Slide 1: Earnings Conference Call
Earnings Conference Call 3rd Quarter 2019 October 31, 2019
Slide 2: Forward-Looking Statements
Forward-Looking Statements In addition to the historical information contained in this presentation, this presentation contains (and oral communications made by IDACORP, Inc. and Idaho Power Company may contain) statements, including, without limitation, earnings guidance and estimated key operating
Slide 3: Leadership Presenting Today
Leadership Presenting Today Darrel Anderson Lisa Grow Steve Keen IDACORP President Idaho Power Company President IDACORP Senior Vice President, & Chief Executive Officer Chief Financial Officer, & Treasurer 3
Slide 4: Earnings Performance
Earnings Performance IDACORP, Inc. Net Income and Earnings Per Diluted Share (Thousands Except for Per Share Amounts) Three Months Nine Months Ended September 30 Ended September 30 2019 2018 2019 2018 Net Income $ 89,876 $ 102,231 $ 185,718 $ 200,661 Average shares outstanding– diluted 50,558 50,565
Slide 5: Q3 2018 to Q3 2019
Q3 2018 to Q3 2019 IDACORP, Inc. Net Income (millions) Net Income – For the Quarter Ended September 30, 2018 $ 102.2 Increase (decrease) in Idaho Power net income: Customer growth, net of associated power supply costs and power cost adjustment mechanisms $ 5.5 Usage per retail customer, net of assoc
Slide 6: Operating Cash Flows
Operating Cash Flows (millions) Nine Months Ended September 30 IDACORP 2019 2018 Net Cash Provided by Operating Activities $ 287.0 $ 365.9 Liquidity As of September 30, 2019 (millions) IDACORP(1) Idaho Power Revolving Credit Facility – Expires November 2022 $ 100.0 $ 300.0 Commercial Paper Outstandi
Slide 7: 2019 Earnings Per Share Guidance & Estimated Key Financial & Operating Metrics
2019 Earnings Per Share Guidance & Estimated Key Financial & Operating Metrics (Millions Except for Per Share Amounts) 2019 Estimates Current(1) Previous(2) IDACORP Earnings Per Diluted Share Guidance $ 4.40 – $ 4.50 $ 4.35 – $ 4.50 Idaho Power Additional Amortization of Accumulated No Change None D
Slide 8: Leadership Changes
Leadership Changes Lisa Grow President 2 a Anderson CeO A y} Adam Richins Senior VP, & COO Jeff Malmen Senior VP, Public Affairs Steve Keen Senior VP, CFO & Treasurer Brian Buckham. Senior VP & General Council Ryan ) Vern Debra Ken Pat Sarah Adelman “42 Porter Leithauser Petersen Harrington Griffin
Slide 9: Growth & Economic Expansion
Growth & Economic Expansion 570,000 Idaho Power Customer Growth 2.6% 560,000 550,000 540,000 530,000 520,000 510,000 Twelve Months 2015 2016 2017 2018 Ended Sept. 30, 2019 Cedar Ridge Dairy Products 9
Slide 10: A Foundation of Clean Energy
Current Coal-fired Plant Shutdown Plan* A Foundation of Clean Energy *Idaho Power’s planned shut down and timing of Jim Bridger units is subject to a number of assumptions and uncertainties described in the 2019 Integrated Resource Plan and is subject to regulatory approval and change, including pen
Slide 11: Record Customer Satisfaction
Record Customer Satisfaction 11
Slide 12: Common Stock Dividend Growth
Common Stock Dividend Growth “IDACORP’s Board of Directors has approved an annual dividend increase every year since 2012, resulting in a cumulative average growth rate of over 9%. These changes represent an overall increase of 123 percent in IDACORP’s quarterly dividend over that period. Our custom
Slide 13: Weather Outlook
Weather Outlook November 2019 Through January 2020 13 Source: NOAA, National Oceanic Atmospheric Administration, U.S. Dept. of Commerce, October 17, 2019
Slide 14: Contact Information
Contact Information Investors & Analysts Media Justin S. Forsberg Jordan Rodriguez Director of Investor Relations & Treasury Corporate Communications (208) 388-2728 (208) 388-2460 JForsberg@idacorpinc.com JRodriguez@idahopower.com Webcast and presentation on WWW.IDACORPINC.COM