IDACORP, Inc. IDA delivered fourth-quarter 2018 operating earnings of 52 cents per share, which beat the Zacks Consensus Estimate of 48 cents by 8.3%. However, the figure fell 32.5% from 77 cents in the year-ago quarter.
In 2018, the company generated earnings of $4.49 per share compared with $4.21 in2017.
The full year figure improved owing to consistent strong customer growth in Idaho Power’s service area along with constructive regulatory outcomes and a return to more normal irrigation sales.
Net income fell $12.8 million to $26.1 million in the fourth quarter of 2018, primarily due to lower net income at Idaho Power.
IDACORP, Inc. Price, Consensus and EPS Surprise
IDACORP, Inc. Price, Consensus and EPS Surprise | IDACORP, Inc. Quote
Management guided 2019 EPS in the range of $4.30-$4.45, whose mid-point of $4.37 is lower than the current Zacks Consensus Estimate of $4.42.
The company expects operating and maintenance expenses related to Idaho Power for 2019 in the range of $350-$360 million.
Currently, IDACORP has a Zacks Rank #2 (Buy).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Utility Releases
NextEra Energy, Inc NEE delivered fourth-quarter 2018 adjusted earnings of $1.49 per share, which lagged the Zacks Consensus Estimate of $1.51 by 1.3%.
American Electric Power Co., Inc AEP generated fourth-quarter 2018 operating EPS of 72 cents, in line with the Zacks Consensus Estimate.
Xcel Energy Inc XEL posted fourth-quarter 2018 operating earnings of 42 cents per share, in line with the Zacks Consensus Estimate.
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