Avista Corp. reported full‑year 2025 results that exceeded prior‑year performance, with net income of $193 million or $2.38 per diluted share, up from $180 million or $2.29 in 2024. Non‑GAAP utility earnings rose to $207 million or $2.55 per diluted share, reflecting stronger regulated franchise performance.
The company’s 2026 guidance for non‑GAAP utility earnings is $2.52 to $2.72 per diluted share, a modest increase from the 2025 figure and a $0.12 per share reduction that management attributes to the early return of a large industrial customer to independent power procurement. The guidance also incorporates the impact of the Washington order that required Avista to exit its stake in the Colstrip coal plant by December 31 2025, which reduced utility earnings in the final quarter.
Revenue for 2025 reached $1.02 billion, up 4% from $0.98 billion in 2024. The increase was driven by higher customer load growth in the regulated utility segment, while the non‑utility businesses posted wider losses, partly due to ongoing investments in clean‑technology and biotechnology ventures.
Earnings per share for the fourth quarter of 2025 were $0.87, falling short of consensus estimates of $1.02 to $1.04. The miss was largely caused by higher operating costs and a one‑time charge related to the Colstrip exit, which offset the benefit of stronger load growth. Revenue in the same quarter beat estimates, with $517 million reported versus consensus of $515.9 million, reflecting robust demand in the core utility services.
Management emphasized that the regulated utility franchise remains resilient, noting that utility earnings rose from 2024 but were dampened by the late‑December Washington order that required Avista to exit its stake in the Colstrip coal plant. The company said its team stayed focused on executing key initiatives throughout the year.
The company also announced a quarterly dividend increase to $0.4925, a 4.6% yield, underscoring its commitment to shareholder returns while maintaining capital discipline for future investments.
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