Avista Stock Earnings Reports

Avista reported stronger Q3 2025 results with consolidated EPS of $0.36 versus $0.23 a year ago and year-to-date consolidated EPS of $1.51 vs $1.44. Management affirmed 2025 consolidated guidance of $2.52–$2.72 per share, noting Avista Utilities is expected at the upper end of its guidance while consolidated results are at the lower end due to year-to-date valuation losses in other investments. Utility operations showed nearly 15% year-to-date earnings growth driven by constructive regulatory outcomes, customer load growth and disciplined cost management. Key operational highlights include significant progress on wildfire resiliency (no public safety power shutoffs this season, pilots for undergrounding and covered conductor, expanded weather stations and AI-enabled cameras) and upcoming wildfire mitigation filings in Idaho and work in Washington. Avista narrowed a competitive 2025 all-source RFP (shortlist from >80 bids) targeting up to 425 MW of capacity and at least 5 MW of demand response; management is focused on projects that can begin construction by July 2026 to capture federal tax credits. Capital plan: $363M spent through Q3; company expects $525M for 2025 and $3.7B from 2025–2030 (≈6% annual rate base growth). There is potential incremental capital of up to $500M (2026–2029) tied to RFP outcomes and potential large-load customers; incremental financing expected roughly 50/50 debt/equity and Avista expects modest equity issuance ($80M in 2026) and ~$120M long-term debt in 2026. Regulatory activity: implemented settlements in Oregon and Idaho, planning a Washington multiyear rate plan (2–4 years) to be filed in Q1 2026 with power supply resets each year as appropriate; ERM treatment likely unchanged in the near term, implying a power-cost drag. Other items: AEL&P is performing well (expected contribution $0.09–$0.11), the company incurred ~$0.16 of investment valuation losses YTD which pressured consolidated results, and long-term earnings growth is expected at 4–6% from the midpoint of 2025 guidance.