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IDACORP, Inc (NYSE:IDA) Q2 2024 Results Conference Call August 1, 2024 4:30 PM ET Company Participants Amy Shaw - Vice President of Finance, Compliance & Risk Lisa Grow - President and Chief Executive Officer Brian Buckham - SVP, Chief Financial Officer and Treasurer Adam Richins - SVP and COO Tim Tatum - Vice President of Regulatory Affairs Conference Call Participants Shar Pourreza - Guggenheim Partners David Arcaro - Morgan Stanley Alex Mortimer - Mizuho Julien Dumoulin - Jefferies Operator Welcome to ID ...

IDACORP, Inc. (IDA) reported second-quarter 2024 earnings of $1.71 per share, which beat the Zacks Consensus Estimate of $1.37 by 24.8%. The company reported earnings of $1.35 per share in the year-ago quarter. Total Revenues IDACORP's total revenues were $451 million, which surpassed the Zacks Consensus Estimate of $421 million by 7.2%. The top line increased 8.9% from the year-ago quarter's $414 million. Highlights of the Release Customer growth in the company's service areas increased 2.6% year over year ...

IdaCorp (IDA) came out with quarterly earnings of $1.71 per share, beating the Zacks Consensus Estimate of $1.37 per share. This compares to earnings of $1.35 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 24.82%. A quarter ago, it was expected that this utility company would post earnings of $1.02 per share when it actually produced earnings of $0.95, delivering a surprise of -6.86%. Over the last four quarters, the company ...

Exhibit 99.1 August 1, 2024 IDACORP, Inc. Announces Second Quarter 2024 Results, Increases Lower-End 2024 Earnings Guidance BOISE, Idaho--IDACORP, Inc. (NYSE: IDA) reported second quarter 2024 net income attributable to IDACORP of $89.5 million, or $1.71 per diluted share, compared with $68.6 million, or $1.35 per diluted share, in the second quarter of 2023. "Higher than expected customer usage in the second quarter, continued customer growth, and rate changes earlier this year contributed to strong result ...

f Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | --- | --- | |------------------------------|------------------------------------------------------------------------------------------------------------------------------------ ...

IDACORP Inc.'s (IDA) planned investments are expected to strengthen its infrastructure, which should help boost performance. The company's cost management and focus on producing more electricity from clean sources act as tailwinds. Given its growth opportunities, IDA makes for a solid investment option in the utility sector. Let's explore the factors that make this Zacks Rank #2 (Buy) company a strong investment pick at the moment. Growth Projections & Surprise History The Zacks Consensus Estimate for IDACO ...

A shot of high voltage electric power lines at sunset. imaginima It's not a secret that utilities have been off to the races lately. The Utilities Select Sector SPDR Fund ETF (XLU) has gained 14% year to date. This is ahead of the 12% gains of the S&P 500 index (SP500). IDA's operating revenue edged higher by 4.5% year-over-year to $448.9 million during the first quarter ended March 31, 2024. This was $55 million ahead of the analyst consensus for the quarter per Seeking Alpha. That outperformance makes sen ...

Financial Data and Key Metrics Changes - IDACORP's diluted earnings per share for Q1 2024 were $0.95, down from $1.11 in Q1 2023, reflecting a decrease in net income of $7.9 million compared to the previous year [36][44] - Total revenues for the first quarter increased by 12% year-over-year, primarily due to an increase in wheeling volumes [26] - Operating cash flow improved significantly, with a net increase of $200 million compared to the previous year, aided by changes in power supply cost rates and reduced volatility [29] Business Line Data and Key Metrics Changes - Customer growth contributed an increase of $4.7 million to operating income, with a 2.5% growth in the customer base and a robust 2.8% growth in residential customers [25] - Retail revenues per megawatt hour increased operating income by $4.5 million, largely due to base rate increases from the 2023 Idaho general rate case settlement [45] - Transmission wheeling-related revenues decreased by $2.8 million, influenced by the financial settlement of transmission line losses [26] Market Data and Key Metrics Changes - The region's GDP is forecasted to grow by 4.6% in 2024 and 3.6% in 2025, indicating a strong economic environment that supports IDACORP's growth [20] - The company is experiencing significant interest from large projects, with several exceeding 100 megawatts, reflecting a robust pipeline of prospective customers [20] Company Strategy and Development Direction - IDACORP is focused on maintaining a balanced capital structure with a 50-50 debt-equity mix to fund growth investments [2] - The company plans to convert remaining coal-fired units to natural gas, reducing carbon emissions while maintaining generating capacity [41] - A limited scope rate case is planned for May 31, 2024, to address capital additions and labor increases, reflecting a strategic regulatory approach [40][57] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in meeting customer demand and maintaining affordability while navigating permitting and supply chain constraints [39] - The company anticipates a strong hydropower generation forecast, now expected to be between 6.5 million to 8 million megawatt-hours for the year, benefiting from a solid snowpack [49] - Management highlighted the importance of regulatory strategies in managing operational costs and ensuring recovery of increased expenses [57] Other Important Information - The company is implementing a Wildfire Mitigation Plan to enhance system resilience and safety [12] - Non-operating expenses increased by $1.8 million due to higher interest expenses from last year's debt issuances, partially offset by increased interest income [28] Q&A Session Summary Question: Will there be additional guidance or disclosures regarding forward financing plans? - Management indicated that updates on capital plans and forecasts will be provided as RFP results become available, with a potential update expected in the second quarter [30][52] Question: What motivated the decision to file a limited scope case versus a full case? - Management explained that the decision was based on effective management of O&M costs and a focus on regulatory strategies that align with capital investments [32][54]

SIDACORP | --- | --- | --- | --- | --- | --- | |-------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | Forward-Looking Statements This presentation (and oral statements relating to this presentation) contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements, other than statements of historical facts, that express or involve discussions of expectations, beliefs, plans, objectives, outlooks, ...