Slide 1: Earnings Conference Call 1st Quarter 2020
Earnings Conference Call 1 st Q u a r t e r 2 0 2 0 April 30, 2020
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 Lisa Grow Steve Keen IDACORP President Idaho Power Company President IDACORP Senior Vice President & & Chief Executive Officer Chief Financial Officer 3
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 2020 2019 Net Income $ 37,490 $ 42,686 Average shares outstanding– diluted 50,527 50,518 Earnings per diluted share $ 0.74 $ 0.84 4
Slide 5: Our Core Values in Action – COVID-19
Our Core Values in Action – COVID-19 Safety First: • Executing business continuity, pandemic response, and internal emergency plans • Closed Idaho Power facilities and recreation sites • Implemented remote working for more than half the workforce • Virtual meetings and elimination of non-essential t
Slide 6: Idaho Power Retail Load: Mar 1 – Apr 20, 2020
Idaho Power Retail Load: Mar 1 – Apr 20, 2020 COVID-19 “Soft” State (Idaho) Mandated “Stay Home” Order Closures Forecast Actual Actual load ~2% lower than Weather Adjusted forecast 3/15 – 4/20/2020 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 1 2 3 4 5 6 7 8 9
Slide 7: Operating Cash Flows
Operating Cash Flows (millions) Three Months Ended March 31 IDACORP 2020 2019 Net Cash Provided by Operating Activities $ 33.8 $ 57.0 Liquidity As of March 31, 2020 (millions) IDACORP(1) Idaho Power Revolving Credit Facility – Expires December 2024 $ 100.0 $ 300.0 Commercial Paper Outstanding – – Id
Slide 8: Q1 2019 to Q1 2020
Q1 2019 to Q1 2020 IDACORP, Inc. Net Income (millions) Net Income – For the Quarter Ended March 31, 2019 $ 42.7 Increase (decrease) in Idaho Power net income: Customer growth, net of associated power supply costs and power cost adjustment mechanisms $ 3.6 Usage per retail customer, net of associated
Slide 9: 2020 Earnings Per Share Guidance & Estimated Key Financial & Operating Metrics
2020 Earnings Per Share Guidance & Estimated Key Financial & Operating Metrics (Millions Except for Per Share Amounts) 2020 Estimates Current(1) Previous(2) IDACORP Earnings Per Diluted Share Guidance No Change $ 4.45 – $ 4.65 Idaho Power Additional Amortization of Accumulated No Change None Deferre
Slide 10: Growth & Economic Expansion
Growth & Economic Expansion 2.6% 570,000 Idaho Power Customer Growth 560,000 550,000 540,000 530,000 520,000 Twelve Months 2016 2017 2018 2019 Ended Mar. 31, 2020 Top 5 States in Percent Growth, 2018 to 2019 * 1 2 3 4 5 2.1% 1.7% 1.7% 1.7% 1.3% 10 Idaho Nevada Arizona Utah Texas *Source: U.S. Census
Slide 11: Weather Outlook
Weather Outlook May Through July 2020 11 Source: NOAA, National Oceanic Atmospheric Administration, U.S. Dept. of Commerce, April 16, 2020
Slide 12: 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