Stock Analysis
- United States
- /
- Electric Utilities
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- NYSE:IDA
IDACORP First Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags
IDACORP (NYSE:IDA) First Quarter 2024 Results
Key Financial Results
- Revenue: US$448.9m (up 4.5% from 1Q 2023).
- Net income: US$48.2m (down 14% from 1Q 2023).
- Profit margin: 11% (down from 13% in 1Q 2023). The decrease in margin was driven by higher expenses.
- EPS: US$0.95 (down from US$1.11 in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
IDACORP Revenues Beat Expectations, EPS Falls Short
Revenue exceeded analyst estimates by 14%. Earnings per share (EPS) missed analyst estimates by 16%.
Looking ahead, revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Electric Utilities industry in the US.
Performance of the American Electric Utilities industry.
The company's share price is broadly unchanged from a week ago.
Risk Analysis
Before we wrap up, we've discovered 2 warning signs for IDACORP (1 can't be ignored!) that you should be aware of.
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About NYSE:IDA
IDACORP
Engages in the generation, transmission, distribution, purchase, and sale of electric energy in the United States.
Average dividend payer with questionable track record.