IDACORP, Inc. (NYSE:IDA) came out with its yearly results last week, and we wanted to see how the business is performing and what industry forecasters think of the company following this report. It was a workmanlike result, with revenues of US$1.8b coming in 4.8% ahead of expectations, and statutory earnings per share of US$5.14, in line with analyst appraisals. This is an important time for investors, as they can track a company's performance in its report, look at what experts are forecasting for next year, and see if there has been any change to expectations for the business. We've gathered the most recent statutory forecasts to see whether the analysts have changed their earnings models, following these results.

Check out our latest analysis for IDACORP

Following last week's earnings report, IDACORP's five analysts are forecasting 2024 revenues to be US$1.77b, approximately in line with the last 12 months. Statutory earnings per share are predicted to accumulate 5.7% to US$5.45. Before this earnings report, the analysts had been forecasting revenues of US$1.78b and earnings per share (EPS) of US$5.45 in 2024. The consensus analysts don't seem to have seen anything in these results that would have changed their view on the business, given there's been no major change to their estimates.

The analysts reconfirmed their price target of US$102, showing that the business is executing well and in line with expectations. Fixating on a single price target can be unwise though, since the consensus target is effectively the average of analyst price targets. As a result, some investors like to look at the range of estimates to see if there are any diverging opinions on the company's valuation. Currently, the most bullish analyst values IDACORP at US$120 per share, while the most bearish prices it at US$93.00. Even so, with a relatively close grouping of estimates, it looks like the analysts are quite confident in their valuations, suggesting IDACORP is an easy business to forecast or the the analysts are all using similar assumptions.

Of course, another way to look at these forecasts is to place them into context against the industry itself. It's pretty clear that there is an expectation that IDACORP's revenue growth will slow down substantially, with revenues to the end of 2024 expected to display 0.3% growth on an annualised basis. This is compared to a historical growth rate of 6.2% over the past five years. By way of comparison, the other companies in this industry with analyst coverage are forecast to grow their revenue at 3.5% per year. So it's pretty clear that, while revenue growth is expected to slow down, the wider industry is also expected to grow faster than IDACORP.