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. (NYSE: IDA) is a Boise, Idaho-based holding company whose primary business is the regulated electric utility operations of Idaho Power. News about IDACORP often centers on Idaho Power’s financial performance, regulatory developments, and long-term resource planning for its 24,000-square-mile service area in Idaho and Oregon.
Investors following IDA news can expect regular coverage of quarterly and year-to-date earnings results, including discussions of net income, earnings per share, customer growth, and the impact of rate changes approved by regulators. Company releases frequently explain how factors such as retail revenues per megawatt-hour, usage per retail customer, power cost adjustment mechanisms, and accumulated deferred investment tax credits affect Idaho Power’s operating income and net income.
Another key news theme is IDACORP’s interaction with state regulators through general rate cases and settlement stipulations. Updates describe requested and approved changes in annual Idaho-jurisdictional retail revenues, authorized returns on equity, rate base levels, and mechanisms for wildfire mitigation cost deferrals and revenue sharing with customers. These items are detailed in both company press releases and related Form 8-K filings.
News flow also includes information on capital markets activity, such as public offerings of common stock and related forward sale agreements, as well as updates on major infrastructure projects like high-voltage transmission lines and leased battery storage facilities. Dividend declarations and board-approved dividend increases are another recurring topic in IDACORP’s announcements.
By monitoring this IDA news page, readers can track how Idaho Power’s customer growth, capital expenditures, regulatory outcomes, and financing decisions are described by the company in its public communications and SEC-reported materials.
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.
IDACORP, Inc. reported Q1 2024 net income of $48.2 million, a decrease from Q1 2023 due to lower usage per customer, offset by rate changes and customer growth. The company reaffirmed its 2024 earnings guidance of $5.25-$5.45 per share, expecting higher capital spending. Idaho Power will use additional tax credits in 2024. Depreciation and interest expenses increased due to system investments, while other O&M expenses rose primarily from pension and wildfire mitigation costs. Total revenues increased, but transmission wheeling-related revenues decreased. Idaho Power expects growth in hydropower generation and O&M expenses in 2024.
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