IDACORP Inc. (IDA - Free Report) is scheduled to release fourth-quarter 2021 earnings on Feb 17 before market open. IDACORP delivered a negative earnings surprise of 3.50% in the last reported quarter.
Let’s see how things have shaped up before the upcoming earnings announcement.
Factors to Consider
IDACORP expects to see an increase in the commercial and industrial customer base due to its ability to provide affordable electricity in the Idaho Power service area, which is likely to have boosted revenues in the fourth quarter.
Effective cost management, an improvement in economic conditions and a drop in the unemployment rate in its service territories are likely to have generated fresh demand for IDA and provided ample support to drive the performance in the fourth quarter.
Expectation
The Zacks Consensus Estimate for fourth-quarter earnings is pegged at 67 cents per share, indicating a decline of 9.46% from the year-ago reported figure. Considering the full-year guidance provided by IDACORP, fourth-quarter earnings per share (EPS) are expected in the range of 60-70 cents.
What the Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for IDACORP this time. 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. However, that is not the case here as you will see below.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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IDACORP Inc. (IDA - Free Report) is scheduled to release fourth-quarter 2021 earnings on Feb 17 before market open. IDACORP delivered a negative earnings surprise of 3.50% in the last reported quarter.
Let’s see how things have shaped up before the upcoming earnings announcement.
Factors to Consider
IDACORP expects to see an increase in the commercial and industrial customer base due to its ability to provide affordable electricity in the Idaho Power service area, which is likely to have boosted revenues in the fourth quarter.
Effective cost management, an improvement in economic conditions and a drop in the unemployment rate in its service territories are likely to have generated fresh demand for IDA and provided ample support to drive the performance in the fourth quarter.
Expectation
The Zacks Consensus Estimate for fourth-quarter earnings is pegged at 67 cents per share, indicating a decline of 9.46% from the year-ago reported figure. Considering the full-year guidance provided by IDACORP, fourth-quarter earnings per share (EPS) are expected in the range of 60-70 cents.
What the Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for IDACORP this time. 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. However, that is not the case here as you will see below.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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