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IDACORP books higher Q4, FY'17 earnings, initiates 2018 guidance

IDACORP Inc. initiated full-year earnings guidance range of $4.10 per share to $4.25 per share for 2018, after posting higher fourth-quarter and full-year 2017 results.

IDACORP on Feb. 22 reported fourth-quarter 2017 net income attributable to the company of $38.9 million, or 77 cents per share, up from $33.2 million, or 66 cents per share, in the same period of 2016.

The company's principal operating subsidiary, Idaho Power Co., contributed $37.2 million toward fourth-quarter net income, compared with $28.9 million a year earlier.

On a full-year basis, IDACORP posted net income attributable to the company of $212.4 million, or $4.21 per share, in 2017, compared with $198.3 million, or $3.94 per share, in 2016. The company attributed the increase to higher net income at Idaho Power.

"Strong economic activity in our region, productive regulatory outcomes, and continued prudent oversight of our operating expenses helped lift our operating income," IDACORP President and CEO Darrel Anderson said.

Looking forward, the company expects operating and maintenance expense in the range of $345 million to $355 million and capital expenditures in the range between $280 million to $290 million for Idaho Power in 2018.