IDACORP Reports Q4 Earnings of $0.70 per Share, Beats Estimates

IDACORP, Inc. reported a fourth-quarter 2024 earnings of $0.70 per share, surpassing analyst expectations of $0.63, and reflecting an increase from $0.61 in the previous year. The company's net income for the quarter was $37.9 million, contributing to a full-year net income of $289.2 million, aided by customer growth, favorable weather, and tax credits. Total revenue for 2024 reached $1.82 billion, up 3.4% from the prior year, with increased retail energy sales across customer segments. IDACORP has initiated guidance for 2025 earnings between $5.65 and $5.85 per share, supported by planned capital investments and ongoing tax credit utilization. The company continues to focus on enhancing infrastructure and operational efficiency through various strategic initiatives. Additionally, operating income increased due to rising retail revenues and customer growth, despite challenges from higher financing costs.