Avista US Stock Price, News & Analysis

Avista Corp. (NYSE: AVA) has declared a quarterly dividend of $0.4225 per share on its common stock, payable on Dec. 15, 2021, to shareholders of record as of the close of business on Nov. 19, 2021. The board of directors decides on dividends based on financial results, business strategies, and market conditions. Avista operates in energy production, transmission, and distribution, serving 403,000 electric and 369,000 natural gas customers across a service area of 30,000 square miles.

Avista Corp. reported a net income of $14.4 million, or $0.20 per diluted share, for Q3 2021, up from $4.9 million, or $0.07 per diluted share in Q3 2020. Year-to-date, net income reached $96.5 million, or $1.38 per share, compared to $70.8 million, or $1.04 in 2020. The company confirmed its earnings guidance for 2021 at $1.96 to $2.16 per share but lowered its 2022 guidance by $0.10 to $1.93 to $2.13 per share, citing increased operating costs. Avista Utilities' earnings exceeded expectations largely due to tax timing.

Avista Corp. (NYSE: AVA) will conduct its quarterly conference call on November 3, 2021, at 10:30 a.m. EDT to discuss third quarter 2021 results. A news release with earnings data will be issued at 7:05 a.m. EDT on the same day.

To access the call, visit investor.avistacorp.com or dial (855) 806-8606, using confirmation number 5499812. A replay will be available until November 10, 2021. Avista provides electric and natural gas service to over 771,000 customers across the Pacific Northwest.

Avista Corp. (NYSE: AVA) filed its first Clean Energy Implementation Plan (CEIP) with the Washington Utilities and Transportation Commission, making it the first utility in Washington to do so. The CEIP outlines the company's roadmap for achieving greenhouse gas neutrality by 2030 and 100% renewable energy by 2045. Key highlights include plans to meet 80% of Washington customer demand with renewable energy by 2022, selling renewable energy credits to reduce customer rates by 1% annually, and investing $5 million annually in disadvantaged communities. Full details are accessible on Avista's website.

Avista (NYSE: AVA) announces that as of October 1, 2021, there will be no rate change for customers following a settlement with the Washington Utilities and Transportation Commission (UTC). The UTC approved base revenue increases of $13.6 million for electric operations and $8.1 million for natural gas operations, offset by tax customer credits. The company’s rate of return on rate base is set at 7.12%, with a 9.4% return on equity. Avista aims to continue enhancing infrastructure without impacting customer bills immediately, despite some expenses not being approved for recovery.

Avista has filed two annual rate adjustments with the Washington Utilities and Transportation Commission, effective Nov. 1, 2021. One adjustment aims to decrease electric rates by approximately $0.8 million (0.1%), benefiting residential and small farm customers through the Bonneville Power Administration's Residential Exchange Program. Conversely, the second adjustment seeks to increase natural gas revenues by about $17.5 million (10.6%) due to rising wholesale natural gas costs. These changes will not impact the company's earnings.

Avista Corp. (NYSE: AVA) announced the appointment of Major General (Retired) Julie Bentz to its board of directors, effective November 1, 2021. Bentz, a 33-year veteran of military service, has held key roles in the White House and the Department of Defense. She will serve on the Environmental, Technology and Operations Committee, and the Finance Committee. Bentz fills the vacancy left by R. John Taylor, who retired after 36 years on the board. Avista's President and CEO highlighted Bentz's leadership skills and strategic vision as vital for the company's future.

Avista Corp. (NYSE: AVA) has declared a quarterly dividend of $0.4225 per share on common stock, payable on Sept. 15, 2021, to shareholders recorded by Aug. 19, 2021. The board reviews dividends regularly considering financial results, business strategies, and market conditions. Avista is involved in energy production, transmission, and distribution, serving 402,000 electric and 369,000 natural gas customers across eastern Washington, northern Idaho, and parts of Oregon, alongside operations in Juneau, Alaska.

Avista Corp. reported a net income of $14.1 million for Q2 2021, or $0.20 per diluted share, down from $17.5 million or $0.26 in Q2 2020. Year-to-date, net income rose to $82.1 million from $65.9 million. The decline in Q2 earnings was attributed to increased power supply costs and lower hydroelectric generation amid extreme heat. The company confirmed its 2021 earnings guidance of $1.96 to $2.16 per diluted share, but lowered the 2022 guidance by $0.15 per diluted share due to rising costs and regulatory lag.