Consolidated earnings per diluted share of $2.29 for the full year of 2024Initiated consolidated guidance of $2.52 to $2.72 per share for 2025 SPOKANE, Wash., Feb. 26, 2025 (GLOBE NEWSWIRE) -- Avista Corp. (NYSE:AVA) today announced financial results for 2024. Net income and earnings per diluted share for the fourth quarter and the year ended Dec. 31, 2024 compared to the same periods in 2023 are presented in the table below (dollars in millions, except per-share data):  Fourth Quarter  Year-to-Date  2024   ...

Financial Performance - Consolidated net income for 2024 was $180 million, an increase from $171 million in 2023, with earnings per diluted share of $2.29 compared to $2.24 in the previous year[1][3] - Avista Utilities reported a net income of $179 million for 2024, up from $167 million in 2023, with earnings per diluted share increasing to $2.28 from $2.18[1][3] - The company initiated 2025 earnings guidance with a range of $2.52 to $2.72 per diluted share, reflecting expected growth[2][11] - The effective tax rate for 2024 was 1.5%, a significant change from -24.4% in 2023, primarily due to a decrease in tax customer credits[4][5] - The company anticipates earnings growth in the long term at a rate of 4-6% from the forecast 2025 base year[12] Capital Expenditures - Capital expenditures for Avista Utilities in 2024 were $510 million, with expectations of approximately $525 million in 2025 and nearly $3 billion over the five-year period ending in 2029[8][9] - AEL&P's capital expenditures were $23 million in 2024, with expectations of $12 million in 2025[8][9] - The company closed on the remarketing of $84 million of long-term debt and issued $68 million of common stock in 2024[6] - Avista expects to issue $120 million of long-term debt and up to $80 million of common stock in 2025[7] Operational Risks - The company faces utility regulatory risks that could impact cost recovery and reasonable returns due to potential disallowance or delays in capital investment recovery[21] - Operational risks include severe weather events and natural disasters that could disrupt energy generation and distribution, affecting both supply and demand[22] - Climate change risks are increasing, with more frequent severe weather potentially disrupting energy operations and affecting customer demand[24] - Cybersecurity risks are present, with potential cyberattacks on operational and administrative systems that could disrupt business operations and incur liabilities[25] Financial Risks - Financial risks include the ability to obtain financing and the impact of interest rate changes on borrowing costs, which could affect overall financial stability[30] - Energy commodity risks involve volatility in wholesale energy markets, which could impact operating income and cash requirements for purchasing electricity and natural gas[31] - Compliance risks arise from changes in laws and regulations that could materially affect electric and gas operations and associated costs[32] - Strategic risks include potential declines in the customer base due to new energy technologies and competition from alternative energy sources[27] - The company is also exposed to external mandates risk, including changes in environmental regulations that could impose additional costs[28] - The company acknowledges the potential for increased operational costs due to inflationary pressures and rising insurance costs[23]

