It has been about a month since the last earnings report for IdaCorp (IDA). Shares have added about 0.9% in that time frame, underperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is IdaCorp due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.
IDACORP Beats Q4 Earnings Estimates, Adds Customers
IDACORP, Inc. 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 in 2017.
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.
Guidance
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.
How Have Estimates Been Moving Since Then?
Analysts were quiet during the last two month period as none of them issued any earnings estimate revisions.
IDACORP, Inc. (IDA): Free Stock Analysis Report
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