IDACORP, Inc.: Initiation of Coverage – Resource Procurement & Infrastructure Expansion

IDACORP’s first quarter 2024 performance manifests a mixed financial landscape, characterized by both challenges and strategic advancements in its operational and regulatory domains. The company reported a decline in diluted earnings per share from $1.11 in the first quarter of the previous year to $0.95 in the current reporting period. This decrease is attributed primarily to milder weather which lowered energy consumption, and heightened operational and maintenance costs driven by increases in wildfire mitigation expenses and labor.