, IDACORP has achieved several milestones and continues to focus on sustainable energy practices and innovations. The company's ongoing projects aim to enhance the efficiency and reliability of its power generation and distribution networks. IDACORP is also actively involved in strategic partnerships and initiatives to further its commitment to providing clean and reliable energy solutions.
The financial condition of IDACORP remains robust, supported by steady revenue from its diverse customer base and strategic investments in infrastructure and technology. As the energy landscape continues to evolve, IDACORP is well-positioned to leverage its extensive experience and resources to meet the growing demand for clean and efficient energy.
For the latest updates and developments related to IDACORP, Inc. and its stock performance, stay tuned to StockTitan and keep an eye on recent news and events.
IDACORP (NYSE: IDA) reported strong financial results for Q4 and full-year 2024. Fourth quarter net income reached $37.9 million ($0.70 per share), up from $31.3 million ($0.61 per share) in Q4 2023. Full-year 2024 net income increased to $289.2 million ($5.50 per share) from $261.2 million ($5.14 per share) in 2023.
The company benefited from 2.6% customer growth, rate changes, and favorable weather conditions. Higher depreciation and financing costs partially offset these benefits. Looking ahead, IDACORP initiated 2025 earnings guidance of $5.65 to $5.85 per diluted share, expecting to use $60-77 million in additional tax credits under Idaho's regulatory mechanism.
Key drivers of 2024's performance included increased retail revenues, successful property tax litigation resulting in refunds, and moderate wholesale power prices. However, the company faced higher O&M expenses, particularly in pension-related costs and wildfire mitigation programs.
IDACORP (NYSE: IDA) has announced it will release its fourth quarter 2024 earnings report on Thursday, February 20, before market open. The company will host an analyst conference call at 2:30 p.m. Mountain Time (4:30 p.m. Eastern Time) on the same day to discuss the results.
Interested parties can access the call through a live webcast or by calling 855-761-5600 in listen-only mode using passcode 9290150. The presentation slides will be available on the company's website during the call. A replay of the conference call will be accessible on IDACORP's website for 12 months following the event.
IDACORP (NYSE: IDA) has announced its board of directors has declared a dividend of $0.86 per share on its common stock. The dividend will be paid on February 28, 2025, to shareholders who are recorded as holders at the close of business on February 5, 2025.
IDACORP reported Q3 2024 net income of $113.6 million ($2.12 per share), up from $105.3 million ($2.07 per share) in Q3 2023. The increase was driven by customer growth (+2.6%), rate changes, and favorable weather conditions. The company raised the lower end of its 2024 earnings guidance to $5.35-$5.45 per share. Idaho Power announced plans to procure company-owned battery resources and its first wind power project in Wyoming. Higher depreciation and interest expenses partially offset the quarter's benefits. Tax credits expected to support earnings improved to $25-35 million for 2024.
IDACORP, Inc. (NYSE:IDA) has scheduled its third quarter 2024 earnings release for Thursday, October 31, before the stock markets open. The company will host an analyst conference call at 2:30 p.m. Mountain Time (4:30 p.m. Eastern Time) on the same day to discuss the results. Interested parties can join via a live webcast or by calling (855) 761-5600 for listen-only mode, using the passcode 9290150.
Conference call details and slides will be available on IDACORP's website. A replay of the call will be accessible on the company's website for 12 months. IDACORP, formed in 1998, is a holding company that includes Idaho Power Company, IDACORP Financial, and Ida-West Energy. Idaho Power, serving southern Idaho and eastern Oregon, aims for 100% clean energy by 2045.
IDACORP, Inc. (NYSE: IDA) has announced an increase in its regular quarterly cash dividend to $0.86 per share, resulting in an indicated annual dividend of $3.44 per share. This marks the company's 13th consecutive year of dividend increases since 2011, with a cumulative increase of 187% and a compound annual growth rate of 7.8%.
CEO Lisa Grow highlighted the company's commitment to reinvesting in Idaho Power's growth while managing dilution. IDACORP expects to decouple dividend and earnings per share growth rates, maintaining a long-term target dividend payout ratio of 60% to 70% of sustainable earnings. However, the near-term payout ratio may fall below this range. The actual dividend declaration and approval remain at the Board's discretion, considering various financial and economic factors.
IDACORP (NYSE: IDA) reported Q2 2024 net income of $89.5 million, or $1.71 per diluted share, up from $68.6 million, or $1.35 per share, in Q2 2023. The company increased its 2024 earnings guidance to $5.30-$5.45 per diluted share. Key factors contributing to the strong results include:
1. Higher customer usage and continued customer growth
2. Rate changes implemented earlier in the year
3. Increased retail revenues per MWh
4. Customer base growth of 2.6% (16,200 new customers)
5. 17% increase in irrigation customer usage
However, these positives were partially offset by higher depreciation expenses and increased O&M costs, including pension-related expenses and wildfire mitigation program costs.
IDACORP (NYSE:IDA) has declared a common stock dividend of $0.83 per share. The dividend is payable on August 30, 2024 to shareholders of record at the close of business on August 5, 2024. This announcement demonstrates IDACORP's commitment to providing regular returns to its shareholders. The declaration of dividends is often seen as a positive sign of a company's financial health and confidence in its future performance. However, investors should always consider the sustainability of dividend payments and the company's overall financial position when making investment decisions.
IDACORP (NYSE:IDA) has announced it will release its second quarter 2024 earnings on Thursday, August 1, before market open. The company will host an analyst conference call at 2:30 p.m. Mountain Time (4:30 p.m. Eastern Time) to discuss the results. Interested parties can join via webcast or by calling (888) 596-4244 with passcode 2921833. A slide deck will be available on the company's website, and a replay of the call will be accessible for 12 months.
IDACORP, formed in 1998, is a holding company that includes Idaho Power Company, a regulated electric utility serving southern Idaho and eastern Oregon. Idaho Power, founded in 1916, employs about 2,000 people and aims for 100% clean energy by 2045. The company serves over 630,000 customers with low-cost hydropower and offers competitive electricity rates.
The Pleasant Valley Solar project partners—Matrix Renewables, rPlus Energies, Sundt Construction, EliTe Solar, and Idaho Power—have committed $123,000 to scholarships at Boise State University and the College of Western Idaho. Each institution will receive $61,500 for two new scholarships: the Local First – Pleasant Valley Solar Scholarship and the Energy First – Pleasant Valley Solar Scholarship. The Local First Scholarship aims to support students in counties where rPlus Energies operates, while the Energy First Scholarship focuses on students pursuing careers in the energy sector. Both scholarships will be available starting December 2024. This initiative aligns with Matrix Renewables' mission to promote sustainable energy practices and community development. The Pleasant Valley Solar project, a 200 MW solar installation, is currently under construction and will power Meta's new data center in Kuna, ID.
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