Slide 1: Earnings Conference Call 1st Quarter 2018
Earnings Conference Call 1st Quarter 2018 May 3, 2018
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 Ended March 31 2018 2017 Net Income $ 36,142 $ 33,102 Average shares outstanding– diluted 50,463 50,397 Earnings per diluted share $ 0.72 $ 0.66 4
Slide 5: First Quarter 2017 to 2018
First Quarter 2017 to 2018 IDACORP, Inc. Net Income (millions) Net Income – For the Quarter Ended March 31, 2017 $ 33.1 Increase (decrease) in Idaho Power net income: Customer growth, net of associated power supply costs and power cost adjustment mechanisms $ 2.4 Usage per retail customer, net of as
Slide 6: Operating Cash Flows
Operating Cash Flows (millions) Three Months Ended March 31 IDACORP 2018 2017 Net Cash Provided by Operating Activities $ 91.7 $ 113.7 Liquidity As of March 31, 2018 (millions) IDACORP(1) Idaho Power Revolving Credit Facility – Expires November 2022 $ 100.0 $ 300.0 Commercial Paper Outstanding – – I
Slide 7: 2018 Earnings Per Share Guidance & Estimated Key Financial & Operating Metrics
2018 Earnings Per Share Guidance & Estimated Key Financial & Operating Metrics (Millions Except for Per Share Amounts) 2018 Estimates Current(1) Previous(2) IDACORP Earnings Per Diluted Share Guidance No Change $ 4.10 - $ 4.25 Idaho Power Operations & Maintenance Expense No Change $ 345 – $ 355 Idah
Slide 8: Idaho Tax Reform Settlement
Idaho Tax Reform Settlement Annual Tax Reform Benefits By Year(1) (Millions) June 1, 2018 – May June 1, 2019 – 31, 2019 May 31, 2020 Future Years Rate Reduction Benefit (annual) $ 18.7 $ 18.7 $ 18.7 Non-Cash Customer Benefit (annual) 7.4 7.4 7.4 One-Time Benefits(2) 7.8 2.7 – Total Annual Customer B
Slide 9: ADITC Earnings Support Mechanism
ADITC Earnings Support Mechanism(1) Comparison of Terms: Existing and as Settled(2) (1) As approved by the Idaho Public Utilities Commission on October 9, 2014, Order No. 33149. Mechanism does not require a rate case stay out provision. (2) As filed with the Idaho Public Utilities Commission on Apri
Slide 10: Low Cost Energy – Attracting Growth
Low Cost Energy – Attracting Growth Idaho Power Customer Growth 2.1% 545,000 Residential 535,000 Fixed Cost Adjustment -3.60% Power Cost Adjustment -1.29% 525,000 Tax Reform -2.15% 515,000 Combined Impact -7.04% 505,000 Twelve Months 2014 2015 2016 2017 Ended 3/31/2018 No. 1 Fastest Growing City in
Slide 11: Regulatory & Project Updates
Regulatory & Project Updates Extension of ADITC Earnings Support & Revenue Sharing Mechanism Settlement filed in Idaho in April 2018 Tax Reform Dockets Settlement Filed in Idaho Working with Oregon regulator toward positive outcome 500 kV Transmission Line Updates Boardman-to-Hemingway: Oregon commi
Slide 12: Weather Outlook
Weather Outlook May Through July 2018 12 Source: NOAA, National Oceanic Atmospheric Administration, U.S. Dept. of Commerce, April 19, 2018
Slide 13: 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