IDACORP, Inc. IDA reported fourth-quarter 2017 operating earnings of 77 cents per share, beating the Zacks Consensus Estimate of 67 cents by 14.9%. Quarterly earnings increased 16.7% from 66 cents in the year-ago quarter.
The improvement was driven by strong economic activity, higher operating income and continued customer growth.
IDACORP's net income totaled $38.9 million in the quarter, compared with $33.21 million in the year-ago quarter.
The North Valmy power plant settlement condition drove business revenues in the fourth quarter.
Idaho Power gained from increased transmission wheeling volumes and Open Access Transmission Tariff.
IDACORP, Inc. Price, Consensus and EPS Surprise
IDACORP, Inc. Price, Consensus and EPS Surprise | IDACORP, Inc. Quote
Guidance
IDACORP issued earnings guidance for 2018 in the range of $4.10-$4.25 per share.
Peer Releases
NextEra Energy NEE reported fourth-quarter 2017 adjusted earnings of $1.25 per share, missing the Zacks Consensus Estimate of $1.31 by 4.6%.
Dominion Energy D reported fourth-quarter 2017 operating earnings of 91 cents per share, beating the Zacks Consensus Estimate of 88 cents by 3.4%.
Exelon EXC reported fourth-quarter 2017 operating earnings of 55 cents per share, missing the Zacks Consensus Estimate of 62 cents by 11.3%.
Zacks Rank
IDACORP 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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