Group 1 - Avista Corp.'s board of directors has declared a quarterly dividend of $0.475 per share on the company's common stock, payable on September 13, 2024, to shareholders of record as of August 22, 2024 [1] - The board regularly considers the level of dividends based on various factors, including financial results, business strategies, and economic and competitive conditions [1] Group 2 - Avista Corp. is an energy company engaged in the production, transmission, and distribution of energy, serving 418,000 electric customers and 382,000 natural gas customers [2] - The company's service territory spans 30,000 square miles across eastern Washington, northern Idaho, and parts of southern and eastern Oregon, with a total population of 1.7 million [2] - Avista also operates a subsidiary, Alaska Energy and Resources Company, which provides retail electric service in Juneau, Alaska [2]

SPOKANE, Wash., Aug. 07, 2024 (GLOBE NEWSWIRE) -- Avista Corp.’s (NYSE: AVA) board of directors has declared a quarterly dividend of $0.475 per share on the company’s common stock. The common stock dividend is payable September 13, 2024, to shareholders of record at the close of business on August 22, 2024. The declaration of dividends is at the sole discretion of the board of directors. The board considers the level of dividends on a regular basis, taking into account numerous factors, including financial ...

Year-to-date consolidated earnings reflect strength of core utility operationsConfirming consolidated earnings guidance of $2.36 to $2.56 per diluted shareContinued investment in system improved reliability during recent heat wave SPOKANE, Wash., Aug. 07, 2024 (GLOBE NEWSWIRE) -- Avista Corp. (NYSE: AVA) today announced financial results for the second quarter of 2024. Net income and earnings per diluted share for the second quarter and year-to-date 2024 compared to the same periods in 2023 are presented in ...

Year-to-date consolidated earnings reflect strength of core utility operationsConfirming consolidated earnings guidance of $2.36 to $2.56 per diluted shareContinued investment in system improved reliability during recent heat wave SPOKANE, Wash., Aug. 07, 2024 (GLOBE NEWSWIRE) -- Avista Corp. (NYSE:AVA) today announced financial results for the second quarter of 2024. Net income and earnings per diluted share for the second quarter and year-to-date 2024 compared to the same periods in 2023 are presented in ...

