- Avista press release ( NYSE: AVA ): Q3 GAAP EPS of -$0.08 misses by $0.22 .
- Revenue of $349.65M (+21.9% Y/Y) beats by $39.42M .
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2022 and 2023 Earnings Guidance and Outlook:
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Avista Corp. is lowering its 2022 consolidated earnings guidance by $0.05 per diluted share to a range of $1.88 to $2.08 per diluted share. We are also lowering our 2023 consolidated earnings guidance by $0.15 per diluted share to a range of $2.27 to $2.47 per diluted share. Our guidance assumes timely and appropriate rate relief in all of our jurisdictions, including approval of the 2022 Washington general rate case settlement.
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We expect 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. Our 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. We 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.
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We expect 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.
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We 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. In 2023, we expect our other businesses to contribute in the range of $0.04 to $0.06 per diluted share.
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Avista GAAP EPS of -$0.08 misses by $0.22, revenue of $349.65M beats by $39.42M