NYSE$AVA
Avista Corporation · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Reported net income for the first quarter of 2023, confirming 2023 guidance.
Avista Corp. reported a solid start to 2023 with net income of $54.8 million, or $0.73 per diluted share, slightly ahead of expectations. The company confirms its 2023 consolidated earnings guidance with a range of $2.27 to $2.47 per diluted share.
- Net income was $54.8 million, or $0.73 per diluted share, for the first quarter of 2023.
- This compares to $71.6 million, or $0.99 per diluted share, for the first quarter of 2022.
- The company absorbed $7.6 million in pre-tax costs under the Energy Recovery Mechanism in Washington.
- 2023 consolidated earnings guidance is confirmed with a range of $2.27 to $2.47 per diluted share.
Headline financials
Revenue & EPS history
Avista · Revenue · Quarterly
$475M
Forward guidance
Avista Corp. confirms its 2023 consolidated earnings guidance with a range of $2.27 to $2.47 per diluted share.
Tailwinds
- Timely and appropriate rate relief in all jurisdictions is assumed.
- Avista Utilities is expected to contribute in the range of $2.15 to $2.31 per diluted share for 2023.
- Expect to be in the deadband of the ERM, with an expected increase to earnings of $0.03 per diluted share.
- Customer tax credits will be fully returned to customers by the end of the third quarter of 2023 and will no longer reduce both customer bills and income tax expense.
- AEL&P is expected to contribute in the range of $0.08 to $0.10 per diluted share.
Headwinds
- Income tax is spread throughout the year as a percentage of pre-tax income based on the estimated annual effective tax rate, changing the shape of our quarterly earnings as compared to recent years.
- First quarter earnings represent 35 percent of our forecast annual utility earnings.
- Distribution of the remaining annual utility earnings to be 5 percent in the second quarter, 10 percent in the third quarter, and 50 percent in the fourth quarter.
- ERM decreased earnings $0.08 per diluted share in the first quarter.
- Outlook for Avista Utilities and AEL&P assumes, among other variables, normal precipitation, temperatures, hydroelectric generation, and other operating conditions.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
-0.0%
Avg return
Earnings day
+0.2%
Avg return
5 days after
-0.3%
Avg return
30 days after
52%
35 / 67 earnings
Positive
+8.4%
Q3 2023
Best reaction
-10.1%
Q3 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | -4.6% | -6.4% | -6.4% | |
| Q3 2025 | +2.6% | +6.3% | +0.1% | |
| Q2 2025 | -4.2% | -2.3% | -3.6% | |
| Q1 2025 | -1.7% | -6.1% | -10.7% | |
| Q4 2024 | +3.3% | +3.3% | +6.1% | |
| Q3 2024 | -1.8% | +1.9% | +0.1% | |
| Q1 2024 | +2.3% | +3.9% | +2.8% | |
| Q4 2023 | +0.1% | -2.1% | -0.8% | |
| Q3 2023 | +8.4% | +10.3% | +10.2% | |
| Q2 2023 | +0.6% | -1.2% | -11.1% | |
| Q1 2023 | +1.4% | +1.7% | -4.7% | |
| Q4 2022 | +2.5% | +1.7% | +1.1% | |
| Q3 2022 | -10.1% | -9.5% | +0.9% | |
| Q2 2022 | +0.1% | -1.0% | -5.4% | |
| Q1 2022 | +1.8% | +5.6% | +7.2% | |
| Q4 2021 | +2.1% | +5.0% | +5.5% | |
| Q3 2021 | -1.0% | -0.8% | -2.1% | |
| Q2 2021 | -2.5% | -4.2% | -4.1% | |
| Q1 2021 | +2.4% | +2.8% | -2.9% | |
| Q4 2020 | +4.6% | +2.5% | +24.3% | |
| Q3 2020 | -3.1% | +3.0% | +7.3% | |
| Q2 2020 | -0.1% | +3.1% | +0.4% | |
| Q1 2020 | -1.5% | -9.4% | -1.1% | |
| Q4 2019 | -1.0% | +1.2% | -16.6% | |
| Q3 2019 | -1.3% | -2.3% | -0.0% | |
| Q2 2019 | +2.5% | +2.2% | +4.6% | |
| Q1 2019 | +3.1% | +2.6% | -1.2% | |
| Q4 2018 | -1.3% | -1.2% | -1.0% | |
| Q3 2018 | +0.8% | +0.8% | -15.6% | |
| Q2 2018 | -0.1% | +0.5% | +1.4% | |
| Q1 2018 | -0.4% | -0.3% | +0.8% | |
| Q4 2017 | -1.0% | -1.6% | +3.5% | |
| Q3 2017 | -0.6% | -0.8% | -0.6% | |
| Q2 2017 | -1.0% | -0.7% | -2.3% | |
| Q1 2017 | +2.0% | +3.5% | +9.3% | |
| Q4 2016 | -0.5% | +1.0% | +0.8% | |
| Q3 2016 | -3.6% | -3.3% | -3.0% | |
| Q2 2016 | -0.9% | -2.3% | -4.8% | |
| Q1 2016 | +1.6% | — | — | |
| Q4 2015 | +4.1% | — | — | |
| Q3 2015 | +2.6% | — | — | |
| Q2 2015 | +0.7% | — | — | |
| Q1 2015 | -1.2% | — | — | |
| Q4 2014 | -1.5% | — | — | |
| Q3 2014 | -1.8% | — | — | |
| Q2 2014 | +0.1% | — | — | |
| Q1 2014 | +3.6% | — | — | |
| Q4 2013 | -0.5% | — | — | |
| Q3 2013 | +0.2% | — | — | |
| Q2 2013 | +2.2% | — | — | |
| Q1 2013 | +1.5% | — | — | |
| Q4 2012 | -2.0% | — | — | |
| Q3 2012 | -2.1% | — | — | |
| Q2 2012 | -4.5% | — | — | |
| Q1 2012 | -2.5% | — | — | |
| Q4 2011 | -0.6% | — | — | |
| Q3 2011 | -1.4% | — | — | |
| Q2 2011 | -9.6% | — | — | |
| Q1 2010 | +3.5% | — | — | |
| Q1 2011 | +1.6% | — | — | |
| Q4 2008 | +1.0% | — | — | |
| Q4 2010 | +1.0% | — | — | |
| Q3 2010 | +0.0% | — | — | |
| Q3 2009 | +0.0% | — | — | |
| Q2 2009 | +0.9% | — | — | |
| Q4 2009 | +0.9% | — | — | |
| Q2 2010 | +0.9% | — | — |
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