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Avista Corporation - AVA STOCK NEWS

Welcome to our dedicated page for Avista Corporation news (Ticker: AVA), a resource for investors and traders seeking the latest updates and insights on Avista Corporation stock.

Avista Corporation (NYSE: AVA) is a prominent energy company headquartered in Spokane, Washington. The company is intricately involved in the production, transmission, and distribution of energy, serving a substantial customer base across the Pacific Northwest. Avista operates through two primary divisions: Avista Utilities and Alaska Electric Light and Power (AEL&P).

Avista Utilities serves approximately 416,000 electric customers and 381,000 natural gas customers over a 30,000-square-mile territory that includes eastern Washington, northern Idaho, and parts of southern and eastern Oregon. The division is also responsible for managing electric generation facilities located in Washington, Idaho, Oregon, and Montana.

Alaska Electric Light and Power is a wholly-owned subsidiary that provides electric services to around 18,000 customers in Juneau, Alaska. This division plays a crucial role in Avista's overall operations by catering to the energy needs of a unique and geographically distinct market.

Avista Corp. has a long-standing history of innovation, particularly in the renewable energy sector. Founded in 1889, the company has consistently focused on sustainable and ethical business practices. Recently, Avista was recognized for the fifth time by Ethisphere as one of the World's Most Ethical Companies in 2024.

In terms of corporate developments, Avista Corp. has been proactive in addressing the growing demand for energy and the challenges posed by climate change. In 2024, the company introduced a comprehensive 10-year Wildfire Resiliency Plan aimed at enhancing grid safety and reliability. This plan includes grid-hardening projects such as replacing wooden transmission poles with steel and installing fire-retardant wire mesh around the base of poles. Additionally, Avista has increased its vegetation management efforts to minimize the risk of fires caused by contact between trees and power lines.

Avista is also involved in several strategic partnerships and investments through its non-regulated subsidiary, Avista Development, Inc. Notably, Avista Development recently invested in Empower Grid Holdings—a merger of Exceleron Software and PayGo Utilities aimed at improving utility affordability and customer engagement during the energy transition.

Financially, Avista has shown resilience and adaptability. In 2024, the company issued $250 million in long-term debt and $112.3 million in common stock. Avista's liquidity remains strong, with significant available credit lines and planned capital expenditures focused on infrastructure and technology upgrades.

Looking ahead, Avista Corp. has initiated its 2024 earnings guidance with a consolidated range of $2.36 to $2.56 per diluted share. The company anticipates long-term earnings growth of 4 to 6 percent off a 2025 base year, contingent on constructive regulatory outcomes.

For more information about Avista, visit their website at www.avistacorp.com.

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Avista Corp. (NYSE: AVA) will discuss its second quarter 2024 results in a conference call and webcast on August 7, 2024, at 10:30 a.m. EDT. The earnings release will be issued at 7:05 a.m. EDT on the same day. Pre-registration is required via Avista's investor website. The webcast replay will be available for one year. Avista Corp. is involved in energy production, transmission, and distribution, servicing areas in eastern Washington, northern Idaho, and parts of Oregon, as well as Juneau, Alaska. Avista Utilities provides electric and natural gas services to over 800,000 customers.

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Exceleron Software and PayGo Utilities have merged to form Empower Grid Holdings (EGH), backed by Moore Strategic Ventures, Accurant International, and Avista Development. This merger aims to enhance affordability, engagement, choice, and revenue assurance for utilities in North America, Asia Pacific, and Latin America. Exceleron CEO Bob Crenshaw and PayGo CEO Jeff Weiser will serve as Co-CEOs. The combined entity will provide innovative solutions to over 75 utilities across 23 states, enhancing customer satisfaction and energy savings. The merger is seen as a strategic move to meet growing utility demands and customer expectations during the Energy Transition.

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Avista Foundation awarded over $184,000 in grants to 37 non-profit organizations in the first quarter of 2024, focusing on health and human services. In 2023, over $1.8 million was donated. Avista CEO emphasizes the importance of supporting communities for resilience and interconnectedness. The foundation has granted over $16 million since 2002.

