Avista Q1 net income $54.8M, EPS $0.73 down from $0.99; CFO Thies retiring, Christie named

AVISTA CORP

2023-Q1 EPS reported $0.73 revenue$474,631,000

Q1 2023 net income $54.8M ($0.73/diluted) vs $71.6M ($0.99/diluted) in Q1 2022.
Avista Utilities segment net income fell to $51.6M; $7.6M pre-tax expense under WA ERM from higher power costs.
Full-year 2023 earnings guidance reaffirmed at $2.27-$2.47 per diluted share.
CFO Mark Thies to retire Oct 1, 2023; Kevin Christie appointed CFO/Treasurer/SVP Regulatory Affairs effective May 11, 2023.
Latisha Hill promoted to VP Community Affairs and Chief Customer Officer.

item 2.02 item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Mark Thies

Executive Vice President, Chief Financial Officer, and Treasurer

AVA · AVISTA CORP

Effective: 2023-10-01
Successor: Kevin Christie
Filed: May 3, 2023, 7:59 PM ET

On May 1, 2023, Mark Thies, Executive Vice President, Chief Financial Officer, and Treasurer, announced to the Company's board of directors that he will retire, effective October 1, 2023.

Appointed

Kevin Christie

Chief Financial Officer, Treasurer, and Senior Vice President Regulatory Affairs

AVA · AVISTA CORP

Effective: 2023-05-11
Filed: May 3, 2023, 7:59 PM ET

Following the announcement, the Company's board of directors appointed Kevin Christie as Chief Financial Officer, Treasurer, and Senior Vice President Regulatory Affairs, effective May 11, 2023.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

AVISTA CORP reported first quarter of 2023, first quarter of 2022 results: net income $54.8 million, $71.6 million, EPS $0.73 per diluted share, $0.99 per diluted share. Guidance reaffirmed.

Period: first quarter of 2023, first quarter of 2022
Net income: $54.8 million, $71.6 million
EPS: $0.73 per diluted share, $0.99 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Avista Corp. ( NYSE: AVA ) today reported net income of $54.8 million, or earnings of $0.73 per diluted share, for the first quarter of 2023, compared to $71.6 million, or $0.99 per diluted share, for the first quarter of 2022.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Mark Thies departed as Executive Vice President, Chief Financial Officer, and Treasurer at AVISTA CORP.

Action: retire
Role: Executive Vice President, Chief Financial Officer, and Treasurer

Exact text from the filing

On May 1, 2023, Mark Thies, Executive Vice President, Chief Financial Officer, and Treasurer, announced to the Company's board of directors that he will retire, effective October 1, 2023.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Kevin Christie was appointed as Chief Financial Officer, Treasurer, and Senior Vice President Regulatory Affairs at AVISTA CORP.

Action: appointed
Role: Chief Financial Officer, Treasurer, and Senior Vice President Regulatory Affairs

Exact text from the filing

Following the announcement, the Company's board of directors appointed Kevin Christie as Chief Financial Officer, Treasurer, and Senior Vice President Regulatory Affairs, effective May 11, 2023.

View on SEC.gov

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AVISTA CORP filing history →

Source: SEC EDGAR

accession 0000950170-23-016820

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