IDACORP, Inc. (IDA - Free Report) reported third-quarter 2019 earnings of $1.78 per share, which declined 11.88% from the year-ago quarter’s figure of $2.02.
The year-over-year decline in earnings was caused by mild and rainy weather, which led to lower irrigation sales and reduced transmission revenues on a year-over-year basis.
Highlights of the Release
Operating income increased $5.5 million from the year-ago quarter’s level. The upside can be attributed to 2.6% rise in Idaho Power customers.
Net income in the quarter under review was $89.9 million, reflecting a 12% decline from $102.2 million recorded in the year-ago period.
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IDACORP, Inc. (IDA - Free Report) reported third-quarter 2019 earnings of $1.78 per share, which declined 11.88% from the year-ago quarter’s figure of $2.02.
The year-over-year decline in earnings was caused by mild and rainy weather, which led to lower irrigation sales and reduced transmission revenues on a year-over-year basis.
Highlights of the Release
Operating income increased $5.5 million from the year-ago quarter’s level. The upside can be attributed to 2.6% rise in Idaho Power customers.
Net income in the quarter under review was $89.9 million, reflecting a 12% decline from $102.2 million recorded in the year-ago period.
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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