Idacorp (IDA) Investor presentation summary

Financial performance and growth

• Achieved $1.81 billion in revenue, $5.90 diluted EPS, and 9.4% ROE for 2025, with 18 consecutive years of earnings growth and a 7% EPS CAGR since 2007.

• Annualized dividend per share reached $3.52 in 2025, reflecting a 193% increase since 2011 and a near-term payout ratio target of 50–60%.

• Projected 2026 EPS guidance is $6.25–$6.45, with capital expenditures forecasted at $1.3–$1.5 billion for 2026.

• Maintains a strong balance sheet, no holding company debt, and investment-grade credit ratings.

• Operating cash flows exceeded $600 million in 2025, with robust liquidity and equity financing options.

Customer and load growth

• Metered customer count grew 2.3% year-over-year, serving over 660,000 customers in a 24,000 sq. mi. area.

• Idaho’s economic growth supports robust customer and load increases, with 5-year forecasted annual peak growth at 8.3% and retail sales at 5.1%.

• Moody’s projects 4.7% GDP growth for the service area in 2026.

• Major industrial expansions, such as Micron’s $15 billion fab, are driving further demand.

Capital investment and infrastructure

• $7.1 billion capital plan for 2026–2030, with annual capex averaging $1.4 billion, nearly double the previous five-year average.

• Rate base expected to grow at a 16.7% CAGR, reaching $11.4 billion by 2030.

• Major transmission projects include Boardman-to-Hemingway (B2H) and Gateway West, with B2H expected online by late 2027.

• Integrated Resource Plan (IRP) calls for significant new solar, wind, storage, and gas resources, with coal-to-gas conversions by 2030.