IDACORP, Inc. Revised Earnings Guidance for the Full Year of 2022
August 04, 2022 at 11:30 am
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IDACORP, Inc. revised earnings guidance for the full year of 2022. The company is increasing the bottom-end of its previously reported full-year 2022 earnings guidance to the range of $4.95 to $5.05 per diluted share, and is also reaffirming that IDACORP does not expect Idaho Power to utilize any of the additional tax credits available under its Idaho earnings support regulatory mechanism in 2022. The earnings guidance also assumes normal weather conditions over the balance of the year.
IDACORP, Inc. is a holding company. The Company operates through its subsidiary, Idaho Power Company (Idaho Power). Idaho Power is an electric utility engaged in the generation, transmission, distribution, sale, and purchase of electric energy and capacity and is regulated by the state regulatory commissions of Idaho and Oregon and by the Federal Energy Regulatory Commission (FERC). Idaho Power provides electric utility service to over 633,000 retail customers in southern Idaho and eastern Oregon. Its customers are in food processing, electronics and general manufacturing, agriculture and other sectors. Idaho Power also provides irrigation customers with electric utility service to operate irrigation pumps during the agricultural growing season. Its other subsidiaries include IDACORP Financial Services, Inc. (IFS), an investor in affordable housing and other real estate tax credit investments, and Ida-West Energy Company (Ida-West), an operator of small hydropower generation projects.