Avista Q3 EPS $0.23 vs $0.19; lowers FY2024 guidance to $2.26-$2.46 on weaker other biz valuations

AVISTA CORP

2024-Q3 EPS reported $1.44 revenue$1,405,230,000

Q3 net income $18.5M ($0.23/diluted share) vs $14.7M ($0.19) a year ago; Avista Utilities net income improved to $19.8M from $13.5M.
FY2024 consolidated EPS guidance lowered by $0.10 to $2.26-$2.46, driven by lower-than-expected private equity valuations in other businesses.
Expects to be at low end of Avista Utilities guidance range due to higher power supply, medical, bad debt costs, and ongoing legal expenses.
Regulatory: expects constructive WA general rate order mid-Dec; filed OR rate case; plans ID rate case early 2025.
Signed non-binding MOU to join North Plains Connector transmission line (ND to MT) to improve reliability and support demand growth.

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