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Avista (AVA) investor relations material
Avista Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 GAAP net income rose to $49M from $29M; nine-month net income increased to $176M from $122M, supported by investment earnings and rate-case effects.
Strong execution and cost management supported reaffirmed 2026 utility earnings guidance, with results expected near the midpoint.
Spokane Complex wildfire facility damage was not material; community recovery and rebuilding may take multiple years.
Financial highlights
Q3 diluted EPS was $0.57 vs. $0.36; nine-month diluted EPS was $2.11 vs. $1.51.
Q3 non-GAAP utility EPS was $0.38 vs. $0.37; nine-month utility EPS was $1.76 vs. $1.67.
Q3 operating revenue was $421M vs. $403M and operating income was $66M vs. $60M; nine-month revenue was $1.404B vs. $1.431B and operating income was $254M vs. $242M.
Nine-month operating cash flow was $435M vs. $394M; utility capital expenditures were $511M vs. $379M.
Outlook and guidance
2026 non-GAAP utility EPS guidance was affirmed at $2.52–$2.72, with results expected near the midpoint; assumptions include normal weather, a 12% effective tax rate and $615M of capital expenditures.
Guidance includes a $0.09-per-share negative ERM impact within the 90% customer/10% utility sharing band.
Long-term utility earnings growth expectation is 4%–6%; expected utility ROE is ~9%, excluding ERM impact and reflecting ~60 bps of structural lag.
Washington’s four-year rate plan seeks electric base-revenue increases of $111M in 2027, $43M in 2028, $34M in 2029 and $28M in 2030; a WUTC decision was expected in December 2026.
AEL&P filed for 12.5% interim electric rate relief in June 2026 and seeks a further 12.6% permanent increase, potentially effective August 2027.
- Record revenue masked weather-driven utility weakness as national energy trading scaled rapidly.AVA
Q4 1998 - Trading losses cut EPS sharply, while utilities and growth affiliates supported the transformation.AVA
Q4 1999 - Trading gains lifted EPS, but historic power prices crushed utility earnings.AVA
Q4 2000 - Regulatory recovery and new generation aimed to reverse the cash strain from costly power purchases.AVA
Q4 2001 - Utility gains and weaker trading margins shaped 2002; 2003 diluted EPS guidance is $0.80–$1.00.AVA
Q4 2002 - Earnings improved, but lower cash flow and regulatory and market risks cloud the outlook.AVA
Q4 2003 - Idaho write-offs and weaker energy trading reduced 2004 earnings as recovery plans continued.AVA
Q4 2004 - Utility gains lifted earnings, offsetting energy-market losses and ongoing credit pressure.AVA
Q4 2005 - FY06 earnings rebounded, but 2007 utility outlook and relicensing costs remain uncertain.AVA
Q4 2006 - Lower utility margins and energy-trading losses cut 2007 earnings; rate relief targeted recovery.AVA
Q4 2007
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