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IDACORP (IDA) to Report Q2 Earnings: What's in the Cards?

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IDACORP, Inc. (IDA - Free Report) is scheduled to release second-quarter 2024 results on Aug 1. The company has an average trailing four-quarter earnings surprise of 6.81%.
 
Let’s discuss the factors that are likely to have affected the upcoming quarterly results.

Factors to Consider

IDA’s earnings are likely to have benefited from economic expansion in its service territories, which is expected to have created fresh demand for its services.

The ongoing customer growth at the Idaho Power service area is likely to have benefited the company’s operating income and earnings. The weather is likely to have had a moderate impact on second-quarter earnings. However, high operating and maintenance expenses and notable charges for wildfire-related claims, net of insurance recoveries, are expected to have hurt the overall earnings performance.

Expectations

The Zacks Consensus Estimate for IDA’s second-quarter sales is $420.56 million, which indicates an increase of 1.6% from the year-ago reported number.

The consensus estimate for earnings is pegged at $1.37 per share, which indicates an increase of 1.5% from the prior quarter’s comparable figure.

What Our Model Predicts

Our proven model does not conclusively predict an earnings beat for IDACORP this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the odds of an earnings beat, which is not the case here, as seen below.

IDACORP, Inc. Price and EPS Surprise

IDACORP, Inc. Price and EPS Surprise

IDACORP, Inc. price-eps-surprise | IDACORP, Inc. Quote

Earnings ESP: The company’s Earnings ESP is 0.00%. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.

Zacks Rank: The company currently carries a Zacks Rank of 3.

Stocks to Consider

Investors can consider the following players from the same industry, which have the right combination of elements to post an earnings beat in their quarterly results.
 
Entergy Corporation (ETR - Free Report) is likely to report an earnings beat when it announces second-quarter results on Aug 1. It has an Earnings ESP of +2.42% and a Zacks Rank of 3, at present. You can see the complete list of today's Zacks Rank #1 stocks here.

The Zacks Consensus Estimate for its second-quarter sales is pegged at $2.94 billion, which indicates a 3.2% improvement from the year-ago quarter’s figure. The long-term (three-to-five years) earnings growth rate is 7.3%.

Xcel Energy Inc. (XEL - Free Report) is likely to report an earnings beat when it announces second-quarter results on Aug 1. It has an Earnings ESP of +3.48% and a Zacks Rank of 2, at present.

The Zacks Consensus Estimate for its second-quarter sales is pegged at $3.23 billion, which indicates a 6.8% improvement from the year-ago quarter’s figure. The long-term earnings growth rate is 6.4%.

The Southern Company (SO - Free Report) is likely to report an earnings beat when it announces second-quarter results on Aug 1. It has an Earnings ESP of +0.38% and a Zacks Rank of 3, at present.

The Zacks Consensus Estimate for its second-quarter sales is pegged at $6.26 billion, which indicates an 8.9% improvement from the year-ago quarter’s figure. The consensus estimate for earnings indicates year-over-year growth of 15.2%.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

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