Slide 1: Earnings Conference Call 1st Quarter 2021
Earnings Conference Call 1st Quarter 2021 April 29, 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 Ended March 31, 2021 2021 2020 Net income $ 44,831 $ 37,490 Average shares outstanding – diluted (000’s) 50,580 50,527 Earnings per diluted share $ 0.89 $ 0.74 4
Slide 5: Increasing Customer Growth Rate
Increasing Customer Growth Rate Idaho Power Customer Growth 600,000 590,000 2.9% 580,000 570,000 560,000 550,000 540,000 Twelve Months 2017 2018 2019 2020 Ended March 31, 2021 More than 1,700 new customers in March alone. Annualized increase of 3.5%, from 2020’s base. 5
Slide 6: Continued Economic Growth
Continued Economic Growth Moody’s GDP Growth Projections Idaho Power’s Service Area: 2021: 8.0% 2022: 8.1% 2023: 6.8% 6
Slide 7: Coal Plant Exits & Long-Term Growth Planning
Coal Plant Exits & Long-Term Growth Planning Valmy Unit 1 Ended 2019 Reliable Affordable Clean Boardman Shut Down 2020 Hells Canyon, Idaho and Oregon Border 7
Slide 8: Weather Outlook
Weather Outlook May Through July 2021 8 Source: NOAA, National Oceanic Atmospheric Administration, U.S. Dept. of Commerce, April 15, 2021
Slide 9: Q1 2020 to Q1 2021
Q1 2020 to Q1 2021 IDACORP, Inc. Net Income (millions) Net Income – For the Quarter Ended March 31, 2020 $ 37.5 Increase (decrease) in Idaho Power net income: Customer growth, net of associated power supply costs and power cost adjustment mechanisms $ 3.7 Usage per retail customer, net of associated
Slide 10: Operating Cash Flows
Operating Cash Flows (millions) Three Months Ended March 31 IDACORP 2021 2020 Net Cash Provided by Operating Activities $ 83.7 $ 33.8 Liquidity As of March 31, 2021 (millions) IDACORP(1) Idaho Power Revolving Credit Facility – Expires December 2024 $ 100.0 $ 300.0 Commercial Paper Outstanding – – Id
Slide 11: 2021 Earnings Per Share Guidance & Estimate Key Operating Metrics
2021 Earnings Per Share Guidance & Estimate Key Operating Metrics (Millions Except for Per Share Amounts) Current(1) Previous(2) IDACORP Earnings Per Diluted Share Guidance No change $ 4.60 – $ 4.80 Idaho Power Additional Amortization of Accumulated No change None Deferred Investment Tax Credits Ida
Slide 12: Contact Information
Contact Information Investors & Analysts Media Justin S. Forsberg Sven Berg Director of Investor Relations & Treasury Corporate Communications (208) 388-2728 (208) 388-2905 JForsberg@idacorpinc.com SBerg@idahopower.com Webcast and presentation on WWW.IDACORPINC.COM