Avista Q2 adjusted EPS beats estimates on lower fuel costs

Avista

03/08/2026 12:13

Overview
U.S. energy utility's Q2 adjusted EPS was flat yr/yr but beat analyst expectations
GAAP net income and EPS rose, driven by investment gains at non-regulated businesses
Company reaffirmed 2026 non-GAAP utility earnings guidance

Outlook
Avista confirms 2026 non-GAAP utility earnings guidance of $2.52-$2.72 per diluted share
Company expects 2026 base capital expenditures of $615 mln
Avista expects long-term non-GAAP utility earnings growth of 4-6% from 2025 guidance midpoint

Result Drivers
REVENUE DECLINES - Co said lower electric revenues were due to decreased wholesale revenues, removal of Colstrip cost recovery, and lower industrial sales after a large customer left
LOWER RESOURCE COSTS - Decreased electric and natural gas resource costs helped offset revenue declines, mainly due to lower fuel costs and reduced purchased volumes
HIGHER OPERATING EXPENSES - Other operating expenses rose, mainly from increased employee salaries and benefits, partly offset by removal of Colstrip related costs

Company press release: ID:nGNX569KgZ

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Adjusted EPS
Beat
$0.29
$0.24 (4 Analysts)
Q2 EPS
 
$0.43
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 5 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the multiline utilities peer group is "buy."
Wall Street's median 12-month price target for Avista Corp is $41.00, about 1.4% above its July 31 closing price of $40.45
The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 16 three months ago

Reuters Recommended Reads
July 31 - Dominion Energy Q2 operating EPS beats on growth in Virginia segment 
July 31 - Top US data center-serving utility Dominion tops profit estimates
July 31 - Enbridge beats second-quarter profit estimates on higher Mainline volumes

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)