Avista (AVA) came out with quarterly earnings of $0.23 per share, beating the Zacks Consensus Estimate of $0.14 per share. This compares to earnings of $0.19 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 64.29%. A quarter ago, it was expected that this utility would post earnings of $0.22 per share when it actually produced earnings of $0.29, delivering a surprise of 31.82%.Over the last four quarters, the company has surpas ...

Quarterly results demonstrate continued improvement at core utility from 2023Expect to be at the low end of Avista Utilities guidance rangeLowering earnings guidance for our other businesses due to lower than expected investment valuations SPOKANE, Wash., Nov. 06, 2024 (GLOBE NEWSWIRE) -- Avista Corp. (NYSE: AVA) today announced financial results for the third quarter of 2024. Net income and earnings per diluted share for the third quarter and year-to-date 2024 compared to the same periods in 2023 are prese ...

Exhibit 99.1 1 Contact: Media: Lena Funston (509) 495-8090 lena.funston@avistacorp.com Investors: Stacey Wenz (509) 495-2046 stacey.wenz@avistacorp.com Avista 24/7 Media Access (509) 495-4174 Avista Corp. Reports Financial Results for the Third Quarter of 2024 • Quarterly results demonstrate continued improvement at core utility from 2023 • Expect to be at the low end of Avista Utilities guidance range • Lowering earnings guidance for our other businesses due to lower than expected investment valuations | - ...

Financial Performance - For the three months ended September 30, 2024, Avista Corporation reported a net income of $30 million, a decrease of 15% compared to $35 million for the same period in 2023[6]. - Net income for the three months ended September 30, 2024, was $18,487 thousand, compared to $14,716 thousand for the same period in 2023, representing a year-over-year increase of 25.3%[26]. - Net income for 2024 increased to $112,840,000 from $87,045,000 in 2023, representing a growth of approximately 29.5%[31]. - Comprehensive income for the nine months ended September 30, 2024, was $112,822 thousand, up from $86,989 thousand in 2023, reflecting a growth of 29.8%[26]. - The company reported a net decrease in short-term borrowings of $61,750,000 in 2024, a significant improvement from a decrease of $241,500,000 in 2023[34]. - The company reported total gains or losses included in regulatory assets/liabilities of $1.0 million for the three months ended September 30, 2024[107]. Revenue and Sales - Total revenue for the nine months ended September 30, 2024, was $1.2 billion, reflecting a 5% increase from $1.14 billion in the same period of 2023[6]. - Utility revenues for the three months ended September 30, 2024, were $393,742,000, an increase from $379,626,000 for the same period in 2023[66]. - The company recorded a total of $1,136,926,000 in operating revenue for the nine months ended September 30, 2024, compared to $1,058,725,000 for the same period in 2023[68]. - Total electric revenue from contracts with customers for the three months ended September 30, 2024, was $264.125 million, a 12.7% increase from $234.316 million in the same period of 2023[69]. - Total retail electric revenue for the nine months ended September 30, 2024, reached $783.146 million, a 11.3% increase compared to $703.917 million for the same period in 2023[69]. Expenses and Liabilities - Current liabilities decreased to $700,155 thousand as of September 30, 2024, from $775,205 thousand at the end of 2023, showing a reduction of 9.7%[28]. - Long-term debt increased to $2,598,646 thousand as of September 30, 2024, compared to $2,515,358 thousand at the end of 2023, representing an increase of 3.3%[28]. - Interest expense for the three months ended September 30, 2024, was $37,326,000, compared to $35,484,000 in the same period in 2023, reflecting an increase of approximately 5.2%[136]. - The company faces risks related to cyberattacks on operational and administrative systems, which could disrupt operations and incur liabilities[16][17]. Capital Expenditures and Investments - The company anticipates capital expenditures of approximately $300 million for the fiscal year 2024, focusing on infrastructure improvements and renewable energy projects[11]. - Utility property capital expenditures for 2024 were $405,428,000, compared to $359,277,000 in 2023, representing an increase of about 12.9%[34]. - The company expects capital expenditures to be approximately $515 million in 2024, with projected increases to $525 million in 2025, $575 million in 2026, and $600 million in 2027[197]. Customer Growth and Service - Avista's customer base grew by 3% year-over-year, with a total of 400,000 electric customers as of September 30, 2024[6]. - The average number of electric customers increased to 418,899 in Q3 2024 from 413,083 in Q3 2023, while natural gas customers rose to 380,551 from 376,978[166]. Regulatory and Compliance Issues - The company has unresolved regulatory, legal, and tax issues, which may lead to material loss contingencies[44]. - The company expects additional financial burdens associated with compliance with the Washington Climate Commitment Act[203]. - The SEC adopted final rules for climate disclosures effective for filings starting with the 2025 Annual Report on Form 10-K[204]. Renewable Energy and Sustainability - Avista Corporation plans to expand its renewable energy portfolio, aiming for a 20% increase in renewable energy generation by 2026[11]. - The company has initiated a new energy efficiency program projected to save customers approximately $10 million annually[11]. Shareholder Value and Dividends - The company expects to maintain a dividend payout ratio of 60% for the upcoming fiscal year, reflecting its commitment to returning value to shareholders[11]. - Cash dividends paid in 2024 amounted to $112,475,000, compared to $105,163,000 in 2023, marking an increase of about 6.3%[34]. Legal Matters - The Company is facing a lawsuit seeking recovery of up to $4.4 million for fire suppression costs related to the Boyds Fire, which occurred in August 2018[116]. - The Company is involved in ongoing arbitration regarding business disagreements with co-owners of Colstrip Units 3 and 4, with discussions re-engaging after a stay lapsed in April 2024[125].

