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IDACORP (IDA) Beats Q3 Earnings Estimates, Raises Guidance

IDACORP, Inc. IDA reported third-quarter 2017 operating earnings of $1.80 per share, beating the Zacks Consensus Estimate of $1.66 by 8.4%. Quarterly earnings were up 9% from the year-ago figure of $1.65.

The company’s strong economic activity throughout the service area increased sales volumes for most customer classes. A warmer-than-normal summer led to increased sales to residential customers.

The company’s customer growth, higher sales volumes and declining operating and maintenance expenses contributed $7.5 million to net income.

Apple Inc. Price, Consensus and EPS Surprise

Total Revenues

IDACORP's net income totaled $90.6 million in the quarter, compared with $83.1 million in the year-ago quarter.

Guidance

IDACORP raised its 2017 earnings per share guidance to the range of $4.05-$4.15, from the previous band of $3.95-$4.05.

Peer Releases

NextEra Energy, Inc. NEE reported third-quarter 2017 adjusted earnings of $1.85 per share, beating the Zacks Consensus Estimate of $1.75 by 5.7%.

FirstEnergy Corporation FE reported third-quarter 2017 operating earnings of 97 cents per share, beating the Zacks Consensus Estimate of 86 cents by 12.8%.

Xcel Energy Inc. XEL recorded third-quarter 2017 operating earnings of 97 cents per share, beating the Zacks Consensus Estimate of 92 cents by 5.4%.

Zacks Rank

IDACORP currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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Xcel Energy Inc. (XEL): Free Stock Analysis Report
 
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IDACORP, Inc. (IDA): Free Stock Analysis Report
 
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