RTTNews | Jul 29, 2021 08:36AM EDT

08:36 Thursday, July 29, 2021 (RTTNews.com) - While reporting financial results for the second quarter on Thursday, electric utility IDACORP, Inc. (IDA) raised its adjusted earnings guidance for the full year 2021.

For fiscal 2021, the company now project earnings in a range of $4.70 to $4.90 per share, up from the prior guidance range of $4.60 to $4.80 per share. On average, four analysts polled by Thomson Reuters expect the company to report earnings of $4.82 per share for the year. Analysts' estimates typically exclude special items.

This guidance 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.

It is also 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.

"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," said IDACORP President and CEO Lisa Grow.

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