[Financial Performance Summary](index=1&type=section&id=Financial%20Performance%20Summary) Avista Corp. reported strong Q2 2024 financial results with increased net income and confirmed full-year EPS guidance, driven by core utility operations [Q2 2024 Financial Highlights](index=1&type=section&id=Q2%202024%20Financial%20Highlights) Avista Corp. reported strong Q2 2024 results, confirming full-year EPS guidance of **$2.36 to $2.56** per diluted share, driven by core utility operations and new customer additions - The company confirmed its **2024 consolidated earnings guidance range of $2.36 to $2.56 per diluted share**[1](index=1&type=chunk)[3](index=3&type=chunk) - A new large electric customer, effective August 1, 2024, is expected to substantially offset higher power supply costs for the year[3](index=3&type=chunk) - Continued system investment improved reliability and ensured strong performance during a recent heat wave[1](index=1&type=chunk)[2](index=2&type=chunk) [Detailed Financial Results](index=1&type=section&id=Detailed%20Financial%20Results) Consolidated net income increased to **$22.9 million** in Q2 2024 and **$94.4 million** year-to-date, primarily driven by the Avista Utilities segment Net Income and EPS by Business Segment (in thousands, except per share data) | | Second Quarter 2024 | Second Quarter 2023 | Year-to-Date 2024 | Year-to-Date 2023 | | :--- | :--- | :--- | :--- | :--- | | **Net Income** | | | | | | Avista Utilities | $23,935 | $18,810 | $91,443 | $70,437 | | AEL&P | $1,109 | $1,359 | $5,020 | $5,401 | | Other | $(2,186) | $(2,685) | $(2,110) | $(3,509) | | **Total Net Income** | **$22,858** | **$17,484** | **$94,353** | **$72,329** | | **Earnings per Diluted Share** | | | | | | Avista Utilities | $0.31 | $0.25 | $1.17 | $0.93 | | AEL&P | $0.01 | $0.02 | $0.06 | $0.07 | | Other | $(0.03) | $(0.04) | $(0.03) | $(0.04) | | **Total EPS** | **$0.29** | **$0.23** | **$1.20** | **$0.96** | [Analysis of Financial Results](index=2&type=section&id=Analysis%20of%20Financial%20Results) This section analyzes financial results, focusing on utility margin reconciliation and the drivers of consolidated earnings changes [Reconciliation of Non-GAAP Measures](index=2&type=section&id=Reconciliation%20of%20Non-GAAP%20Measures) The company uses non-GAAP utility margin to assess operating performance, with total pre-tax utility margin increasing to **$247.7 million** in Q2 2024 and **$550.1 million** year-to-date - The company presents electric and natural gas utility margin, a non-GAAP measure, to inform investors about the impact of changes in loads, rates, and supply costs[4](index=4&type=chunk) Avista Utilities' Reconciliation of Operating Revenues to Utility Margin (in thousands) | Period | Segment | Operating Revenues | Resource Costs | Utility Margin (Pre-Tax) | | :--- | :--- | :--- | :--- | :--- | | **Q2 2024** | **Total** | **$390,814** | **$143,125** | **$247,689** | | Q2 2023 | Total | $368,604 | $140,017 | $228,587 | | **YTD 2024** | **Total** | **$985,750** | **$435,633** | **$550,117** | | YTD 2023 | Total | $828,746 | $332,154 | $496,592 | [Analysis of Consolidated Earnings Changes](index=3&type=section&id=Analysis%20of%20Consolidated%20Earnings%20Changes) Year-to-date 2024 EPS increased from **$0.96 to $1.20**, primarily due to higher electric and natural gas utility margins from rate cases, partially offset by increased operating expenses and depreciation Year-to-Date Change in Diluted Earnings per Share (2023 vs 2024) | Factor | Change in EPS | | :--- | :--- | | 2023 Year-to-Date EPS | $0.96 | | Electric utility margin | +$0.44 | | Natural gas utility margin | +$0.10 | | Other operating expenses | -$0.12 | | Depreciation and amortization | -$0.04 | | Interest expense | -$0.03 | | Other | +$0.03 | | Income tax at effective rate | -$0.09 | | Dilution on earnings | -$0.05 | | **Total Avista Utilities Change** | **+$0.24** | | AEL&P earnings | -$0.01 | | Other businesses earnings | +$0.01 | | **2024 Year-to-Date EPS** | **$1.20** | - Electric and natural gas utility margins increased primarily due to general rate cases[7](index=7&type=chunk)[8](index=8&type=chunk) - Year-to-date operating expenses increased mainly due to higher thermal generation, vegetation management, legal, and employee medical costs[8](index=8&type=chunk) - Depreciation and amortization increased primarily due to additions to utility plant[8](index=8&type=chunk) [Liquidity, Capital, and Guidance](index=4&type=section&id=Liquidity%2C%20Capital%2C%20and%20Guidance) This section details the company's liquidity, capital resources, and confirmed 2024 earnings guidance, along with long-term growth projections [Liquidity and Capital Resources](index=4&type=section&id=Liquidity%20and%20Capital%20Resources) As of June 30, 2024, Avista Corp. had **$250.9 million** in available liquidity, plans to issue **$70 million** in common stock, and projects **$500 million** in 2024 capital expenditures for Avista Utilities - As of June 30, 2024, the company had **$250.9 million** of available liquidity under its committed line of credit[9](index=9&type=chunk) - The company expects to issue approximately **$70 million** of common stock in 2024 and does not anticipate issuing additional long-term debt[9](index=9&type=chunk) 2024 Capital Expenditure Outlook | Entity | 2024 Expected Capex | H1 2024 Actual Capex | | :--- | :--- | :--- | | Avista Utilities | $500 million | $245.2 million | | AEL&P | $21 million | $6.0 million | | Other Businesses | $11 million | $5.1 million | [2024 Earnings Guidance and Outlook](index=4&type=section&id=2024%20Earnings%20Guidance%20and%20Outlook) Avista confirmed its **2024 consolidated EPS guidance of $2.36 to $2.56**, with Avista Utilities contributing **$2.23 to $2.39** per share, and projects long-term earnings growth of **4% to 6%** from a 2025 base 2024 Earnings Guidance per Diluted Share by Segment | Segment | Guidance Range (per diluted share) | | :--- | :--- | | Avista Utilities | $2.23 to $2.39 | | AEL&P | $0.09 to $0.11 | | Other Businesses | $0.04 to $0.06 | | **Consolidated Total** | **$2.36 to $2.56** | - The Energy Recovery Mechanism (ERM) is expected to have a negative **$0.07 per diluted share** impact due to lower hydroelectric generation[11](index=11&type=chunk) - The addition of a new large electric customer is expected to substantially offset the forecast impact of higher power supply costs in 2024[11](index=11&type=chunk) - The company expects long-term earnings growth of **4% to 6%** off a 2025 base year, assuming constructive general rate case outcomes[12](index=12&type=chunk) [Forward-Looking Statements and Risk Factors](index=5&type=section&id=Forward-Looking%20Statements%20and%20Risk%20Factors) This section outlines the nature of forward-looking statements and details key risks, including regulatory, operational, climate, cybersecurity, and financial factors [Overview of Forward-Looking Statements](index=5&type=section&id=Overview%20of%20Forward-Looking%20Statements) This news release contains forward-looking statements regarding future financial performance and operational plans, which are subject to numerous risks and uncertainties that could cause actual results to differ materially - The news release contains forward-looking statements regarding future financial performance, cash flows, capital expenditures, and financing plans[15](index=15&type=chunk) - These statements are subject to numerous risks and uncertainties that could cause actual results to differ materially from those anticipated[15](index=15&type=chunk)[29](index=29&type=chunk) [Key Risk Factors](index=5&type=section&id=Key%20Risk%20Factors) The company faces key risks including adverse regulatory decisions, operational disruptions from weather and wildfires, climate change impacts, cybersecurity threats, and financial risks related to interest rates and commodity market volatility - **Utility Regulatory Risk:** Involves potential state and federal regulatory decisions to disallow or delay cost recovery, affecting the company's ability to earn a reasonable return[16](index=16&type=chunk) - **Operational Risk:** Includes weather conditions affecting energy demand and generation, wildfire liability, supply chain disruptions, and system failures[17](index=17&type=chunk)[19](index=19&type=chunk) - **Climate Change & Cybersecurity Risks:** Encompasses increasing severe weather frequency, impacts on hydroelectric resources, and cyberattack threats on operational and administrative systems[20](index=20&type=chunk)[21](index=21&type=chunk) - **Financial & Energy Commodity Risks:** Pertains to financing ability, interest rate fluctuations, energy and carbon market volatility, and counterparty credit risk[26](index=26&type=chunk)[27](index=27&type=chunk)

