IDACORP, Inc. (NYSE:IDA) Q4 2023 Earnings Conference Call February 15, 2024 4:30 PM ET
Company Participants
Amy Shaw - Vice President of Finance, Compliance and Risk
Lisa Grow - President and Chief Executive Officer
Brian Buckham - Senior Vice President and Chief Financial Officer
Adam Richins - Senior Vice President and Chief Operating Officer
Conference Call Participants
Alex Mortimer - Mizuho Securities
Julien Dumoulin-Smith - Bank of America
Jamieson Ward - Guggenheim Partners
Brian Russo - Sidoti & Company
Bill Appicelli - UBS Securities
Operator
Welcome to IDACORP's Fourth Quarter and Year-End 2023 Earnings Conference Call. Today's call is being recorded and our webcast is live. A replay will be available later today and for the next 12 months on the IDACORP Web site. [Operator Instructions]
I will now turn the call over to Amy Shaw, Vice President of Finance, Compliance and Risk.
Amy Shaw
Thank you. Good afternoon everyone. We appreciate you joining our call. This morning, we issued and posted to IDACORP's Web site our fourth quarter and year-end 2023 earnings release and our Form 10-K. The slides that accompany today's call are also available on IDACORP's Web site. During the call, we'll refer to the slides by number.
As noted on slide two, our discussion today includes forward-looking statements, including earnings guidance, spending forecasts and regulatory plans that reflect our current views on what the future holds, but are subject to risks and uncertainties. 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. This cautionary note is included in more detail for your review in our filings with the Securities and Exchange Commission.
As shown on slide three, Lisa Grow, IDACORP's President and Chief Executive Officer; and Brian Buckham, IDACORP's Senior Vice President, Chief Financial Officer, and Treasurer will be presenting today. 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 four shows our full-year financial results. IDACORP's 2023 diluted earnings per share were $5.14 compared with $5.11 last year. Both 2023 revenues and earnings are IDACORP's highest in the history of the company, and 2023 was the 16th consecutive year of growth in earnings per share, which is something to celebrate. Today, we initiated our full-year 2024 IDACORP earnings guidance estimate in the range of $5.25 to $5.45 diluted earnings per share, which includes our expectation that Idaho Power will utilize approximately $35 million to $60 million of additional tax credits that are available to support earnings at the 9.12% return on equity level in the Idaho jurisdiction under its Idaho general rate case settlement stipulation.