IDACORP(IDA) ZACKS·2025-02-20 19:30Core Viewpoint - IDACORP, Inc. reported strong financial performance for the fourth quarter and full year of 2024, with earnings per share exceeding estimates and overall revenue growth driven by customer growth and favorable weather conditions [1][2][3]. Financial Performance - Fourth-quarter 2024 earnings were 70 cents per share, surpassing the Zacks Consensus Estimate of 63 cents by 11.1%, compared to 61 cents per share in the same quarter last year [1]. - Full-year 2024 earnings reached 5.14 per share in the previous year, benefiting from strong customer growth and favorable weather [2]. - Total revenues for 2024 were 1.76 billion in 2023 [3]. Operational Highlights - Customer growth in service areas increased by 2.6% year over year for the 12 months ending December 31, 2024, contributing to a 6.6 million from the prior year, primarily due to higher net income at Idaho Power [5]. - The company added 7.2 MWh of hydropower to its generation portfolio in 2024 [5]. Financial Position - As of December 31, 2024, cash and cash equivalents were 327.4 million a year earlier [6]. - Long-term debt increased to 2.78 billion as of December 31, 2023 [6]. - Net cash provided by operating activities was 267 million in the previous year [6]. Guidance and Projections - IDACORP initiated its full-year 2025 earnings guidance of 5.85 per share, with the Zacks Consensus Estimate at 1 billion and 1.1 billion [7]. - The company anticipates O&M expenses to range from 465 million to $475 million and plans to add hydropower in the range of 6.5-8.5 MWh in 2025 [7].