Q3 2025 Idacorp Inc Earnings Call Transcript
Key Points
- Idacorp Inc (IDA) reported an increase in diluted earnings per share to $2.26 for Q3 2025, up from $2.12 in the same quarter last year.
- The company raised its full-year earnings guidance for the second time in 2025, now expecting diluted EPS between $5.80 and $5.90.
- Customer growth remains strong, with a 2.3% increase in the customer base since last year's third quarter, including a 2.5% rise in residential customers.
- Idacorp Inc (IDA) continues to maintain competitive pricing, with customer bills 20% to 30% lower than the national average.
- The company is actively progressing on key infrastructure projects, such as the Boardman-to-Hemingway transmission line, which is crucial for accessing reliable energy in the Northwest.
- Idacorp Inc (IDA) experienced lower usage per customer due to a comparison with an unusually hot and dry third quarter last year.
- Higher operational and maintenance expenses were reported, driven by inflationary pressures on labor and professional services.
- The company terminated agreements for the 600-megawatt Jackalope Wind project due to policy changes affecting permitting.
- There is a need to identify alternative power supply solutions to meet future load growth, which could include short-term market purchases and additional solar and battery storage resources.
- The residential customer growth rate showed a slight decline, which could indicate a softening economy or impacts from higher interest rates.
Welcome to IDACORP's third quarter 2025 earnings call. Today's call is being recorded, and our webcast is live. A replay will be available later today and for the next 12 months on the IDACORP's website.(Operator Instructions)
I will now turn the call over to Amy Shaw, Vice President of Finance, Compliance and Risk.
Thank you. Good afternoon, everyone. We appreciate you joining our call. The slides we'll reference during today's call are available on IDACORP's website.
As noted on Slide 2, our discussion today includes forward-looking statements, including earnings guidance, spending forecast, financing plans, regulatory plans and actions and estimates and assumptions that reflect our current views on what the future holds, all of which are subject to risks and uncertainties.
These risks and uncertainties may cause actual results to differ materially from statements made today, and we caution against placing undue reliance
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