IDACORP, Inc. (NYSE:IDA) Q4 2022 Results Conference Call February 16, 2023 4:30 PM ET

Company Participants

Justin Forsberg - Director of Investor Relations and Treasury

Lisa Grow - President and Chief Executive Officer

Brian Buckham - Senior Vice President and Chief Financial Officer

Adam Richins - Senior VP & COO

Conference Call Participants

Brian Russo - Sidoti

Anthony Crowdell - Mizuho

Chris Ellinghaus - Siebert

Operator

Good day, everyone. Welcome to the IDACORP's Fourth Quarter and Year-End 2022 Earnings Conference Call. Today's call is being recorded and is on our webcast live. A replay will be available later today and for the next 12 months on the IDACORP website. [Operator Instructions].

I would now like to turn the call over to Mr. Justin Forsberg, Director of Investor Relations and Treasury. Please go ahead, sir.

Justin Forsberg

Thanks, Gallienne, and good afternoon, everyone. We appreciate you tuning in for our call.

This morning, we issued and posted to IDACORP's website our fourth quarter and year-end 2022 earnings release and the associated Form 10-K. The slides that accompany today's call are also available on IDACORP's website. We'll refer to those slides by number throughout the call today.

As noted on Slide 2, our discussion today includes forward-looking statements, including earnings guidance, spending forecasts and regulatory plans, which reflect our current views on what the future holds, but are subject to several risks and uncertainties, including uncertainties surrounding the impacts of future economic conditions. This cautionary note is also included in more detail for your review in our filings with the Securities and Exchange Commission.

These risks and uncertainties may cause actual results to differ materially from statements made today, and we caution against placing undue reliance on any forward-looking statements.

As shown on Slide 3, on today's call, we have Lisa Grow, IDACORP's President and Chief Executive Officer; and Brian Buckham, IDACORP's Senior Vice President and Chief Financial Officer. In addition to Lisa and Brian, we have other members of our management team available for a Q&A session following our prepared remarks.

Slide 4, shows our full year financial results. IDACORP's 2022 earnings per diluted share were $5.11, an increase of more than 5% or $0.26 per share from last year, reflecting the impacts of customer growth, weather and a mid-year regulatory order, partially offset by higher operating costs. Both 2022 revenues and earnings are IDACORP's highest in the history of the company, and the 2022 earnings results were the 15th consecutive year in growth of earnings per share.