Slide 1: Earnings Conference Call 3rd Quarter 2018
Earnings Conference Call 3rd Quarter 2018 November 1, 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 Nine Months Ended September 30 Ended September 30 2018 2017 2018 2017 Net Income $ 102,231 $ 90,634 $ 200,661 $ 173,567 Average shares outstanding– diluted 50,565 50,421
Slide 5: Third Quarter 2017 to 2018
Third Quarter 2017 to 2018 IDACORP, Inc. Net Income (millions) Net Income – For the Quarter Ended September 30, 2017 $ 90.6 Increase (decrease) in Idaho Power net income: Customer growth, net of associated power supply costs and power cost adjustment mechanisms $ 2.9 Usage per retail customer, net o
Slide 6: Operating Cash Flows and Liquidity
Operating Cash Flows (millions) Nine Months Ended September 30 IDACORP 2018 2017 Net Cash Provided by Operating Activities $ 365.9 $ 346.0 Liquidity As of September 30, 2018 (millions) IDACORP(1) Idaho Power Revolving Credit Facility – Expires November 2022 $ 100.0 $ 300.0 Commercial Paper Outstandi
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 $ 4.40 – $ 4.50 $ 4.20 – $ 4.30 Idaho Power Operations & Maintenance Expense No Change $ 345 – $ 35
Slide 8: Strong Economic Growth
Strong Economic Growth 2.2% Idaho Power Customer Growth 550,000 540,000 530,000 520,000 510,000 Idaho Power’s 2014 2015 2016 2017 Twelve Months Ended 9/30/2018 Service Area No. 7 Cities Where Jobs are Plentiful and Businesses are Thriving (Boise) — CNBC, published September 2018 No. 8 America’s Bigg
Slide 9: Common Stock Dividend Growth
Common Stock Dividend Growth “IDACORP’s Board of Directors has approved a dividend increase effective every year since 2012. Cumulatively, these changes represent an increase of 110 percent in IDACORP’s quarterly dividend over that period. As customer and earnings growth has continued, we have also
Slide 10: Boardman to Hemingway
Boardman to Hemingway 500kV Transmission Line Project • Joint funding agreement January 2012 for project permitting costs • Idaho Power - 21% • BPA - 24% • PacifiCorp – 55% • 300 mile, 500-kV transmission line • In-service date – 2025 or beyond • Capacity: • 1,000 MW east to west • 1,050 MW west to
Slide 11: Weather Outlook
Weather Outlook November 2018 Through January 2019 11 Source: NOAA, National Oceanic Atmospheric Administration, U.S. Dept. of Commerce, October 18, 2018
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