IDACORP (IDA) Tops Q3 EPS by 27c; Boosts FY18 EPS Outlook Above Consensus

IDACORP (NYSE: IDA) reported Q3 EPS of $2.02, $0.27 better than the analyst estimate of $1.75.

"Improved third quarter performance at Idaho Power Company, IDACORP's principal subsidiary, was driven by continued growth in customers, increased irrigation sales due to lower than normal precipitation, and the impacts of tax reform," said Darrel Anderson, IDACORP's President and Chief Executive Officer. "New customers continue to move to our service area, which helped drive 2.2 percent customer growth over the last twelve months.

"Based on strong results through the third quarter, IDACORP is increasing its full-year 2018 earnings guidance to the range of $4.40 to $4.50 per diluted share. With the improved earnings outlook, Idaho Power is now expected to share $2 million of revenues for 2018 with Idaho customers through the sharing mechanism according to the Idaho regulatory stipulation."

GUIDANCE:

IDACORP sees FY2018 EPS of $4.40-$4.50, versus the consensus of $4.28.

For earnings history and earnings-related data on IDACORP (IDA) click here.

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