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What's in Store for IDACORP Inc. (IDA) in Q4 Earnings?

Regulated utility, IDACORP Inc . IDA is scheduled to report fourth-quarter 2016 earnings results on Feb 23, before market opens.

Last quarter, the company recorded a positive earnings surprise of 5.10%. The company surpassed the Zacks Consensus Estimate in two of the trailing four quarters, the average surprise being 2.64%.

Let's see how things are shaping up at the company prior to this announcement.

Factors to Consider

The company expects to gain from the improving economic conditions from its service territories. Additionally, Idaho unemployment rate was 3.7% in Dec 2016, lower than the national average of 4.7% in the same time period.

Temperatures were moderate in IDACORP's service territories during the last three months of 2016, which might lower demand for utility services.

Earnings Whispers

Our proven model does not conclusively show that IDACORP is likely to beat earnings this quarter. This is because a stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) for this to happen. This is not the case here, as you will see below.

IDACORP, Inc. Price and EPS Surprise

IDACORP, Inc. Price and EPS Surprise | IDACORP, Inc. Quote

Zacks ESP : IDACORP has an Earnings ESP of -4.92%. This is because the Most Accurate estimate is 58 cents while the Zacks Consensus Estimate is pegged higher at 61 cents. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter

Zacks Rank : IDACORP carries a Zacks Rank #3 which increases the predictive power of ESP. However, the company's 0.00% ESP makes surprise prediction difficult.

Meanwhile, we caution against stocks with a Zacks Rank #4 or 5 (Sell-rated stocks) going into the earnings announcement, especially when the company is seeing negative estimate revisions.

Stocks that Warrant a Look

Here are a few utilities which have the right combination of elements to post an earnings beat this quarter:

Spark Energy SPKE is slated to report earnings on Mar 9. It is has an Earnings ESP of +14.43% and sports a Zacks Rank #1. You can see the complete list of today's Zacks #1 Rank stocks here .

Pinnacle West Capital Corporation PNW has an Earnings ESP of +2.04% and a Zacks Rank #2. It is slated to report earnings on Feb 24.

The Southern Company SO is slated to report earnings on Feb 22. It is has an Earnings ESP of +6.45% and a Zacks Rank #3.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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