Slide 1: Earnings Conference Call 4th Quarter & Year End 2017
Earnings Conference Call 4th Quarter & Year End 2017 February 22, 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 Year Ended Ended December 31 December 31 2017 2016 2017 2016 Net Income $ 38,852 $ 33,213 $ 212,419 $ 198,288 Average shares outstanding– diluted 50,474 50,407 50,424 50
Slide 5: IDACORP, Inc. Net Income (millions)
2016 to 2017 IDACORP, Inc. Net Income (millions) Net Income – For the Year Ended December 31, 2016 $ 198.3 Increase (decrease) in Idaho Power net income: Customer growth, net of associated power supply costs and power cost adjustment mechanisms $ 9.2 Usage per customer, net of associated power suppl
Slide 6: Operating Cash Flows
Operating Cash Flows (millions) Year Ended December 31 IDACORP 2017 2016 Net Cash Provided by Operating Activities $ 438.0 $ 347.7 Liquidity As of December 31, 2017 (millions) IDACORP(1) Idaho Power Revolving Credit Facility – Expires November 2022 $ 100.0 $ 300.0 Commercial Paper Outstanding – – Id
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) Performance Metrics 2018 Estimates(1) 2017 Actual IDACORP Earnings Per Diluted Share Guidance(2) $ 4.10 - $ 4.25 $ 4.21 Idaho Power Operations & Maintenance Expense $ 345 – $ 355 $
Slide 8: Growth & Economic Expansion
Growth & Economic Expansion 2.0% 545,000 Idaho Power Customer Growth 535,000 525,000 515,000 505,000 495,000 2013 2014 2015 2016 2017 No. 1 Fastest Growing State (Idaho) — U.S. Census Bureau, published December 2017 No. 5 Cheapest States to Raise a Family (Idaho) - Huffington Post, December 2017 No.
Slide 9: Low Cost Energy – Attracting Investment
Low Cost Energy – Attracting Investment Average Industrial Rates per kWh 0.07 0.06 0.05 Industrial Idaho Power National Average Caldwell Boise Pocatello 9
Slide 10: Regulatory & Project Updates
Regulatory & Project Updates Tax Reform Dockets Working with Idaho and Oregon Regulators Toward Positive Outcomes 500 kV Transmission Line Update Boardman-to-Hemingway: Received Bureau of Land Management Record of Decision in Q4 Hells Canyon Complex Reasonableness Review Idaho Settlement Stipulation
Slide 11: 2018 Business Strategy
2018 Business Strategy Prosper by providing reliable, responsible, fair-priced energy services, today and tomorrow. To be regarded as an exceptional, independent, integrated electric utility. Integrity, Safety, and Respect IDACORP is committed to its focus on competitive total returns and generating
Slide 12: Managing Environmental Impact
Managing Environmental Impact 2017 Power Supply at Idaho Power Purchased Power - Purchased Power Other, 8% - CSPP*, 16% Natural Gas, 8% Coal, 18% Hydro, 50% * Cogeneration and small power production 12
Slide 13: Weather Outlook
Weather Outlook March Through May 2018 13 Source: NOAA, National Oceanic Atmospheric Administration, U.S. Dept of Commerce, February 15, 2018
Slide 14: 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