Avista Corporation (NYSE:AVA) Q2 2023 Results Conference Call August 2, 2023 10:30 AM ET Company Participants Stacey Wenz - IR Manager Dennis Vermillion - President and CEO Kevin Christie - SVP, CFO, Treasurer and Regulatory Affairs Officer Operator Good day, and thank you for standing by. Welcome to the Avista Corporation Q2 2023 Earnings Call. [Operator Instructions] Please be advised today’s conference is being recorded. I would now like to hand the conference over to your speaker today, Stacey Wenz. Ple ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission file number 1-3701 AVISTA CORPORATION (Exact name of Registrant as specified in its charter) Washington 91-0462470 (State or other jurisdiction o ...

Q1 2023 Earnings Call Participants ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission file number 1-3701 AVISTA CORPORATION (Exact name of Registrant as specified in its charter) Washington 91-0462470 (State or other jurisdiction ...

Avista Corporation (NYSE:AVA) Q4 2022 Earnings Conference Call February 22, 2023 10:30 AM ET Company Participants Stacey Wenz - Investors Relations Manager Dennis Vermillion - President and Chief Executive Officer Mark Thies - Executive Vice President and Chief Financial Officer Kevin Christie - Senior Vice President, External Affairs and Chief Customer Officer Conference Call Participants Brian Russo - Sidoti & Company, LLC Operator Good day, and thank you for standing by. Welcome to the Avista Corporation ...

Welcome Fourth Quarter 2022 Earnings Webcast February 22, 2023 Call Participants Dennis Vermillion Mark Thies Kevin Christie Ryan Krasselt President and CEO Executive VP, CFO, and Treasurer Senior VP, External Affairs, and Chief Customer Officer VP, Controller, and Principal Accounting Officer 2 Forward-Looking Statements This presentation contains forward-looking statements, including statements regarding our current expectations for future financial performance and cash flows, capital expenditures, financ ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission file number 001-03701 | --- | --- | --- | |----------------------------------------------------------------------------|----------------------------- ...

Financial Data and Key Metrics Changes - Consolidated earnings for Q4 2021 were $0.71 per diluted share, down from $0.85 in Q4 2020. For the full year, consolidated earnings were $2.10 per diluted share in 2021, compared to $1.90 in 2020 [5][12]. - Avista Utilities contributed $1.79 per diluted share in 2021, slightly down from $1.83 in 2020, primarily due to increased operating and depreciation expenses [13][14]. Business Line Data and Key Metrics Changes - The decrease in earnings for Avista Utilities was attributed to increased operating expenses, including higher insurance, IT costs, and labor benefits [13][14]. - Other businesses showed significant improvement, contributing $0.21 per share in 2021 compared to a loss of $0.05 per share in 2020, driven by investment gains [14][15]. Market Data and Key Metrics Changes - Economic recovery led to increased loads for non-decoupled customers, which positively affected earnings, although power supply costs increased due to lower hydro conditions and higher gas prices [14][18]. - The company expects customer growth of about 1% to 1.5% annually, an improvement from the previous range of 0.5% to 1% [18]. Company Strategy and Development Direction - The company completed the installation of smart electric meters and natural gas modules in Washington State, enhancing customer access to real-time data [7][8]. - Avista aims for carbon neutrality in natural gas by 2045 and has set a goal for a 30% reduction in greenhouse gas emissions by 2030 [8]. - The company is pursuing new power purchase agreements to add renewable hydropower to its portfolio starting in 2024 [8][9]. Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about moving towards a new normal post-pandemic and highlighted the company's achievements in 2021 [6]. - The company confirmed its earnings guidance for 2022 and 2023, projecting ranges of $1.93 to $2.13 for 2022 and $2.42 to $2.62 for 2023 [11][17]. Other Important Information - The Board approved a 4.1% increase in the annual dividend to $1.76 per share, marking the 20th consecutive year of dividend increases [12]. - The company plans to issue $400 million in long-term debt in Q1 2022 and expects to issue additional equity to fund expenditures [16][19]. Q&A Session Summary Question: Confirmation on authorized ROE in 2023 - Management confirmed that the earnings guidance assumes a typical recovery of 60% to 65% of the total ask in the Washington rate case [22][25]. Question: Bridge from 2022 to 2023 guidance - Management indicated that the guidance includes factors beyond rate relief, such as customer growth and inflationary pressures [26][28]. Question: ERM mechanism and market conditions - Management noted that higher gas prices and lower hydroelectric generation are impacting the ERM, with a focus on managing costs [34][36]. Question: CapEx forecast and inflation impact - Management expressed confidence in meeting CapEx targets despite inflationary pressures, indicating potential adjustments in project execution [49][52]. Question: Long-term growth outlook - Management expects to grow earnings at a rate of 4% to 6% from 2024 onwards, contingent on achieving allowed returns [45][46].