Slide 1: Earnings Conference Call 4th Quarter & Year End 2018
Earnings Conference Call 4th Quarter & Year End 2018 February 21, 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 Steve Keen IDACORP President IDACORP Senior Vice President, 3 & Chief Executive Officer Chief Financial Officer, & Treasurer
Slide 4: Earnings Performance
Earnings Performance IDACORP, Inc. Net Income and Earnings Per Diluted Share (Thousands Except for Per Share Amounts) Three Months Year Ended Ended December 31 December 31 2018 2017 2018 2017 Net Income $ 26,140 $ 38,852 $ 226,801 $ 212,419 Average shares outstanding– diluted 50,527 50,361 50,510 50
Slide 5: Eleventh Straight Year of Earnings Growth
Eleventh Straight Year of Earnings Growth $4.50 $4.49 $4.21 $4.00 $3.94 $3.85 $3.87 $3.50 $3.64 $3.43 $3.46 $3.00 $3.00 $2.68 $2.50 $2.17 $2.00 $1.86 $1.50 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 (1)2010-2012 data adjusted for effect of a change in accounting method for IDACORP F
Slide 6: IDACORP, Inc. Net Income (millions)
2017 to 2018 IDACORP, Inc. Net Income (millions) Net Income – For the Year Ended December 31, 2017 $ 212.4 Increase (decrease) in Idaho Power net income: Customer growth, net of associated power supply costs and power cost adjustment mechanisms $ 10.3 Usage per retail customer, net of associated pow
Slide 7: Operating Cash Flows and Liquidity
Operating Cash Flows (millions) Year Ended December 31 IDACORP 2018 2017 Net Cash Provided by Operating Activities $ 491.6 $ 435.2 Liquidity As of December 31, 2018 (millions) IDACORP(1) Idaho Power Revolving Credit Facility – Expires November 2022 $ 100.0 $ 300.0 Commercial Paper Outstanding – – Id
Slide 8: 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(1) 2018 Actual IDACORP Earnings Per Diluted Share Guidance(2) $ 4.30 – $ 4.45 $ 4.49 Idaho Power Operations & Maintenance Expense $ 350 – $ 360 $ 365 Idaho Power Addi
Slide 9: Growth & Economic Expansion
Growth & Economic Expansion Idaho Power Customer Growth 2.3% 555,000 545,000 535,000 525,000 515,000 505,000 2014 2015 2016 2017 2018 No. 1 Fastest Growing State (Idaho) — U.S. Census Bureau, published December 2018 No. 3 Highest Percentage of Inbound Moves (Idaho) - United Van Lines, January 2019 N
Slide 10: Hells Canyon Relicensing
Hells Canyon Relicensing Application for Renewal of Federal License • Three-dam complex on the Snake River, along Idaho and Oregon border • Original license expired in 2005 • Annual license renewal since original expiration • Settlement order received 2018 approving prudency of $216.5 million of cos
Slide 11: Weather Outlook
Weather Outlook March Through May 2019 11 Source: NOAA, National Oceanic Atmospheric Administration, U.S. Dept. of Commerce, February 21, 2019
Slide 12: Contact Information
Contact Information Investors & Analysts Media Justin S. Forsberg Jordan Rodriguez Director of Investor Relations Corporate Communications (208) 388-2728 (208) 388-2460 JForsberg@idacorpinc.com JRodriguez@idahopower.com Webcast and presentation on WWW.IDACORPINC.COM