Slide 1: Earnings Conference Call 3rd Quarter 2021
Earnings Conference Call 3rd Quarter 2021 October 28, 2021
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 Three Months Nine Months Ended September 30 Ended September 30 2021 2020 2021 2020 Net income $ 97,897 $ 102,031 $ 212,752 $ 199,910 Average shares outstanding – diluted (000’s) 50,681 50,576 50,621 50,554 Earnings per diluted share $ 1.93 $ 2.02 $ 4.20 $ 3.95 4
Slide 5: Increasing Customer Growth Rate
Increasing Customer Growth Rate 600,000 Idaho Power Customer Growth 2.9% 590,000 580,000 570,000 560,000 550,000 540,000 Twelve Months 2017 2018 2019 2020 Ended Sept. 30, 2021 Moody’s GDP Growth Projections Idaho Power’s Service Area: 2021: 6.1% 2022: 4.2% 5
Slide 6: Capital Expenditures Forecast
Capital Expenditures Forecast(1) 2021 – 2025 ($ Millions) $500 $450 $400 $350 $300 $250 $200 $150 $100 $50 $0 2021 2022 2023 2024 2025 Distribution ($100-$120M) Hydro ($65-$110M) Transmission ($50-$75M) General Plant ($60-$95M) Thermal ($15-$40M) High Voltage Transmission ($5-$95) Potential Addition
Slide 7: Weather Outlook
Weather Outlook November 2021 Through January 2022 Precipitation Temperature 7 Source: NOAA, National Oceanic Atmospheric Administration, U.S. Dept. of Commerce, October 21, 2021
Slide 8: Q3 2020 to Q3 2021
Q3 2020 to Q3 2021 IDACORP, Inc. Net Income (in millions and before related income tax impact unless otherwise noted) Net Income – For the Quarter Ended September 30, 2020 $ 102.0 Increase (decrease) in Idaho Power net income: Customer growth, net of associated power supply costs and power cost adju
Slide 9: Operating Cash Flows
Operating Cash Flows (millions) Nine Months Ended September 30 IDACORP 2021 2020 Net Cash Provided by Operating Activities $ 303.4 $ 284.0 Liquidity As of September 30, 2021 (millions) IDACORP(1) Idaho Power Revolving Credit Facility – Expires December 2024 $ 100.0 $ 300.0 Commercial Paper Outstandi
Slide 10: 2021 Earnings Per Share Guidance & Estimated Key Operating Metrics
2021 Earnings Per Share Guidance & Estimated Key Operating Metrics (Millions Except for Per Share Amounts) Current(1) Previous(2) IDACORP Earnings Per Diluted Share Guidance $ 4.80 – $ 4.90 $ 4.70 – $ 4.80 Idaho Power Additional Amortization of Accumulated No change None Deferred Investment Tax Cred
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