Idacorp Lifts 2019 Profit View

(RTTNews) - Idacorp Inc. (IDA) raised its 2019 earnings per share guidance to a range of $4.35 - $4.50 from the prior estimation of $4.30 - $4.45 per share. Analysts polled by Thomson Reuters expected the company to report earnings of $4.46 per share for 2019. Analysts' estimates typically exclude special items.

The company reported that its net income attributable to the company for the second-quarter declined to $53.2 million or $1.05 per share, from last year's $62.3 million, or $1.23 per share, primarily due to lower net income at Idaho Power.

Customer growth increased operating income by $4.2 million in the second quarter of 2019 compared with the second quarter of 2018, as the number of Idaho Power customers grew by 2.5 percent during the twelve months ended June 30, 2019.

Sales volumes on a per-customer basis decreased operating income by $13.4 million in the second quarter of 2019 compared with the second quarter of 2018.