Financial Performance - Avista Corporation reported a total revenue of $1.5 billion for the fiscal year, reflecting a 5% increase compared to the previous year[9]. - The company achieved a net income of $150 million, which is a 10% increase year-over-year[9]. - The company reported a 12% increase in net income for the last quarter, totaling $45 million, attributed to higher energy sales and cost management strategies[23]. - Avista's dividend payout ratio remains stable at 60%, with plans to increase dividends by 3% in the next fiscal year[24]. Customer Growth and Demand - Avista Utilities served approximately 400,000 customers, with a 3% growth in customer base over the last year[9]. - The company anticipates a 5% growth in customer demand for electricity in the upcoming fiscal year, driven by increased residential and commercial usage[14]. - Avista plans to expand its market presence in Oregon and Idaho, targeting a 20% increase in customer base over the next three years[20]. Capital Expenditures and Investments - The company plans to invest $300 million in capital expenditures for infrastructure improvements in the upcoming year[9]. - Avista's capital expenditures for the next year are projected to be approximately $300 million, focusing on infrastructure upgrades and renewable energy projects[15]. - The company has allocated $50 million for research and development of clean energy initiatives, aiming to reduce greenhouse gas emissions by 25% by 2025[21]. - The company has initiated a new technology development program aimed at enhancing grid reliability and efficiency, with an investment of $50 million over the next three years[9]. Renewable Energy and Environmental Goals - The company is focusing on renewable energy projects, with a target of increasing renewable energy capacity by 20% by 2025[9]. - Avista Corporation is committed to reducing greenhouse gas emissions by 30% by 2030, aligning with state regulatory requirements[9]. - The company is actively pursuing new technologies, including advancements in hydroelectric generation, which are expected to enhance efficiency by 15%[19]. Risks and Challenges - The company faces increasing risks from climate change, including severe weather events that could disrupt energy generation and distribution[19]. - Cybersecurity threats are a significant concern, with potential attacks on operational and administrative systems that could disrupt business operations and incur liabilities[21]. - The company anticipates rising costs due to inflationary pressures, impacting operating expenses and capital costs[27]. - Changes in environmental regulations may impose additional compliance costs and affect operational capabilities[27]. - The company is experiencing volatility in energy commodity markets, which could impact operating income and cash flow requirements[32]. - There is a risk of declining electricity and natural gas demand due to customer energy efficiency measures and increased distributed generation[27]. - The potential for increased competition from alternative energy sources and customer-owned power technologies poses a strategic risk[24]. - The company is facing regulatory challenges that could impact its ability to recover costs, particularly related to environmental compliance measures[25]. - The company must comply with the terms of licenses and permits for its hydroelectric or thermal generating facilities to maintain cost-effectiveness[32]. Operational Efficiency and Workforce - The company is monitoring workforce issues, including recruitment and retention challenges, which could impact operational efficiency[19]. - Future business development efforts may be influenced by changes in strategic plans and market conditions, creating uncertainty[24]. Liquidity and Financial Position - The company reported a strong liquidity position with cash and cash equivalents totaling $200 million as of the end of the fiscal year[9]. - The company is focused on maintaining liquidity and access to capital, which could be affected by credit ratings and market conditions[27]. Market Conditions and Compliance - The company faces volatility and illiquidity in wholesale energy markets, which can affect operating income and cash requirements for purchasing electricity and natural gas[32]. - Potential environmental regulations or lawsuits could impact the company's ability to utilize its power supply resources[32]. - Changes in laws and regulations at various government levels could materially impact the company's electric and gas operations[32]. - The company emphasizes the importance of historical operating trends and third-party information in forming expectations and projections, but acknowledges the inherent uncertainties and risks involved[30]. - The company files annual, quarterly, and current reports with the SEC, which are available on their website and the SEC's website[31].

Core Viewpoint - The comparison between Avista (AVA) and American Electric Power (AEP) indicates that AVA is currently more attractive to value investors due to its stronger earnings estimate revision activity and more favorable valuation metrics [3][7]. Valuation Metrics - AVA has a forward P/E ratio of 14.70, while AEP has a forward P/E of 16.94 [5]. - AVA's PEG ratio is 2.76, compared to AEP's PEG ratio of 2.82, indicating AVA's expected earnings growth is slightly more favorable [5]. - AVA's P/B ratio is 1.14, whereas AEP's P/B ratio is 1.98, suggesting AVA is undervalued relative to its book value [6]. Analyst Outlook - AVA currently holds a Zacks Rank of 1 (Strong Buy), while AEP has a Zacks Rank of 3 (Hold), reflecting a more positive analyst outlook for AVA [3]. - The stronger estimate revision activity for AVA supports its position as the superior option for value investors at this time [7]. Style Scores - AVA has earned a Value grade of B, while AEP has a Value grade of C, indicating that AVA is viewed more favorably in terms of value investing criteria [6].

