Avista Corporation Q2 FY2025 Earnings Call

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Avista Corporation Q2 2025 Earnings Summary

  • Consolidated Earnings: First half 2025: $1.15 per diluted share (down from $1.20 in first half 2024). Q2 2025: $0.17 per diluted share (down from $0.29 in Q2 2024).
  • Avista Utilities Performance: YTD 2025 earnings of $1.25 per diluted share, a nearly 7% increase from YTD 2024. Strong results driven by constructive regulatory outcomes and cost management, despite slightly lower Q2 earnings vs. 2024 due to resource cost timing and operating expense patterns.
  • Regulatory Updates: Oregon all-party settlement approved (new rates effective Sept 1, 2025). Idaho all-party settlement reached (new rates expected Sept 1, 2025 if approved). Next Washington GRC filing planned for Q1 2026. Builds on 2024 Washington multiyear rate plan.
  • Investment Portfolio: Valuation losses of $0.12 per diluted share in Q2 2025 (primarily clean tech venture funds impacted by policy/sentiment shifts). First-half losses totaled $0.15 per share. Expect volatility to moderate with policy clarity; long-term strategic value anticipated via economic development and innovation learning.

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Operator: Good day, and thank you for standing by. Welcome to the Avista Corporation Q2 2025 Earnings Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Stacey Walters, Investor Relations Manager. Please go ahead. Stacey Walters: Good morning. It's great to have you with us for Avista's Second Quarter 2025 Earnings Conference Call. Our earnings and second quarter 2025 Form 10-Q were released premarket this morning. You can find both on our website. Joining me today are Avista Corp. President and CEO, Heather Rosentrater; and Senior Vice President, CFO, Treasurer and Regulatory Affairs Officer, Kevin Christie. We will be making forward-looking statements during this call. These involve assumptions, risks and uncertainties, which are subject to change. Various factors could cause actual results to differ materially from the expectations we discuss in today's call. Please refer to our Form 10-K for 2024 and our Form 10-Q for the second quarter of 2025 for a full discussion of these risk factors. Both are available on our website. I'll begin with a recap of the financial results presented in today's press release. Our consolidated earnings for the first half of 2025 were $1.15 per diluted share compared to $1.20 for the first half of 2024. For the second quarter of 2025, our consolidated earnings were $0.17 per diluted share compared to $0.29 for the second quart

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