From GlobeNewswire: 2024-05-01 07:05:00

Avista Corp. reported first quarter earnings per diluted share of $0.91, meeting expectations. The company confirms its earnings guidance of $2.36 to $2.56 per diluted share for the year. CEO Dennis Vermillion expressed satisfaction with the results and highlighted the impact of the Energy Recovery Mechanism on earnings. Various segments contributed to the net income, with Avista Utilities leading the way. The extreme cold in the Pacific Northwest underscored the need for additional capacity in the region, affecting operations. AEL&P also performed in line with expectations with positive results. Non-GAAP financial measures were presented to enhance understanding of operating performance, with electric and natural gas utility margin being key focus areas. Avista continues to focus on liquidity and capital resources, closing long-term debt deals and investing in capital expenditures for future growth and development of services. The company confirmed its 2024 earnings guidance with a consolidated range and expects long-term earnings growth with various factors taken into account. The company will host a conference call to discuss these results in more detail.



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