NYSE$AVA
Avista Corporation · Q3 2021 earnings
Q3 2021 earnings · · Investor relations
Briefing
Reported net income for the third quarter of 2021 and confirmed 2021 and 2023 consolidated guidance, while lowering 2022 consolidated guidance.
Avista Corp. reported a net income of $14.4 million, or $0.20 per diluted share, for the third quarter of 2021, compared to $4.9 million, or $0.07 per diluted share, for the third quarter of 2020. The company confirmed its consolidated earnings guidance for 2021 and 2023 but lowered the consolidated guidance for 2022.
- Net income for Q3 2021 was $14.4 million, or $0.20 per diluted share, up from $4.9 million, or $0.07 per diluted share, in Q3 2020.
- Avista Utilities' earnings were above expectations for the third quarter, mainly due to the timing of recognition of income taxes.
- AEL&P's earnings are on track to meet the full-year guidance.
- Consolidated earnings guidance for 2021 is confirmed at $1.96 to $2.16 per diluted share, and for 2023 at $2.42 to $2.62 per diluted share.
Headline financials
Revenue & EPS history
Avista · Revenue · Quarterly
$296M
Forward guidance
Avista Corp. confirmed its 2021 consolidated earnings guidance with a range of $1.96 to $2.16 per diluted share. The company lowered its 2022 consolidated earnings guidance by $0.10 per dilutive share to a range of $1.93 to $2.13 per diluted share and confirmed its 2023 consolidated earnings guidance with a range of $2.42 to $2.62 per diluted share.
Tailwinds
- Timely and appropriate rate relief in our jurisdictions.
- Avista Utilities is expected to contribute in the range of $1.83 to $1.97 per diluted share for 2021.
- Expect to be above the top end of the range of $0.05 to $0.08 per diluted share for the other businesses.
- For 2021, AEL&P is expected to contribute in the range of $0.08 to $0.11 per diluted share.
- Next Washington general rate cases will be a multiyear rate plan as required under a new law, and will seek to include in rates all capital investment and projected increased operating costs in order to earn our allowed return by 2023.
Headwinds
- Impact of the ERM in 2021, we expect to be near the bottom end of the range for Avista Utilities.
- Current expectation for the ERM is a surcharge position within the 90 percent customer/10 percent Company sharing band, which is expected to decrease earnings by $0.09 per diluted share.
- Guidance assumes, among other things, timely and appropriate rate relief in our jurisdictions.
- Our outlook assumes, among other variables, normal precipitation, temperatures, and other operating conditions.
- Guidance does not include the effect of unusual or non-recurring items until the effects are known and certain.
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 Q3 2021
-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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