Slide 1: Earnings Conference Call, 2nd Quarter 2020
Earnings Conference Call 2 nd Q u a r t e r 2 0 2 0 July 30, 2020
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 Lisa Grow Steve Keen IDACORP President IDACORP Senior Vice President & Chief Executive Officer & Chief Financial Officer 3
Slide 4: Earnings Performance
Earnings Performance IDACORP, Inc. Net Income and Earnings Per Diluted Share (Thousands Except for Per Share Amounts) Three Months Six Months Ended June 30, 2020 Ended June 30, 2020 2020 2019 2020 2019 Net Income $ 60,389 $ 53,156 $ 97,879 $ 95,842 Average shares outstanding– diluted 50,567 50,507 5
Slide 5: Q2 2019 to Q2 2020
Q2 2019 to Q2 2020 IDACORP, Inc. Net Income (millions) Net Income – For the Quarter Ended June 30, 2019 $ 53.2 Increase (decrease) in Idaho Power net income: Customer growth, net of associated power supply costs and power cost adjustment mechanisms $ 3.4 Usage per retail customer, net of associated
Slide 6: Operating Cash Flows
Operating Cash Flows (millions) Six Months Ended June 30 IDACORP 2020 2019 Net Cash Provided by Operating Activities $ 128.6 $ 166.1 Liquidity As of June 30, 2020 (millions) IDACORP(1) Idaho Power Revolving Credit Facility – Expires December 2024 $ 100.0 $ 300.0 Commercial Paper Outstanding – – Iden
Slide 7: 2020 Earnings Per Share Guidance & Estimated Key Financial & Operating Metrics
2020 Earnings Per Share Guidance & Estimated Key Financial & Operating Metrics (Millions Except for Per Share Amounts) 2020 Estimates Current(1) Previous(2) IDACORP Earnings Per Diluted Share Guidance No Change $ 4.45 – $ 4.65 Idaho Power Additional Amortization of Accumulated No Change None Deferre
Slide 8: Idaho Power Retail Load: March – July 20, 2020
Idaho Power Retail Load: March 1 – July 20, 2020 Actual net retail load ~2% lower than forecast 3/25 – 7/20/2020 Forecast Pandemic-related service area impacts Actual began roughly March 25, 2020 Weather Adjusted 1 4 7 10 13 16 19 22 25 28 31 3 6 9 12 15 18 21 24 27 30 3 6 9 12 15 18 21 24 27 30 2 5
Slide 9: Growth & Economic Expansion
Growth & Economic Expansion 580,000 2.6% Idaho Power Customer Growth 570,000 560,000 550,000 540,000 530,000 Twelve Months 2016 2017 2018 2019 Ended June 30, 2020 Top 5 States in Percent Growth, 2018 to 2019 * 1 2 3 4 5 2.1% 1.7% 1.7% 1.7% 1.3% 9 Idaho Nevada Arizona Utah Texas *Source: U.S. Census
Slide 10: Weather Outlook
Weather Outlook August Through October 2020 10 Source: NOAA, National Oceanic Atmospheric Administration, U.S. Dept. of Commerce, July 16, 2020
Slide 11: 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