Idacorp (IDA) Q2 FY2024 earnings: revenue $451 million, up 9.0% on the year

Idacorp Inc. (IDA) reported revenue of $451 million for Q2 FY2024, the quarter ended 30 June 2024, up 9.0% on the same quarter a year earlier. Net income was $90 million, up 30.5% on the year, and diluted earnings per share $1.71. The figures are the company's own, from the 10-Q it filed with the SEC on 1 August 2024.

Revenue$451 millionup 9.0%

Net income$90 millionup 30.5%

Diluted EPS$1.71

QuarterQ2 FY2024ended 30 June 2024

The quarter, against the one before and a year earlier

Line	Q2 FY2024	Q1 FY2024	A year earlier	Change on the year
Revenue	451	449	n/a	n/a
Operating income	103	49.6	n/a	n/a
Operating margin	22.9%	11.0%	n/a
Interest expense	32.5	32.8	n/a	n/a
Pre-tax income	97.9	42.7	n/a	n/a
Income tax	8.1	-5.5	n/a	n/a
Effective tax rate	8.2%	-13.0%	n/a
Net income	89.5	48.2	n/a	n/a
Net margin	19.8%	10.7%	n/a
Diluted EPS	$1.71	$0.95	n/a	n/a

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q2 FY2024	Q1 FY2024	A year earlier	Change on the year
Operating cash flow	146	110	n/a	n/a
Capital expenditure	346	260	n/a	n/a
Free cash flow	-200	-150	n/a	n/a
Free cash flow margin	-44.2%	-33.5%	n/a
Cash from investing	-324	-235	n/a	n/a
Cash from financing	189	-44.9	n/a	n/a
Depreciation and amortisation	55.9	55.2	n/a	n/a
Dividends paid	42.1	42.7	n/a	n/a
Dividend per share	$0.83	$0.83	n/a	n/a
Diluted shares, weighted	52m	51m	n/a	n/a
Shares outstanding at period end	53m	51m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q2 FY2024	Q1 FY2024	A year earlier	Change on the year
Shareholders' equity	3,196	2,915	n/a	n/a
Non-controlling interest	7.6	7.3	n/a	n/a
Debt	2,776	2,776	n/a	n/a
Other liabilities	2,697	2,649	n/a	n/a
Total liabilities and equity	8,677	8,347	n/a	n/a
Fixed assets	6,117	5,846	n/a	n/a
Investments	166	156	n/a	n/a
Cash and equivalents	170	158	n/a	n/a
Receivables	132	116	n/a	n/a
Other assets	2,093	2,071	n/a	n/a
Total assets	8,677	8,347	n/a	n/a

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	511	412	449	451	529	398	432	451	524	405	403	470
Operating income	126	36.8	49.6	103	134	41.3	54.9	101	145	53.7	81.2	131
Operating margin	25%	9%	11%	23%	25%	10%	13%	22%	28%	13%	20%	28%
Interest expense	29.4	33.3	32.8	32.5	34.1	36.4	37.0	42.5	44.9	43.8	44.2	47.4
Pre-tax income	119	29.7	42.7	97.9	130	34.2	47.2	89.4	132	41.5	68.5	117
Tax rate	12%	-6%	-13%	8%	13%	-11%	-26%	-7%	6%	-5%	1%	12%
Net income	105	31.3	48.2	89.5	114	37.9	59.6	95.8	124	43.6	68.0	103
Net margin	21%	8%	11%	20%	21%	10%	14%	21%	24%	11%	17%	22%
Diluted EPS	$2.07	$0.61	$0.95	$1.71	$2.12	$0.70	$1.10	$1.76	$2.26	$0.78	$1.21	$1.79
Operating cash flow	155	105	110	146	202	136	124	177	163	138	75.8	103
Capital expenditure	153	184	260	346	218	185	201	333	291	354	372	437
Free cash flow	2.2	-78.9	-150	-200	-16.1	-48.9	-77.0	-156	-128	-216	-296	-333
Dividends paid	40.0	43.0	42.7	42.1	44.3	47.4	46.9	46.5	46.5	48.5	49.2	48.8
Shares outstanding	51m	51m	51m	53m	53m	54m	54m	54m	54m	55m	n/a	n/a
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 30 June 2024, filed 1 August 2024, accession 0001057877-24-000041: the filing on EDGAR. All of Idacorp Inc.'s filings: EDGAR company page.

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