Avista Corporation Reports $79 Million Net Income in Q1 2025, Driven by Higher Utility Revenues

Avista Corporation reported a net income of $79 million for the first quarter of 2025, an increase from $71 million in the same period last year. This growth was primarily driven by higher utility revenues, which rose to $617 million from $609 million, largely due to the effects of general rate cases and an increase in customer counts. The company’s basic earnings per share improved to $0.98, up from $0.91 in the prior year. The increase in profitability was partially offset by rising operating expenses, which totaled $492 million, compared to $508 million in the previous year.

The company experienced significant changes in its financial performance compared to the previous fiscal period. Utility revenues, excluding alternative revenue programs, increased to $625 million from $606 million, while alternative revenue programs saw a decline, contributing a negative $8 million compared to a positive $3 million in the prior year. Operating expenses were impacted by higher resource costs, which decreased to $256 million from $293 million, reflecting lower commodity prices. Other operating expenses also rose, reflecting increased employee salaries and benefits, as well as higher thermal generation costs.

Operationally, Avista Corporation reported an increase in its customer base, with electric customers rising to 422,297 from 417,200 and natural gas customers increasing to 383,344 from 381,539. The company’s capital expenditures for the quarter were $103 million, down from $119 million in the same period last year, as it continues to invest in infrastructure improvements and reliability enhancements. The total assets of the company increased slightly to $7.966 billion from $7.941 billion at the end of 2024.

Looking ahead, Avista Corporation is focused on strategic developments, including the planned transfer of its 15% ownership in the Colstrip Units 3 and 4 to NorthWestern, expected to close by December 31, 2025. The company is also preparing for upcoming general rate cases in Idaho and Oregon, which are anticipated to further impact its revenue structure. The company expects to issue $80 million in common stock and $120 million in long-term debt in 2025 to support its capital needs. Overall, Avista Corporation remains committed to enhancing its service reliability while navigating regulatory changes and market conditions.