Company’s filing seeks to recover infrastructure investments and expenses necessary to serve customersSPOKANE, Wash., Jan. 31, 2025 (GLOBE NEWSWIRE) -- Today, Avista (NYSE: AVA) has filed a multi-year rate plan with the Idaho Public Utilities Commission (IPUC or Commission) that would allow the Company to recover costs for fixed expenses and ongoing investments to infrastructure, technology and more. If approved, new rates would be effective in Sept. 2025 and Sept. 2026. “The cost of delivering safe and rel ...

Core Points - The Avista Foundation awarded $54,650 to 21 nonprofit organizations in the fourth quarter of 2024 to support environmental initiatives and arts and culture efforts [1] - In total, the foundation awarded $563,285 to 125 nonprofit organizations in 2024 as part of its competitive grant program [2] - The foundation's grants aim to create a meaningful impact across communities, fostering sustainability and cultural vitality [3] Grant Details - The fourth-quarter grants included various organizations such as: - APOD Productions Inc. (Idaho) - $1,000 - CDA Youth Orchestra (Idaho) - $500 - Community Band of the Palouse (Washington) - $2,000 - Feast Collective (Washington) - $4,000 - Friends of Scotchman Peaks Wilderness (Idaho) - $1,200 - Klamath Watershed Partnership (Oregon) - $5,000 - National Forest Foundation (Alaska) - $7,500 - Spokane Youth Symphony (Washington) - $2,500 - Other organizations received varying amounts [3] Foundation Overview - Since its establishment in 2002, the Avista Foundation has granted over $17 million, focusing on vulnerable populations, education, and cultural initiatives [4] - The foundation operates separately from Avista Utilities and does not receive funding through customer rates [5]

Company Overview - Avista Corp. is an energy company engaged in the production, transmission, and distribution of energy, along with other energy-related businesses [3] - Avista Utilities, a division of Avista, provides electric service to 418,000 customers and natural gas to 382,000 customers across a service territory of 30,000 square miles in eastern Washington, northern Idaho, and parts of southern and eastern Oregon, serving a population of 1.7 million [3] - The company also has a subsidiary, Alaska Energy and Resources Company, which provides retail electric service to 18,000 customers in Juneau, Alaska [3] Upcoming Events - Avista Corp. will hold its quarterly conference call and webcast to discuss fourth quarter 2024 results on February 26, 2025, at 10:30 a.m. Eastern Standard Time [1] - A news release with fourth quarter 2024 earnings information will be issued at 7:05 a.m. Eastern Standard Time on the same day [1] - Access to the call requires pre-registration via the Presentations and Events link on Avista's website, and a replay will be available for one year [2]

Dividend growth stocks aren't always the most exciting investments out there. They often aren't grabbing the headlines, and they aren'tFor some background on this monthly publication, here is my view on dividend growth stocks :Interested in more income ideas? Check out Cash Builder Opportunities, where we provide ideas about high-quality and reliable dividend growth ideas. These investments are designed to build growing income for investors. A special focus on investments that are leaders within their indus ...

In a world where explosive investment gains are profiled on major news outlets on a daily basis, many investors are tempted to shoot for the moon. Three decades and even more stock market cycles have taught us at 2nd Market Capital that it is the singles and doubles that drive long-term performance. With that in mind, we would like to discuss a particularly reliable investment: Avista Corporation (NYSE:AVA). Avista is a small electric and gas utility operating in the northwestern U.S. Like most utilities, i ...

Will issue Request for Proposals (RFP) to ensure reliable service in the futureSPOKANE, Wash., Jan. 02, 2025 (GLOBE NEWSWIRE) -- Avista Utilities, an operating division of Avista Corp. (NYSE: AVA), has filed its 2025 Electric Integrated Resource Plan (IRP) with the Washington Utilities and Transportation Commission and the Idaho Public Utilities Commission. Avista produces an electric IRP every two years detailing projected growth in electricity demand and the new resources needed to serve customers over th ...