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IDACORP Q2'19 earnings drop YOY; company raises 2019 guidance

IDACORP Inc. on Aug. 1 reported second-quarter 2019 net income attributable to the company of $53.2 million, or $1.05 per share, down from $62.3 million, or $1.23 per share, in the same quarter of 2018.

The company said in an earnings release that the decrease was due to lower net income at Idaho Power Co.

"Continued customer growth of 2.5 percent and prudent management of operating expenses helped offset the impact of cool and wet weather across Idaho Power's service area compared with last year's second quarter," IDACORP President and CEO Darrel Anderson said. "Despite the impacts of weather on sales, we recorded the fourth highest second quarter ever at IDACORP."

Looking ahead, the company raised its full-year 2019 EPS guidance to $4.35 to $4.50 from $4.30 to $4.45.