IDACORP Affirms Earnings Guidance - Quick Facts

(RTTNews) - IDACORP, Inc. (IDA) affirmed its previously reported full year 2020 earnings guidance in the range of $4.45 to $4.65 per share. The company also affirmed that Idaho Power does not expect to utilize in 2020 any of the additional tax credits available under its Idaho earnings support mechanism and assuming normal weather conditions for the remainder of the year.

The company said, to-date, Idaho Power has not experienced significant disruption to its business operations, critical supply chain shortages, or major declines in customer usage related to COVID-19. Idaho Power estimates that the effect on retail revenues of the lower usage per commercial customer due to the COVID-19 public health crisis was less than $1 million in the first quarter of 2020.

First quarter net income per share was $0.74 compared to $0.84, a year ago. Analysts polled by Thomson Reuters expected the company to report profit per share of $0.80, for the quarter. Analysts' estimates typically exclude special items.