IDACORP Q1 Earnings Beat Estimates on Rate Changes & Customer Growth

IDACORP, Inc. IDA reported first-quarter 2025 earnings of $1.10 per share, which surpassed the Zacks Consensus Estimate of $1.03 by 6.8%. (See the Zacks Earnings Calendar to stay ahead of market-making news.)The company’s earnings improved 15.8% from 95 cents per share in the year-ago quarter. The year-over-year improvement was due to strong customer growth and rate changes.IDA’s Total RevenuesTotal revenues for first-quarter 2025 were $432.4 million, down 5.6% from the Zacks Consensus Estimate of $458 million. The metric was down 3.8% from $449 million in the year-ago quarter.IDACORP, Inc. Price, Consensus and EPS Surprise IDACORP, Inc. price-consensus-eps-surprise-chart | IDACORP, Inc. QuoteHighlights of IDA’s Q1 ReleaseCustomer growth rate in the company’s service areas increased 2.6% year over year for the 12 months ended on March 31, 2025. This, in turn, boosted operating income by $7.3 million compared with the year-ago level.Total operating expenses were $377.5 million, down 5.5% from the year-ago quarter. The decline in operating expenses was due to lower purchased power and fuel expenses.IDACORP's net income was $59.6 million, up 23.4% from the prior-year level.IDA’s Financial HighlightsAs of March 31, 2025, cash and cash equivalents were $634.5 million compared with $368.9 million as of Dec. 31, 2024.Long-term debt was $3.44 billion as of March 31, 2025, compared with $3.05 billion as of Dec. 31, 2024.In first-quarter 2025, net cash provided by operating activities was $124.3 million compared with $109.7 million in the prior year.IDA’s GuidanceIDACORP reiterated its full-year 2025 earnings guidance of $5.65-$5.85 per share. The Zacks Consensus Estimate is currently pegged at $5.81 per share.It anticipates 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 7-8.5 MWh in 2025.IDA’s Zacks RankIDACORP currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Other ReleasesDTE Energy Company DTE reported first-quarter 2025 operating earnings per share of $2.10, which beat the Zacks Consensus Estimate of $1.46 by 3.4%.DTE’s long-term (three to five years) earnings growth rate is 7.64%. The Zacks Consensus Estimate for 2025 earnings is pinned at $7.24, implying a year-over-year increase of 6%.Exelon Corporation’s EXC first-quarter 2025 earnings of 92 cents per share surpassed the Zacks Consensus Estimate of 85 cents by 8.3%.EXC’s long-term earnings growth rate is 6.643%. The Zacks Consensus Estimate for 2025 earnings is pinned at $7.24, implying a year-over-year increase of 6%.Edison International EIX reported first-quarter 2025 adjusted earnings of $1.37 per share, which surpassed the Zacks Consensus Estimate of $1.21 by 13.2%.EIX’s long-term earnings growth rate is 6.97%. It delivered an average earnings surprise of 8.82% in the last four quarters. 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 Edison International (EIX): Free Stock Analysis Report DTE Energy Company (DTE): Free Stock Analysis Report IDACORP, Inc. (IDA): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks