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EX - 99.1 2 exhibit991 - july292021.htm EX - 99.1 July 29 , 2021 Exhibit 99.1 IDACORP IDACORP , Inc. Announces Second Quarter 2021 Results , Increases 2021 Earnings Guidance BOISE -- IDACORP , Inc. ( NYSE : IDA ) reported second quarter 2021 net income attributable to IDACORP of $ 70.0 million , or $ 1.38 per diluted share , compared with $ 60.4 million , or $ 1.19 per diluted share , in the second quarter of 2020. For the first six months of 2021 , IDACORP reported net income attributable to IDACORP of $ 114.9 million , or $ 2.27 per diluted share , compared with $ 97.9 million , or $ 1.94 per diluted share , in the first six months of 2020 . " Continued robust customer growth , amplified by extreme heat across the western United States , led to new record loads on Idaho Power's systems and the highest second quarter earnings in IDACORP's history , " said IDACORP President and Chief Executive Officer Lisa Grow . " Our operators effectively managed through demanding conditions as we saw strong sales growth across all customer classes , as well as increased usage of Idaho Power's transmission system for the movement of energy to serve loads throughout the region . " We expect strong customer growth to continue , and we feel IDACORP is in a solid position heading into a period of increasing capital projects and infrastructure needs . " IDACORP increased its previously reported full - year 2021 earnings guidance to the range of $ 4.70 to $ 4.90 per diluted share and is reaffirming that Idaho Power does not expect to utilize any of the additional tax credits available under its Idaho earnings support regulatory mechanism in 2021. The earnings guidance also assumes normal weather conditions over the last six months of the year and a return to more normal economic conditions following the impact from COVID - 19 . Performance Summary A summary of financial highlights for the periods ended June 30 , 2021 and 2020 is as follows ( in thousands , except per - share amounts ) : Three months ended June 30 , Six months ended June 30 , 2021 2020 2021 2020 Net income attributable to IDACORP , Inc. Average outstanding shares diluted ( 000's ) IDACORP , Inc. earnings per diluted share $ 70,023 50,622 60,389 $ 50,567 114,854 $ 50,601 97,879 50,547 $ 1.38 $ 1.19 $ 2.27 $ 1.94