IDACORP's Fourth-Quarter Earnings Surpass Estimates, Revenues Rise Y/Y

IDACORP, Inc. IDA reported fourth-quarter 2024 earnings of 70 cents per share, which surpassed the Zacks Consensus Estimate of 63 cents by 11.1%. The company reported earnings of 61 cents per share in the year-ago quarter.Full-year 2024 earnings were $5.50 per share compared with $5.14 last year. IDA’s earnings in 2024 benefited from continued strong customer growth, rate changes, spring and summer weather conditions that contributed to higher customer usage, and the use of tax credits under the company’s Idaho regulatory mechanism.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.IDA’s Total RevenuesTotal revenues for 2024 were $1.82 billion, up 3.4% from last year’s registered figure of $1.76 billion.  IDACORP, Inc. Price, Consensus and EPS Surprise IDACORP, Inc. price-consensus-eps-surprise-chart | IDACORP, Inc. QuoteHighlights of IDA’s Q4 ReleaseCustomer growth in the company’s service areas increased 2.6% year over year for the 12 months ended on Dec. 31, 2024. This, in turn, boosted operating income by $1.9 million compared to the year-ago level.Total other O&M expenses were $13.2 million, higher than the year-earlier level. This was mainly driven by approximately $4.7 million of increased pension-related expenses and an approximate $7.5 million rise in wildfire mitigation program and related insurance expenses.IDACORP's net income increased $6.6 million from the prior-year level, primarily due to higher net income at Idaho Power.The company added 7.2 MWh of hydropower to its generation portfolio in 2024.IDA’s Financial HighlightsAs of Dec. 31, 2024, cash and cash equivalents were $368.9 million compared with $327.4 million as of Dec. 31, 2023.As of Dec. 31, 2024, long-term debt was $3.05 billion compared with $2.78 billion as of Dec. 31, 2023.In 2024, net cash provided by operating activities was $594.4 million compared with $267 million last year.IDA’s GuidanceIDACORP initiated its full-year 2025 earnings guidance of $5.65-$5.85 per share. The Zacks Consensus Estimate is currently pegged at $5.85 per share.It projects capital expenditures to be in the range of $1-$1.1 billion in 2025.The company expects O&M expenses to be in the range of $465-$475 million.Management expects to add hydropower in the range of 6.5-8.5 MWh in 2025.IDA’s Zacks RankCurrently, IDACORP has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Recent ReleasesEversource Energy ES reported fourth-quarter 2024 adjusted earnings of $1.01 per share, which surpassed the Zacks Consensus Estimate of 99 cents by 2%.ES’ long-term (three to five years) earnings growth rate is 5.49%. The Zacks Consensus Estimate for 2025 sales is pinned at $12.91 billion, implying a year-over-year increase of 8.5%.DTE Energy Company DTE reported fourth-quarter 2024 operating earnings per share of $1.51, which beat the Zacks Consensus Estimate of $1.46 by 3.4%.DTE’s long-term earnings growth rate is 7.57%. The Zacks Consensus Estimate for 2025 sales is pinned at $12.98 billion, implying a year-over-year increase of 4.2%.Exelon Corporation’s EXC fourth-quarter 2024 earnings of 64 cents per share surpassed the Zacks Consensus Estimate of 59 cents by 8.5%.EXC’s long-term earnings growth rate is 5.71%. The Zacks Consensus Estimate for 2025 sales is pinned at $23.8 billion, implying a year-over-year increase of 3.4%. 5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Exelon Corporation (EXC): Free Stock Analysis Report DTE Energy Company (DTE): Free Stock Analysis Report IDACORP, Inc. (IDA): Free Stock Analysis Report Eversource Energy (ES): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks