Slide 1: Earnings Conference Call 1st Quarter 2022
Earnings Conference Call 1st Quarter 2022 May 5, 2022
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 Brian Buckham IDACORP President IDACORP Senior Vice President & Chief Executive Officer & Chief Financial Officer 3
Slide 4: Earnings Performance
Earnings Performance Three Months Ended March 31 2022 2021 Net income $ 46,260 $ 44,831 Weighted average common shares outstanding – diluted (000’s) 50,660 50,580 Earnings per diluted share $ 0.91 $ 0.89 4
Slide 5: Growth & Economic Expansion
Growth & Economic Expansion Idaho Power Customer Growth 610,000 2.6% 600,000 590,000 580,000 570,000 560,000 Residential growth 550,000 near Meridian, Idaho 540,000 Twelve Months 2018 2019 2020 2021 Ended March 31, 2022 Moody’s GDP Growth Projections for Idaho Power’s Service Area: 2022: 2.4% 2023:
Slide 6: Regulatory and Large Project Updates
Regulatory and Large Project Updates Jim Bridger Status Update* Battery Storage Resource Update *Idaho Power’s planned conversion, shut down and timing of Jim Bridger units is subject to a number of assumptions and uncertainties described in the 2021 Integrated Resource Plan (IRP), including evaluat
Slide 7: Weather Outlook
Weather Outlook June Through August 2022 Precipitation Temperature 7 Source: NOAA, National Oceanic Atmospheric Administration, U.S. Dept. of Commerce, April 21, 2022
Slide 8: Q1 2021 to Q1 2022 Net Income Bridge
Q1 2021 to Q1 2022 IDACORP, Inc. Net Income (in millions and before related income tax impact unless otherwise noted) Net Income – For the Quarter Ended March 31, 2021 $ 44.8 Increase (decrease) in Idaho Power net income: Customer growth, net of associated power supply costs and power cost adjustmen
Slide 9: Operating Cash Flows, Liquidity, & Capital Structure
Operating Cash Flows, Liquidity, & Capital Structure Three Months Cash Flows (millions) Ended March 31 Capital Structure as of IDACORP 2022 2021 March 31, 2022 Net Cash Provided by Operating Activities $ 93.0 $ 83.7 IDACORP Idaho Power Liquidity As of March 31, 2022 Debt 43% 45% (millions) IDACORP(1
Slide 10: 2022 Earnings Per Share Guidance & Estimated Key Operating Metrics
2022 Earnings Per Share Guidance & Estimated Key Operating Metrics (Millions Except for Per Share Amounts) Current(1) Previous(2) IDACORP Earnings Per Diluted Share Guidance No change $ 4.85 – $ 5.05 Idaho Power Additional Amortization of Accumulated No change None Deferred Investment Tax Credits Id
Slide 11: Contact Information
Contact Information Investors & Analysts Justin S. Forsberg Director of Investor Relations & Treasury (208) 388-2728 JForsberg@idacorpinc.com Media Jordan Rodriguez Corporate Communications (208) 388-2460 JRodriguez@idahopower.com 11 Webcast and presentation on WWW.IDACORPINC.COM