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Dec 31, 2021
Avista Q4 2021 Earnings Report
Reported net income for Q4 2021 and confirmed the 2022 and 2023 earnings guidance.
Key Takeaways
Avista Corp. reported a net income of $50.9 million, or $0.71 per diluted share, for the fourth quarter of 2021, compared to $58.7 million, or $0.85 per diluted share for the fourth quarter of 2020. The company confirmed its 2022 and 2023 consolidated earnings guidance with ranges of $1.93 to $2.13 per diluted share in 2022, and $2.42 to $2.62 per diluted share in 2023.
Consolidated earnings were in the upper half of guidance range due to significant gains at other businesses.
Avista Edge to roll out its first internet broadband pilot in the City of Cheney, Washington in 2022.
Avista Utilities’ earnings were in-line with revised forecast, which included higher net power supply costs.
Filed a two-year rate plan in Washington, with new rates expected in late 2022.
Revenue by Segment
Forward Guidance
Avista Corp. is confirming its 2022 and 2023 consolidated earnings guidance with ranges of $1.93 to $2.13 per diluted share in 2022, and $2.42 to $2.62 per diluted share in 2023.
Positive Outlook
- Timely and appropriate rate relief in all jurisdictions.
- General rate case in Oregon filed in October 2021.
- Multiyear general rate cases in Washington filed in January 2022.
- Expect these cases to provide rate relief toward the end of 2022 and into 2023.
- Opportunity to earn allowed return in 2023 if new rates are approved at the levels requested.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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