IDACORP Q1 Earnings Beat Estimates on Rate Changes & Customer Growth

IDACORP, Inc. IDA reported first-quarter 2025 earnings of $1.10 per share, which surpassed the Zacks Consensus Estimate of $1.03 by 6.8%. (See the Zacks Earnings Calendar to stay ahead of market-making news.)

The company’s earnings improved 15.8% from 95 cents per share in the year-ago quarter. The year-over-year improvement was due to strong customer growth and rate changes.

IDA’s Total Revenues

Total revenues for first-quarter 2025 were $432.4 million, down 5.6% from the Zacks Consensus Estimate of $458 million. The metric was down 3.8% from $449 million in the year-ago quarter.

IDACORP, Inc. Price, Consensus and EPS Surprise

IDACORP, Inc. price-consensus-eps-surprise-chart | IDACORP, Inc. Quote

Highlights of IDA’s Q1 Release

Customer growth rate in the company’s service areas increased 2.6% year over year for the 12 months ended on March 31, 2025. This, in turn, boosted operating income by $7.3 million compared with the year-ago level.

Total operating expenses were $377.5 million, down 5.5% from the year-ago quarter. The decline in operating expenses was due to lower purchased power and fuel expenses.

IDACORP's net income was $59.6 million, up 23.4% from the prior-year level.

IDA’s Financial Highlights

As of March 31, 2025, cash and cash equivalents were $634.5 million compared with $368.9 million as of Dec. 31, 2024.

Long-term debt was $3.44 billion as of March 31, 2025, compared with $3.05 billion as of Dec. 31, 2024.

In first-quarter 2025, net cash provided by operating activities was $124.3 million compared with $109.7 million in the prior year.

IDA’s Guidance

IDACORP reiterated its full-year 2025 earnings guidance of $5.65-$5.85 per share. The Zacks Consensus Estimate is currently pegged at $5.81 per share.

It anticipates capital expenditures to be in the range of $1-$1.1 billion in 2025.

The company expects O&M expenses to be in the range of $465-$475 million.

Management expects to add hydropower in the range of 7-8.5 MWh in 2025.

IDA’s Zacks Rank

IDACORP currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Other Releases

DTE Energy Company DTE reported first-quarter 2025 operating earnings per share of $2.10, which beat the Zacks Consensus Estimate of $1.46 by 3.4%.

DTE’s long-term (three to five years) earnings growth rate is 7.64%. The Zacks Consensus Estimate for 2025 earnings is pinned at $7.24, implying a year-over-year increase of 6%.

Exelon Corporation’s EXC first-quarter 2025 earnings of 92 cents per share surpassed the Zacks Consensus Estimate of 85 cents by 8.3%.

EXC’s long-term earnings growth rate is 6.643%. The Zacks Consensus Estimate for 2025 earnings is pinned at $7.24, implying a year-over-year increase of 6%.

Edison International EIX reported first-quarter 2025 adjusted earnings of $1.37 per share, which surpassed the Zacks Consensus Estimate of $1.21 by 13.2%.

EIX’s long-term earnings growth rate is 6.97%. It delivered an average earnings surprise of 8.82% in the last four quarters.


 

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This article originally published on Zacks Investment Research (zacks.com).

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