Avista Corp. (AVA) Tops Q2 EPS by 3c

Avista Corp. (NYSE: AVA) reported Q2 EPS of $0.39, $0.03 better than the analyst estimate of $0.36. Revenue for the quarter came in at $319.3 million versus the consensus estimate of $338.14 million.

2018 Earnings Guidance and Outlook

Avista Corp. is confirming its 2018 guidance for consolidated earnings to be in the range of $1.90 to $2.10 per diluted share, excluding acquisition costs. We expect acquisition costs to be in the range of $1.50 to $1.60 per diluted share in 2018. The acquisition costs increased from our previous estimate of $0.80 to $0.85 per diluted share because they now include the effects of the commitments from the regulatory merger settlement agreements.

We expect Avista Utilities to contribute in the range of $1.89 to $2.03 per diluted share for 2018, excluding acquisition costs. The midpoint of our Avista Utilities' guidance range does not include any expense or benefit under the ERM. Our current expectation for the ERM is a benefit position within the 90 percent customer/10 percent Company sharing band, which is expected to add approximately $0.07 per diluted share. Our outlook for Avista Utilities assumes, among other variables, normal precipitation, temperatures and hydroelectric generation for the remainder of the year.

For 2018, we expect AEL&P to contribute in the range of $0.10 to $0.14 per diluted share. Our outlook for AEL&P assumes, among other variables, normal precipitation and hydroelectric generation for the remainder of the year.

We expect the other businesses to be between a loss of $0.09 and a loss of $0.07 per diluted share, which includes costs associated with exploring strategic opportunities.

Our guidance generally includes only normal operating conditions and does not include unusual items such as settlement transactions or acquisitions/dispositions until the effects are known and certain.

For earnings history and earnings-related data on Avista Corp. (AVA) click here.

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