IDACORP Surges to 296th in Market Rankings with $277 Million Turnover

On May 9, 2025, IDACORP (IDA) saw a significant surge in trading volume, with a turnover of $277 million, marking a 493.71% increase from the previous day. This substantial rise in trading activity placed IDACORP at the 296th position in the day's stock market rankings. The stock price of IDACORP increased by 1.13%.

IDACORP has expanded its common stock offering to $500 million, up from the previously announced $450 million. The price range for this offering is set at $110.25 to $112.25 per share. The financial institutions Morgan Stanley, JPMorgan, and Wells Fargo are serving as the joint book-running managers for this transaction.

IDACORP reported an increase in diluted earnings per share to $1.10 from $0.95 in the previous year's first quarter. The company reaffirmed its full-year earnings guidance range of $5.65 to $5.85 per share. Customer growth in the Idaho Power service area was strong, with a 2.6% increase in the customer base, including a 2.9% rise in residential customers. Significant new customer investments were noted, including a $500 million expansion by Chobani and a $225 million distribution center by Tractor Supply Company. IDACORP is making progress on infrastructure projects, including an 80-megawatt battery project and a 150-megawatt storage agreement, both on track for completion soon.

However, higher depreciation and interest expenses were noted due to ongoing infrastructure projects. Other operating and maintenance expenses increased by $7.2 million, partly due to wildfire mitigation and insurance costs. The company faces potential impacts from tariffs on battery storage assets, which are being closely monitored. IDACORP anticipates the need for substantial external financing, including $1.4 billion in equity and $2.2 billion in debt over the next five years. Regulatory lag remains a concern, with efforts underway to reduce its negative effects on financial performance.