IDACORP Third Quarter 2024 Earnings: Misses Expectations

IDACORP (NYSE:IDA) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$528.5m (up 3.4% from 3Q 2023).
• Net income: US$113.6m (up 7.9% from 3Q 2023).
• Profit margin: 22% (in line with 3Q 2023).
• EPS: US$2.13 (up from US$2.08 in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

IDACORP Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 16%. Earnings per share (EPS) also missed analyst estimates by 3.5%.

Looking ahead, revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 4.7% 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

You still need to take note of risks, for example - IDACORP has 3 warning signs (and 1 which is concerning) we think you should know about.

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