Avista sees FY24 EPS $2.36-$2.56, consensus $2.39

The comp;any said, “Avista Corp. is confirming its 2024 earnings guidance with a consolidated range of $2.36 to $2.56 per diluted share. We expect Avista Utilities to contribute within a range of $2.23 to $2.39 per diluted share in 2024. During the first quarter, there were unfavorable changes in forward prices resulting in less benefit from system optimization compared to that modeled at the start of the year, in addition to further deterioration in hydroelectric generation due to lower precipitation and snowpack conditions. As a result, the impact of the ERM on earnings is expected to be negative $0.07 per diluted share for the full year, within the 90 percent customer/10 percent Company sharing band.”