Welcome to our dedicated page for Avista Corporation news (Ticker: AVA), a resource for investors and traders seeking the latest updates and insights on Avista Corporation stock.
Avista Corporation (NYSE: AVA) is a prominent energy company headquartered in Spokane, Washington. The company is intricately involved in the production, transmission, and distribution of energy, serving a substantial customer base across the Pacific Northwest. Avista operates through two primary divisions: Avista Utilities and Alaska Electric Light and Power (AEL&P).
Avista Utilities serves approximately 416,000 electric customers and 381,000 natural gas customers over a 30,000-square-mile territory that includes eastern Washington, northern Idaho, and parts of southern and eastern Oregon. The division is also responsible for managing electric generation facilities located in Washington, Idaho, Oregon, and Montana.
Alaska Electric Light and Power is a wholly-owned subsidiary that provides electric services to around 18,000 customers in Juneau, Alaska. This division plays a crucial role in Avista's overall operations by catering to the energy needs of a unique and geographically distinct market.
Avista Corp. has a long-standing history of innovation, particularly in the renewable energy sector. Founded in 1889, the company has consistently focused on sustainable and ethical business practices. Recently, Avista was recognized for the fifth time by Ethisphere as one of the World's Most Ethical Companies in 2024.
In terms of corporate developments, Avista Corp. has been proactive in addressing the growing demand for energy and the challenges posed by climate change. In 2024, the company introduced a comprehensive 10-year Wildfire Resiliency Plan aimed at enhancing grid safety and reliability. This plan includes grid-hardening projects such as replacing wooden transmission poles with steel and installing fire-retardant wire mesh around the base of poles. Additionally, Avista has increased its vegetation management efforts to minimize the risk of fires caused by contact between trees and power lines.
Avista is also involved in several strategic partnerships and investments through its non-regulated subsidiary, Avista Development, Inc. Notably, Avista Development recently invested in Empower Grid Holdings—a merger of Exceleron Software and PayGo Utilities aimed at improving utility affordability and customer engagement during the energy transition.
Financially, Avista has shown resilience and adaptability. In 2024, the company issued $250 million in long-term debt and $112.3 million in common stock. Avista's liquidity remains strong, with significant available credit lines and planned capital expenditures focused on infrastructure and technology upgrades.
Looking ahead, Avista Corp. has initiated its 2024 earnings guidance with a consolidated range of $2.36 to $2.56 per diluted share. The company anticipates long-term earnings growth of 4 to 6 percent off a 2025 base year, contingent on constructive regulatory outcomes.
For more information about Avista, visit their website at www.avistacorp.com.
Avista (NYSE: AVA) has launched its latest corporate responsibility disclosure initiative, presenting the 2021 corporate responsibility report and comprehensive ESG information on its website, avistacorp.com. The report outlines the company's commitments concerning the environment, people, customers, communities, and ethical governance. Avista's President and CEO, Dennis Vermillion, emphasized the importance of making ESG data accessible for all stakeholders. For further details, visit the corporate responsibility page.
Avista Corp. (NYSE: AVA) will hold its quarterly conference call on February 24, 2021, at 10:30 a.m. EST to discuss fourth quarter 2020 results. A news release with earnings will be issued at 7:05 a.m. EST on the same day. Interested parties can access the call via Avista's website or by dialing (855) 806-8606 with confirmation number 1075438. A replay will be available through March 3, 2021. Avista provides electric service to 397,000 customers and natural gas to 363,000 customers across a service territory of 30,000 square miles.
Avista Corp. (NYSE: AVA) has announced a quarterly dividend of $0.405 per share, payable on December 15, 2020, to shareholders on record by the end of business on December 3, 2020.
The board assesses dividends based on various factors, including financial performance and market conditions. Avista operates in energy production and distribution, serving approximately 397,000 electric and 363,000 natural gas customers across a 30,000 square mile territory.
Avista Corp. (NYSE: AVA) reported Q3 2020 net income of $4.9 million, or $0.07 per share, down from $5.1 million, or $0.08 per share in Q3 2019. Year-to-date net income was $70.8 million, or $1.04 per share, significantly lower than $146.2 million, or $2.21 per share in 2019. The decrease was driven by higher bad debt expenses due to COVID-19. However, Avista confirmed its earnings guidance for 2020 remains between $1.75 and $1.95 per share. The company emphasized its commitment to community support amidst the pandemic, with over $2 million in charitable contributions.
Avista (NYSE: AVA) has submitted filings with the Washington Utilities and Transportation Commission aimed at recovering costs from infrastructure investments without raising customer bills. These filings include general rate cases for electric and natural gas services, a Tax Customer Credit, and a deferral request linked to its Wildfire Resiliency Plan. The proposals project an annual increase in electric revenues of $44.2 million and natural gas revenues of $12.8 million, both offset by tax credits to maintain current customer rates.
Avista Corp. (NYSE: AVA) will conduct its third quarter 2020 earnings conference call on November 4, 2020, at 10:30 a.m. EST. The earnings release will be issued earlier that day at 7:05 a.m. EST. Investors can access the call online at investor.avistacorp.com or by phone at (855) 806-8606 (Confirmation number 4383867). A replay will be available until November 11, 2020. Avista provides electric and natural gas services to over 759,000 customers across several states and operates other energy-related businesses.
Avista (NYSE: AVA) announced initial findings regarding the wildfires caused by extreme high winds in its region. The investigation revealed no evidence of deficiencies in the company's equipment or maintenance practices contributing to the fires. However, falling branches from healthy trees not within maintenance zones did damage the energy delivery system. Avista is cooperating with the Department of Natural Resources, focusing on community support and restoring electric and natural gas services. The company serves 395,000 electric and 364,000 natural gas customers across a 30,000 square mile area.
Avista Corp. reported a net income of $17.5 million, or $0.26 per diluted share, for Q2 2020, declining from $25.3 million, or $0.38 per share a year earlier. Year-to-date, net income stands at $65.9 million, or $0.98 per share, down from $141.1 million, or $2.14 per share in the same period last year. The company anticipates full-year earnings between $1.75 and $1.95 per diluted share, despite COVID-19 challenges impacting operational costs and utility margins. Adjustments include a general rate increase and ongoing liquidity management strategies.
Avista has launched a comprehensive 10-year Wildfire Resiliency Plan to enhance its wildfire prevention and response strategies. This initiative aims to strengthen infrastructure, improve operational practices, and increase collaboration with fire agencies. Key measures include grid hardening with fire-resilient materials, enhanced vegetation management, and improved situation awareness for better monitoring. The plan prioritizes public and worker safety and aims to minimize service disruptions due to wildfires and extreme weather.
Avista is launching a request for proposals (RFP) to acquire renewable energy resources, targeting up to 120 average megawatts (aMW) of new capacity. The utility aims to secure renewable generation to offset fossil-fuel reliance, aligning with its 2020 Integrated Resource Plan. The goal is to provide 100% clean electricity by 2045 and achieve carbon neutrality by 2027. Proposals must include eligible renewable resources such as wind, solar, geothermal, and more. RFP submissions are due by July 22, 2020, with details available on Avista's website.
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