SPOKANE, Wash., Nov. 04, 2024 (GLOBE NEWSWIRE) -- Avista Corporation (NYSE: AVA) today signed a nonbinding memorandum of understanding with North Plains Connector LLC, a wholly owned entity of Grid United, in the development of the North Plains Connector, an approximately 420-mile high-voltage direct-current (HVDC) transmission line to be constructed with endpoints near Bismarck, North Dakota and Colstrip, Montana. The parties will now work to finalize definitive agreements regarding Avista's participation, ...

SPOKANE, Wash., Nov. 01, 2024 (GLOBE NEWSWIRE) -- Today, Avista (NYSE: AVA) filed a request with the Public Utility Commission of Oregon (PUC) to increase natural gas base rates effective September 1, 2025. The proposal is designed to increase overall natural gas base revenue by approximately $7.8 million, or 6.6% on a billed basis, and is based on a proposed rate of return of 7.67% with a common equity ratio of 50% and a 10.4% return on equity. “Our customers remain our primary focus as we make decisions a ...

Avista (AVA) is expected to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on November 6. On ...

SPOKANE, Wash., Oct. 29, 2024 (GLOBE NEWSWIRE) -- The Avista Foundation is awarding $122,750 in grants to 27 nonprofit organizations in Washington, Idaho, Oregon, and Alaska to support economic and community development. "With these contributions, the Avista Foundation is creating positive change, driving economic development, and enriching our communities," said Dennis Vermillion, Avista CEO. The third-quarter grants support a diverse range of organizations and programs. A few examples include: Supporting ...

SPOKANE, Wash., Oct. 28, 2024 (GLOBE NEWSWIRE) -- The Q’emiln Park boat launch ramp on the Spokane River in Post Falls, Idaho, will be closed for the season beginning Monday, Nov. 11. The ramp, located upstream of Avista’s Post Falls Hydroelectric Development, is typically closed each year in mid-November due to weather conditions and dropping water levels. The boat launch must remain closed for safety reasons for much of the fall through spring. Generally, the ramp re-opens in the late spring or early summ ...

Core Viewpoint - The analysis compares Avista (AVA) and Consolidated Edison (ED) to determine which stock offers better value for investors, highlighting AVA's stronger earnings estimate revisions and overall valuation metrics [1]. Group 1: Zacks Rank and Earnings Outlook - Avista (AVA) has a Zacks Rank of 2 (Buy), indicating a favorable earnings estimate revision trend, while Consolidated Edison (ED) has a Zacks Rank of 3 (Hold) [1]. - The improving analyst outlook for AVA suggests a more positive earnings forecast compared to ED [1]. Group 2: Valuation Metrics - AVA has a forward P/E ratio of 15.99, significantly lower than ED's forward P/E of 20.25, indicating that AVA may be undervalued [2]. - The PEG ratio for AVA is 3.32, while ED's PEG ratio is 3.63, suggesting that AVA offers better value relative to its expected earnings growth [2]. - AVA's P/B ratio is 1.19, compared to ED's P/B ratio of 1.72, further supporting the notion that AVA is more attractively priced [2]. Group 3: Overall Value Assessment - Based on the valuation metrics, AVA has earned a Value grade of B, while ED has a Value grade of C, indicating that AVA is currently the superior value option [3]. - The combination of AVA's improving earnings outlook and favorable valuation metrics positions it as a more attractive investment choice compared to ED [3].