GlobeNewswire·May 5, 2026, 7:05 AM ET

Avista Corp. Reports Q1 2026 Financial Results, Confirms 2026 Utility Earnings Guidance

AVA

Avista Corp. reported Q1 2026 GAAP net income of $92 million ($1.11 per diluted share), up from $79 million ($0.98 per share) in Q1 2025.
Non-GAAP utility earnings for Q1 2026 were $91 million ($1.10 per diluted share), compared to $82 million ($1.01 per share) in the prior year period.
The company confirmed its 2026 non-GAAP utility earnings guidance range of $2.52 to $2.72 per diluted share.
GAAP income growth was driven by increased utility margins from general rate cases & net investment gains in other businesses.
Electric utility margin decreased by $2 million due to the removal of Colstrip cost recovery revenues & a $1 million Energy Recovery Mechanism expense.
Natural gas utility margin increased by $4 million primarily from the effects of general rate cases.
Depreciation & amortization decreased by $3 million primarily due to the 2026 exit from Colstrip.
Non-regulated other business income improved to a $1 million gain in Q1 2026 from a $3 million loss in Q1 2025 due to net investment gains.
Available liquidity as of March 31, 2026, totaled $156 million ($110 million under committed credit lines & $46 million under letter of credit facilities).
The company expects to issue up to $90 million in common stock & $230 million in long-term debt during 2026.
Q1 2026 capital expenditures for Avista Utilities were $147 million.
Expected base capital expenditures through 2030 are projected to range from $615 million in 2026 to $800 million in 2028.
2026 earnings guidance assumptions include normal weather, an effective tax rate of 12%, & capital expenditures of $615 million.
Long-term non-GAAP utility earnings growth is expected to be 4% to 6% annually from the midpoint of 2025 guidance.
A conference call with analysts & investors is scheduled for May 5, 2026, at 10:30 a.m. ET.