IDACORP, Inc. Reports Strong Q1 2025 Earnings Growth and Revenue Decline
IDACORP, Inc. (IDA) announced first-quarter 2025 earnings of $1.10 per share, exceeding the Zacks Consensus Estimate of $1.03 by 6.8%. This result marks a 15.8% increase compared to 95 cents per share in the same quarter last year, attributed to robust customer growth and favorable rate changes.
Revenue Overview
For the first quarter of 2025, IDACORP’s total revenues reached $432.4 million, falling short of the Zacks Consensus Estimate of $458 million by 5.6%. This figure also represents a decline of 3.8% from $449 million reported in the previous year’s quarter.
IDACORP, Inc. Price, Consensus and EPS Surprise
IDACORP, Inc. price-consensus-eps-surprise-chart | IDACORP, Inc. Quote
Q1 Highlights
The customer growth rate in IDACORP’s service areas rose by 2.6% year over year for the 12 months ending March 31, 2025. This increase contributed an extra $7.3 million in operating income compared to the previous year.
Total operating expenses were $377.5 million, declining 5.5% from the prior-year quarter due to decreased purchased power and fuel expenses.
IDACORP’s net income increased to $59.6 million, reflecting a growth of 23.4% year over year.
Financial Position
As of March 31, 2025, IDACORP reported cash and cash equivalents of $634.5 million, a significant rise from $368.9 million on December 31, 2024. However, long-term debt increased to $3.44 billion from $3.05 billion during the same period.
Operating activities provided net cash of $124.3 million in the first quarter of 2025, up from $109.7 million in the previous year.
Future Guidance
IDACORP maintains its full-year earnings guidance for 2025 at $5.65 to $5.85 per share, aligning closely with the Zacks Consensus Estimate of $5.81 per share. The company projects capital expenditures between $1 billion and $1.1 billion for the year and expects operations and maintenance (O&M) expenses to range from $465 million to $475 million. Additionally, management plans to add hydropower capacity of 7-8.5 MWh within 2025.
Zacks Rank
IDACORP currently holds a Zacks Rank of #3 (Hold).
Other Industry Releases
DTE Energy Company (DTE) posted first-quarter 2025 operating earnings of $2.10 per share, beating the Zacks Consensus Estimate of $1.46 by 3.4%. DTE forecasts a long-term earnings growth rate of 7.64%, with 2025 earnings estimated at $7.24, indicating a 6% increase year over year.
Exelon Corporation (EXC) reported Q1 2025 earnings of 92 cents per share, surpassing estimates of 85 cents by 8.3%. EXC has a projected long-term earnings growth rate of 6.643% and also estimates 2025 earnings at $7.24, marking a 6% annual increase.
Edison International (EIX) reported adjusted earnings of $1.37 per share for the first quarter of 2025, exceeding the Zacks Consensus Estimate of $1.21 by 13.2%. EIX has a long-term growth rate of 6.97% and an average surprise of 8.82% over the last four quarters.
