Avista Corp. Reports 2024 Results and Initiates 2025 Earnings Guidance

Avista Corp. (NYSE: AVA) has reported its financial results for the year ended December 31, 2024, and initiated its earnings guidance for 2025. The company's net income for the fourth quarter of 2024 was $67 million, compared to $84 million in the same period in 2023. The earnings per diluted share for the fourth quarter of 2024 were $0.84, down from $1.08 in the same period in 2023. For the full year 2024, Avista Corp.'s net income was $180 million, up from $171 million in 2023. The earnings per diluted share for the full year 2024 were $2.29, up from $2.24 in 2023.

Avista Corp.'s CEO, Heather Rosentrater, commented on the results, stating, "I’m proud of our performance in 2024. Our utility operations led continued improvement in our consolidated earnings, even with the headwinds we experienced from higher power supply and operating costs during the year. We laid a strong foundation in 2024, with record levels of capital investment to better serve our customers. I'm also excited about the opportunities 2025 will bring, including seeking out transmission projects and additional large load customers that align with our strategic priorities."

Avista Corp. has initiated its consolidated earnings guidance for 2025 with a range of $2.52 to $2.72 per diluted share. This guidance reflects the company's expectation of continued regulatory execution in Oregon and Idaho, as well as the potential benefits from joining the North Plains Connector transmission line project. The company expects a constructive rate order for its Washington general rate cases in mid-December 2024, and earlier this month, filed a general rate case in Oregon. Avista Corp. plans to file its next case in Idaho in early 2025.



Avista Corp.'s financial results reflect the strength of its core utility operations, particularly in Avista Utilities, as it made investments in the grid to ensure stable performance during a recent heatwave in the West. The company confirmed its consolidated earnings guidance for 2024, expecting to achieve $2.26 to $2.46 per diluted share. Avista Corp. anticipates Avista Utilities to contribute within a range of $2.23 to $2.39 per diluted share in 2024 and AEL&P to contribute in the range of $0.09 to $0.11 per diluted share. The company also expects long-term earnings growth of 4 to 6 percent off of a 2025 base year, assuming constructive outcomes in its general rate cases.

Avista Corp.'s shares moved 1.1% to a price of $38.17 following the announcements. For more information, read the company's full 8-K submission here.