NYSE$AVA
Avista Corporation · Q3 2022 earnings
Q3 2022 earnings · · Investor relations
Briefing
Reported a net loss due to higher interest costs and increased operating expenses at Avista Utilities, partially offset by AEL&P meeting expectations.
Avista Corp. reported a net loss of $5.8 million for Q3 2022, compared to a net income of $14.4 million in Q3 2021. The decrease was primarily due to higher interest costs and increased operating expenses at Avista Utilities. The company lowered its 2022 and 2023 consolidated earnings guidance.
- Q3 2022 net loss was $5.8 million, or a loss of $0.08 per diluted share, compared to net income of $14.4 million, or earnings of $0.20 per diluted share, for Q3 2021.
- Avista Utilities' results were below expectations due to higher interest costs and increased operating expenses.
- AEL&P continued to meet expectations in 2022 and remains on track to meet full year guidance.
- 2022 consolidated earnings guidance lowered by $0.05 per diluted share to a range of $1.88 to $2.08 per diluted share.
Headline financials
Revenue & EPS history
Avista · Revenue · Quarterly
$359M
Forward guidance
Avista Corp lowered its 2022 consolidated earnings guidance by $0.05 per diluted share to a range of $1.88 to $2.08 per diluted share and also lowered its 2023 consolidated earnings guidance by $0.15 per diluted share to a range of $2.27 to $2.47 per diluted share.
Tailwinds
- Assumes timely and appropriate rate relief in all of our jurisdictions, including approval of the 2022 Washington general rate case settlement.
- AEL&P to contribute in the range of $0.08 to $0.10 per diluted share for each of 2022 and 2023.
- AEL&P's interim and refundable base rate increase of 4.5 percent associated with their 2022 general rate case was approved and became effective in September 2022.
- Continue to expect the other businesses to contribute in the range of $0.14 to $0.16 per diluted share in 2022, with increased net investment gains during the year.
- Expect our other businesses to contribute in the range of $0.04 to $0.06 per diluted share in 2023.
Headwinds
- Rising interest rates and operating costs.
- Expect increases in borrowing costs, pension expense, and depreciation.
- Avista Utilities to contribute in the range of $1.66 to $1.82 per diluted share for 2022, a decrease from the previous range of $1.71 to $1.87 per diluted share.
- 2022 forecast for the ERM is an expense position within the 90 percent customer/10 percent Company sharing band, which is expected to reduce earnings by $0.09 per diluted share.
- Expect a range of $2.15 to $2.31 per diluted share for 2023, a decrease from the previous range of $2.30 to $2.46 per diluted share.
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 2022
-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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