Avista (AVA) Q2 2025 Earnings
Reported Aug 5, 2025 at 7:50 PM ET · SEC Source
Q2 25 EPS
$0.17
MISS 44.26%
Est. $0.31
Q2 25 Revenue
$400.0M
MISS 2.77%
Est. $411.4M
vs S&P Since Q2 25
-5.4%
TRAILING MARKET
AVA +12.3% vs S&P +17.7%
Market Reaction
Did AVA Beat Earnings? Q2 2025 Results
Avista delivered a disappointing second quarter, posting earnings per diluted share of $0.17 against a consensus estimate of $0.30, a miss of 44.26% that underscored just how sharply investment losses can distort an otherwise solid utility operation.… Read more Avista delivered a disappointing second quarter, posting earnings per diluted share of $0.17 against a consensus estimate of $0.30, a miss of 44.26% that underscored just how sharply investment losses can distort an otherwise solid utility operation. Revenue came in at $400.00 million, falling 2.77% below the $411.41 million analysts had expected and edging down 0.5% from the year-ago period. The culprit was a $10.00 million loss in the company's non-reportable segment, driven by unrealized losses on clean technology investments whose valuations were pressured by shifting public policy sentiment, pulling consolidated net income down to $14.00 million from $23.00 million in Q2 2024. Underneath that noise, the core Avista Utilities segment contributed $23.00 million in quarterly net income, supported by rate case outcomes, customer growth, and expanding electric and gas margins. Looking ahead, management confirmed 2025 consolidated guidance of $2.52 to $2.72 per diluted share but flagged the low end as the likely landing zone given the $0.15 per share in investment losses already absorbed in the first half, while noting Avista Utilities itself should track toward the upper end of its $2.43 to $2.61 per share range, offering some reassurance to income-focused investors drawn to the company's consistent dividend profile.
Key Takeaways
- • General rate case outcomes in Washington, Oregon, and Idaho driving electric and natural gas utility margin increases
- • Customer growth contributing to higher electric and natural gas utility margins
- • Non-decoupled load growth supporting electric utility margin
- • Unrealized losses on clean technology investments due to shifting public policy and sentiment negatively impacting consolidated results
- • Higher employee salaries and benefit costs and thermal generation costs increasing operating expenses
- • Increased depreciation and amortization from utility plant additions
- • Higher effective tax rate of 12.3% vs. 2.9% due to wind-down of tax customer credits
AVA YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
AVA Revenue by Segment
With YoY comparisons, source: SEC Filings
“Our year-to-date results underscore the strength of our core utility operations. We are disappointed by the lower valuations in our investment portfolio during the second quarter, primarily related to our clean technology investments. The value of these investments was negatively impacted by shifting public policy and sentiment.”
— Heather Rosentrater, Q2 2025 Earnings Press Release
AVA Earnings Trends
AVA vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
AVA EPS Trend
Earnings per share: estimate vs actual
AVA Revenue Trend
Quarterly revenue: estimate vs actual
AVA Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 25 MISS FY | $1.02 | $0.87 | -15.04% | $518.0M | -4.27% |
| FY Full Year | $2.51 | $2.38 | -5.12% | $1.92B | -3.32% |
| Q3 25 BEAT | $0.28 | $0.36 | +27.43% | $398.0M | -4.72% |
| Q2 25 MISS | $0.31 | $0.17 | -44.26% | $400.0M | -2.77% |
| Q1 25 MISS | $1.03 | $0.98 | -5.08% | $603.0M | -4.57% |