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Avista

Avista (AVA) Q1 2025 Earnings

Reported May 6, 2025 at 6:30 PM ET · SEC Source

Q1 25 EPS

$0.98

MISS 5.08%

Est. $1.03

Q1 25 Revenue

$603.0M

MISS 4.57%

Est. $631.8M

vs S&P Since Q1 25

-33.7%

TRAILING MARKET

AVA -0.9% vs S&P +32.7%

Market Reaction

Did AVA Beat Earnings? Q1 2025 Results

Avista fell short of Wall Street expectations in the first quarter of 2025, posting earnings of $0.98 per diluted share against a consensus estimate of $1.03, a miss of 5.08%, while revenue of $603.00 million trailed the $631.85 million estimate by 4… Read more Avista fell short of Wall Street expectations in the first quarter of 2025, posting earnings of $0.98 per diluted share against a consensus estimate of $1.03, a miss of 5.08%, while revenue of $603.00 million trailed the $631.85 million estimate by 4.57% and edged down 1.0% year over year. The headline shortfall obscured genuine underlying improvement, however, as consolidated net income rose to $79.00 million from $71.00 million in Q1 2024, with the Avista Utilities segment leading the way by generating $78.00 million in net income on the strength of higher electric and natural gas utility margins driven by general rate case outcomes and customer growth. A sharply higher effective tax rate, climbing to 13.2% from just 3.1% a year ago as customer tax credits were largely returned, weighed on reported results. Looking ahead, management reaffirmed full-year 2025 consolidated EPS guidance of $2.52 to $2.72 per diluted share and outlined nearly $3.00 billion in capital expenditures through 2029, supporting an expected long-term earnings growth rate of 4% to 6%.

Key Takeaways

  • • General rate case effects driving higher electric and natural gas utility margins
  • • Customer growth contributing to increased utility revenues
  • • Higher effective tax rate (13.2% vs. 3.1%) due to most tax customer credits having been returned to customers
  • • Increased employee salaries, benefit costs, and thermal generation costs raising operating expenses
  • • Higher net investment losses in non-reportable segment from changes in fair value of portfolio investments
24/7 Wall St

AVA YoY Financials

Q1 2025 vs Q1 2024, source: SEC Filings

24/7 Wall St

AVA Revenue by Segment

With YoY comparisons, source: SEC Filings

Q1 25 Q4 25

“Strong results at Avista Utilities reflect solid execution of our business plan in the first quarter. Wildfire risk mitigation activities also advanced significantly in April, as bills passed in both Washington and Idaho providing for approval of wildfire mitigation plans, and, in Washington, providing the opportunity to securitize costs associated with disasters such as wildfire. These bills represent an important step forward in addressing risks associated with wildfire and demonstrate the legislature's recognition of wildfire as a critical issue.”

— Heather Rosentrater, Q1 2025 Earnings Press Release

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