AVISTA CORP

Avista Corp. reported Q2 2026 GAAP net income of $35 million ($0.43 per diluted share), a significant increase from $14 million ($0.17 per diluted share) in Q2 2025, primarily driven by investment gains. Non-GAAP utility earnings for the quarter were $23 million ($0.29 per diluted share), flat compared to the prior year, but year-to-date non-GAAP utility earnings increased to $114 million. The company confirmed its 2026 non-GAAP utility earnings guidance in the range of $2.52 to $2.72 per diluted share, citing strong operational execution and disciplined cost management.

Avista Corp. reported strong financial results for the second quarter and first half of 2026. Net income for Q2 significantly increased to $35 million, with diluted EPS of $0.43. For the first six months, net income rose to $127 million, and diluted EPS reached $1.54. The company also saw an increase in net cash provided by operating activities, despite a slight decrease in total operating revenues for the first half.

Avista has filed annual requests with the Idaho Public Utilities Commission to adjust natural gas and electric rates, which are designed to true-up costs with actual expenses and have no impact on the company's earnings. If approved, residential electric customers in Idaho would see their monthly bills increase by approximately 6.5% ($7.76) starting October 1, 2026, primarily due to the expiration of a rate credit and higher power costs. Conversely, residential natural gas customers would experience a decrease of about 1.5% ($0.90) per month starting November 1, 2026, mainly driven by lower wholesale natural gas prices.

Avista Corp. announced it will host its second quarter 2026 earnings conference call and webcast on Monday, August 3, 2026, at 10:30 a.m. Eastern Daylight Time. The company plans to release its second quarter 2026 earnings information earlier that day at 7:05 a.m. EDT. Interested parties must pre-register via the company's investor relations website to access the call-in details for the webcast, with a replay available for one year.

Avista Corp. announced that Jason R. Thackston, Senior Vice President of Growth, Energy Policy and External Relations, will retire from the company effective January 1, 2027. Mr. Thackston is departing to join Whitworth University as its Vice President of Finance and Administration and Chief Financial Officer. The company stated that his decision to leave is not due to any disagreement with management or the Board of Directors, and he will transition his responsibilities over the next six months.

Avista Corporation announced it is taking additional time to evaluate energy requests from new large data center developers, including pausing negotiations for a potential 500MW data center. This decision follows community interest and concerns related to a previously announced Memorandum of Understanding. The company aims to partner with governmental agencies to establish a clear planning process and incorporate stakeholder feedback, while upholding principles of customer protection, system reliability, and responsible growth.

Avista announced a pause in evaluating energy requests from new large data center developers, specifically halting negotiations for a previously announced 500MW data center. This decision follows significant community interest and concerns regarding the project. The company aims to take additional time to partner with governmental agencies for a coordinated planning process and consider stakeholder feedback, emphasizing transparency and long-term regional interests.

Avista Corporation has entered into a non-binding memorandum of understanding (MOU) with a developer in its Washington service territory for a large load electric service. The customer is seeking an initial load demand of 125 megawatts (MW) starting in 2029, with a potential expansion to 500 MW by 2032. This project is subject to further evaluation, regulatory review, and the execution of definitive agreements, with the next step being the negotiation of an Engineering and Procurement Contract.

Avista Corporation issued and sold $90.0 million of 4.77% first mortgage bonds due 2029 and $70.0 million of 6.10% first mortgage bonds due 2056 in a private placement. The company plans to issue an additional $70.0 million of 6.10% bonds in August 2026. Proceeds will be used to refinance existing debt and fund utility capital expenditures. Additionally, at its 2026 Annual Meeting, shareholders approved the election of eleven directors, ratified Deloitte & Touche LLP as auditor, and approved executive compensation.

Avista Corporation released its May 2026 investor presentation, outlining its strategic priorities and financial outlook. The company provided 2026 non-GAAP utility earnings guidance of $2.52 to $2.72 per diluted share and detailed plans for $3.4 billion in capital expenditures from 2026-2030. Key initiatives include a signed MOU for 10% ownership in the North Plains Connector Transmission Line and ongoing wildfire mitigation efforts. The presentation also highlighted positive regulatory outcomes and a stable S&P rating outlook.