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Avista is enhancing its wildfire mitigation plan by adding Public Safety Power Shutoffs (PSPS) in extreme weather conditions to protect public safety. The company has been implementing changes to its power line operations, such as Fire Safety Mode, to reduce the risk of fires. Avista has also committed to a 10-year Wildfire Resiliency Plan, completing grid hardening projects and increasing vegetation management.

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Avista Corp.'s board of directors declared a quarterly dividend of $0.475 per share on the company's common stock. The dividend is payable on June 14, 2024, to shareholders of record on May 23, 2024. The board considers various factors in determining the dividend level.

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Avista Corp. reported Q1 2024 financial results with earnings per diluted share of $0.91, meeting expectations. The company confirmed 2024 earnings guidance of $2.36 to $2.56 per diluted share. Avista CEO Dennis Vermillion expressed optimism despite challenges like the Energy Recovery Mechanism impact and extreme weather conditions. The company is focused on operational efficiency and future growth.

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Avista Corp. (AVA) will discuss first quarter 2024 results in a conference call on May 1, 2024. Avista is an energy company serving over 800,000 customers in the Pacific Northwest.
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Avista Corp. (NYSE: AVA) has been recognized as one of the 2024 World’s Most Ethical Companies by Ethisphere for the fifth consecutive year. Avista is among the 136 honorees across 20 countries and 44 industries, standing out in the Energy and Utilities sector. The company's commitment to integrity, trustworthiness, innovation, and collaboration has been acknowledged by Ethisphere. Avista's CEO, Dennis Vermillion, expressed pride in the recognition, highlighting the company's 135 years of service to the community. Ethisphere's Chief Strategy Officer, Erica Salmon Byrne, commended Avista for setting a standard of ethics and integrity in corporate citizenship. The rigorous assessment process, grounded in Ethisphere's Ethics Quotient®, emphasizes the importance of ethics, compliance, and governance practices in driving business performance.
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Avista Corp. (AVA) announced 2023 financial results with a significant improvement in Avista Utilities earnings. Earnings per diluted share stood at $2.24, and the 2024 guidance ranges from $2.36 to $2.56 per diluted share. The company reported net income growth and highlighted cost recovery and management benefits.
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Avista Corp. (AVA) has announced a quarterly dividend increase of $0.015 per share, reaching an annualized dividend of $1.90. The board of directors has raised the dividend for the twenty-second consecutive year, showing commitment to maximizing shareholder value. The dividend is payable on March 15, 2024, to shareholders of record as of February 23, 2024.
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FAQ

What services does Avista Corporation provide?

Avista Corporation provides electric and natural gas services to customers in Washington, Idaho, Oregon, and Alaska.

Where is Avista Corporation headquartered?

Avista Corporation is headquartered in Spokane, Washington.

How many customers does Avista Utilities serve?

Avista Utilities serves approximately 416,000 electric customers and 381,000 natural gas customers.

What areas are covered by Avista's service territory?

Avista's service territory covers 30,000 square miles in eastern Washington, northern Idaho, and parts of southern and eastern Oregon.

What recent projects has Avista undertaken?

Avista has initiated a 10-year Wildfire Resiliency Plan and is involved in grid-hardening projects, such as replacing wooden poles with steel and increasing vegetation management.

What is Avista's 2024 earnings guidance?

Avista's 2024 earnings guidance is in the range of $2.36 to $2.56 per diluted share.

What is the significance of Avista Development's recent investment?

Avista Development recently invested in Empower Grid Holdings, aiming to enhance utility affordability and customer engagement.

How has Avista been recognized for its business practices?

Avista was named one of the World's Most Ethical Companies by Ethisphere for the fifth time in 2024.

How can I access Avista's upcoming financial results webcast?

The webcast can be accessed through Avista’s website at investor.avistacorp.com, where you must pre-register to obtain call-in details.

What is the ticker symbol for Avista Corporation?

Avista Corporation is traded under the ticker symbol 'AVA' on the New York Stock Exchange.

Avista Corporation

NYSE:AVA

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2.87B
78.19M
0.88%
89.43%
3.58%
Hydroelectric Power Generation
Utilities
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United States of America
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