IDACORP Q4 Profit Down, But Beats Estimates; Sees FY24 Earnings Below Market

(RTTNews) - IDACORP, Inc. (IDA) reported Thursday its fourth-quarter net income attributable to the company of $31.26 million or $0.61 per share, compared with $42.05 million or $0.83 per share last year.

Analysts on average expected the company to report earnings of $0.60 per share for the quarter, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

For the full year 2023, IDACORP reported net income attributable of $261.20 million or $5.14 per share, up from $258.98 million or $5.11 per share in 2022. The Street was looking for earnings of $5.13 per share.

For fiscal 2024, the company projects earnings in the range of $5.25 to $5.45 per share, while analysts project earnings of $5.46 per share.

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