AVISTA CORP SEC 10-Q Report

Avista Corp, a prominent utility company operating in the Pacific Northwest and Alaska, has released its Form 10-Q report for the second quarter of 2025. The report provides a comprehensive overview of the company's financial performance and operational highlights for the three and six months ended June 30, 2025. This summary delves into the key financial metrics and business activities that have shaped Avista Corp's recent performance.

Financial Highlights

Avista Corp reported notable financial metrics for the second quarter of 2025:

• Total Operating Revenues: $411 million for the three months ended June 30, 2025, reflecting an increase from $402 million in the same period in 2024.
• Total Operating Revenues: $1,028 million for the six months ended June 30, 2025, up from $1,011 million in the same period in 2024.
• Income from Operations: $57 million for the three months ended June 30, 2025, compared to $55 million in the same period in 2024.
• Income from Operations: $182 million for the six months ended June 30, 2025, an increase from $155 million in the same period in 2024.
• Net Income and Comprehensive Income: $14 million for the three months ended June 30, 2025, down from $23 million in the same period in 2024.
• Net Income and Comprehensive Income: $93 million for the six months ended June 30, 2025, slightly down from $94 million in the same period in 2024.
• Basic Earnings per Common Share: $0.17 for the three months ended June 30, 2025, compared to $0.29 in the same period in 2024.
• Basic Earnings per Common Share: $1.15 for the six months ended June 30, 2025, compared to $1.20 in the same period in 2024.
• Diluted Earnings per Common Share: $0.17 for the three months ended June 30, 2025, compared to $0.29 in the same period in 2024.
• Diluted Earnings per Common Share: $1.15 for the six months ended June 30, 2025, compared to $1.20 in the same period in 2024.

Business Highlights

Avista Corp's operational performance and strategic initiatives for the second quarter of 2025 include:

• Revenue Segments: Avista Utilities reported revenue from contracts with customers of $330 million for the three months ended June 30, 2025, and $856 million for the six months ended June 30, 2025. AEL&P reported $11 million and $24 million for the same periods, respectively.
• Geographical Performance: Avista Utilities operates in the Pacific Northwest, providing electric and natural gas services in eastern Washington, northern Idaho, and parts of Oregon. AEL&P operates in Alaska, contributing to the company's overall utility revenue.
• Sales Units: Avista Utilities' electric operations reported retail revenue from residential, commercial, and industrial customers, with residential sales contributing $111 million for the three months ended June 30, 2025, and $276 million for the six months ended June 30, 2025.
• Sales Units: Natural gas operations for Avista Utilities reported retail revenue of $70 million for the three months ended June 30, 2025, and $268 million for the six months ended June 30, 2025.
• Future Outlook: The company plans to transfer its 15% ownership in Colstrip Units 3 and 4 to NorthWestern by December 31, 2025, which is expected to align with regulatory requirements and operational strategies.
• Operational Efficiency: The company continues to optimize its natural gas resources by engaging in market transactions to generate economic value, which includes purchasing and storing natural gas during lower-priced months and selling during higher-priced months.
• Regulatory Environment: Avista Corp. is subject to state regulation in Washington, Idaho, Montana, Oregon, and Alaska, and federal regulation primarily by the FERC, impacting its operational strategies and compliance requirements.

SEC Filing: AVISTA CORP [ AVA ] - 10-Q - Aug. 05, 2025