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SPOKANE, Wash. - Avista Corp . (NYSE:AVA) reported fourth quarter earnings that missed analyst expectations, but shares rose 4.1% after the utility company provided an upbeat outlook for 2025.
Avista posted fourth quarter earnings per share of $0.84, falling short of the $0.89 consensus estimate. However, the company initiated 2025 earnings guidance of $2.52 to $2.72 per share, above analyst projections of $2.52.
For the full year 2024, Avista reported earnings of $2.29 per diluted share, up from $2.24 in 2023. Annual revenue increased to $1.89 billion from $1.70 billion YoY.
"I’m proud of our performance in 2024. Our utility operations led continued improvement in our consolidated earnings, even with the headwinds we experienced from higher power supply and operating costs during the year," said Avista President and CEO Heather Rosentrater.
The company said it made significant progress with its regulatory strategy in 2024, including constructive outcomes in Washington general rate cases. Avista expects continued regulatory execution in Oregon and Idaho in 2025.
Capital expenditures at Avista Utilities totaled $510 million in 2024. The company forecasts capital spending of about $525 million in 2025 and nearly $3 billion over the five-year period through 2029.
Avista’s stock rose 4.1% following the earnings release and 2025 guidance, suggesting investors reacted positively to the company’s outlook despite the fourth quarter earnings miss.
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