IDACORP (IDA) Tops Q1 EPS by 1c

IDACORP (NYSE: IDA) reported Q1 EPS of $0.51, $0.01 better than the analyst estimate of $0.50.

"First quarter results improved over the first quarter of 2015, benefiting from continued growth in our service area, and slightly cooler temperatures than last year," said IDACORP President and CEO Darrel Anderson. "We have already achieved some of our key goals for 2016, including a successful debt issuance in the first quarter and an early redemption of bonds in the second quarter.

"Economic activity remains strong in Idaho Power's service area, with new customers coming online and others expanding existing facilities. Unemployment levels also remain well below the national average.

"For the full year, we continue to project Idaho Power's use of additional accumulated deferred investment tax credits under the Idaho regulatory settlement to be less than $5 million," added Anderson. IDACORP is maintaining its full year 2016 earnings per share guidance in the range of $3.80 to $3.95 per diluted share.

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

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