GlobeNewswire·Aug 3, 2026, 7:05 AM ET

Avista Corp. Reports Q2 2026 Financial Results, Confirms 2026 Utility Earnings Guidance

AVA

Avista Corp. reported GAAP net income of $35 million ($0.43 per share) for the second quarter of 2026 and $127 million ($1.54 per share) for the six months ended June 30, 2026.
Non-GAAP utility earnings were $23 million ($0.29 per share) for the second quarter of 2026 and $114 million ($1.38 per share) for the year-to-date period.
GAAP earnings increased primarily due to net investment gains in non-regulated businesses, contrasting with net investment losses in the same periods of 2025.
Year-to-date electric revenues declined due to lower wholesale revenues, the removal of Colstrip cost recovery revenues, and decreased industrial sales volumes.
Natural gas revenues decreased year-to-date due to purchased gas adjustments and Climate Commitment Act-related revenues, which were offset by corresponding decreases in natural gas resource costs.
Electric resource costs decreased due to lower fuel costs and reduced Energy Recovery Mechanism expenses, while other operating expenses rose primarily due to higher employee salaries.
Avista confirmed its 2026 non-GAAP utility earnings guidance range of $2.52 to $2.72 per diluted share.
The company expects to issue up to $90 million of common stock and $230 million of long-term debt during 2026, while evaluating an additional $100 million in short-term liquidity needs.
Avista Utilities' capital expenditures totaled $314 million in the first half of 2026, with expected base expenditures of $615 million for the full year 2026.
An underlying investment held by a fund in which Avista participates completed an IPO in June 2026, resulting in an estimated $17 million fair value increase to be recognized in the third quarter.
The effective tax rate for the first half of 2026 was 12%, compared to 14% in the same period of 2025.
Avista expects long-term non-GAAP utility earnings growth of 4% to 6% from the midpoint of its 2025 earnings guidance.