IDACORP Raises Lower-End Of Its Previously Reported FY24 Earnings Guidance To The Range Of $5.30-$5.45 Vs $5.39 Est.

Author: Benzinga Newsdesk | August 01, 2024 07:38am

IDACORP is increasing the lower-end of its previously reported full-year 2024 earnings guidance to the range of $5.30 to $5.45 per diluted share, with the expectation that Idaho Power will use between $35 and $50 million of additional tax credits available under the Idaho earnings support regulatory mechanism in 2024. Approximately $25 million of those additional tax credits relate to expected amortization of incremental tax credits generated from Idaho Power's investment in 2023 battery storage projects, as contemplated in the settlement stipulation for Idaho Power's 2023 Idaho general rate case (2023 Settlement Stipulation) approved by the Idaho Public Utilities Commission in December 2023. The earnings guidance also assumes normal weather conditions and normal power supply expenses through the remainder of the year.

Posted In: IDA