IDACORP Affirms FY22 Earnings Outlook; Q1 Profit Edges Up

(RTTNews) - While reporting financial results for the first quarter on Thursday, electric utility IDACORP, Inc. (IDA) affirms its earnings guidance for the full year 2022.

For fiscal 2022, the company continues to project earnings in a range of $4.85 to $5.05 per share. On average, five analysts polled by Thomson Reuters expect the company to report earnings of $5.00 per share for the year. Analysts' estimates typically exclude special items.

The company is also affirming 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.

For the first quarter, the company reported net income attributable to IDACORP of $46.3 million or $0.91 per share, lower than $44.8 million or $0.89 per share in the prior-year quarter. The Street was looking for earnings of $0.92 per share for the quarter.