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, 2024 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 ...

SPOKANE, Wash., July 31, 2024 (GLOBE NEWSWIRE) -- Avista (NYSE: AVA) has made annual rate adjustment filings with the Idaho Public Utilities Commission (IPUC or Commission) that, if approved, are designed to decrease overall electric revenues by approximately $16.6 million or 5.4% effective Oct. 1, 2024 and decrease overall natural gas revenue by approximately $29.8 million or 25.8% effective Nov. 1, 2024. These annual filings have no impact on Avista’s earnings. Electric Adjustment FilingsTwo annual electr ...

SPOKANE, Wash., July 23, 2024 (GLOBE NEWSWIRE) -- The Avista Foundation is awarding $201,750 in grants to 40 nonprofit organizations in Washington, Idaho, and Oregon to support education and youth development. "Together with our partners, we are making a difference in the lives of young people. Avista is proud to support the vital programs and organizations that nurture, educate, and uplift our youth," said Dennis Vermillion, Avista CEO. The second-quarter grants support a diverse range of organizations and ...

Significantly Enhances Cosette's Ability to Drive Further Growth Through Investments in Business Development and R&DBRIDGEWATER, N.J. and CONSHOHOCKEN, Pa. and NEW YORK, July 17, 2024 /PRNewswire/ -- Avista Capital Partners ("Avista"), a leading New York-based private equity firm focused exclusively on healthcare, and Hamilton Lane, a leading global private markets investment management firm (Nasdaq: HLNE), today announced that funds managed by Hamilton Lane have acquired a significant equity interest in Co ...

SPOKANE, Wash., July 08, 2024 (GLOBE NEWSWIRE) -- Avista Corp. (NYSE: AVA) will hold its quarterly conference call and webcast to discuss second quarter 2024 results on Wednesday, August 7, 2024, at 10:30 a.m. Eastern Daylight Time. A news release with second quarter 2024 earnings information will be issued at 7:05 a.m. Eastern Daylight Time on August 7, 2024. This call can be accessed on Avista’s website at investor.avistacorp.com. You must pre-register for the call via the Presentations and Events link at ...