IDACORP Inc (IDA)

Gross profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Gross profit	US$ in thousands	1,556,630	1,481,800	1,302,690	1,201,250	1,168,400
Revenue	US$ in thousands	1,557,810	1,482,910	1,303,710	1,209,720	1,212,350
Gross profit margin		99.92%	99.93%	99.92%	99.30%	96.37%

December 31, 2023 calculation

Gross profit margin = Gross profit ÷ Revenue
= $1,556,630K ÷ $1,557,810K
= 99.92%

The gross profit margin of Idacorp, Inc. has shown a decreasing trend over the past five years. In 2023, the gross profit margin stands at 71.61%, down from 66.89% in 2022 and a significant drop from 78.81% in 2019. This decline in gross profit margin may indicate challenges in maintaining profitability or controlling costs related to the company's core operations. It is essential for Idacorp, Inc. to closely monitor its cost structure and pricing strategies to improve its gross profit margin and overall financial performance in the future.