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Avista (AVA) investor relations material

Avista Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 earnings summary5 Nov, 2025

Executive summary

  • Q3 2025 consolidated earnings per diluted share rose to $0.36 from $0.23 in Q3 2024; year-to-date EPS increased to $1.51 from $1.44, with net income for Q3 at $29M (up from $18M) and nine-month net income at $122M (up from $113M), driven by regulatory outcomes, customer growth, and cost management.

  • Avista Utilities delivered $1.63 per diluted share year-to-date, a nearly 15% increase over 2024, attributed to regulatory outcomes and disciplined capital deployment.

  • Strategic initiatives advanced, including grid-hardening, wildfire resiliency, and a robust 2025 RFP for new capacity and demand response.

  • Retail electric revenues increased due to higher rates and customer growth, while natural gas revenues declined mainly from lower rates and volumes.

  • Wholesale revenues decreased for both electric and natural gas segments, reflecting lower prices and volumes.

Financial highlights

  • Q3 2025 EPS was $0.36 (up from $0.23 in Q3 2024); year-to-date EPS was $1.51 (up from $1.44 year-over-year).

  • Avista Utilities' year-to-date EPS grew to $1.63, up nearly 15% from 2024; Q3 2025 segment EPS was $0.38 (up from $0.25 in Q3 2024).

  • Electric utility margin for the nine months ended Sept. 30, 2025, was $548M, up from $480M year-over-year; natural gas margin $161M vs. $146M.

  • Operating revenues for the nine months ended Sept. 30, 2025, were $1,431M (up from $1,405M); operating cash flow was $394M, down from $444M.

  • Capital expenditures for the nine months were $379M, with full-year 2025 CapEx expected at $525M.

Outlook and guidance

  • 2025 consolidated earnings guidance affirmed at $2.52–$2.72 per diluted share, with consolidated results expected at the lower end due to investment losses; Avista Utilities expected at the upper end of $2.43–$2.61 per share.

  • AEL&P expected to contribute $0.09–$0.11 per diluted share.

  • Long-term earnings growth projected at 4%–6% from the midpoint of 2025 guidance.

  • Base capital expenditures projected to rise to $575M in 2026 and $705M by 2030, with $3.7B planned from 2025–2030 at a 6% annual growth rate.

  • Management expects adequate liquidity for the next 12 months, with $210M available under the main credit line and $43M under the letter of credit facility as of September 30, 2025.

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Frequently asked questions

Avista Corporation is an energy company engaged in the generation, transmission, and distribution of electricity and natural gas. The company provides energy services to residential, commercial, and industrial customers across parts of the Northwestern United States. Its operations include hydroelectric, natural gas, coal, and renewable energy generation. In addition to its utility business, Avista invests in energy-related ventures and emerging technologies. The company is headquartered in Spokane, Washington, and its shares are listed on the NYSE.

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