Slide 1: Q1 2023 Earnings
Aw AIVISTA Q1 2023 Earnings May 3, 2023
Slide 2: Call Participants
Call Participants Dennis Vermillion Mark Thies Kevin Christie Ryan Krasselt President and CEO Executive VP, CFO, Senior VP, External VP, Controller, and and Treasurer Affairs, and Chief Principal Accounting Customer Officer Officer 2
Slide 3: Forward-Looking Statements
Forward-Looking Statements This presentation contains forward-looking statements, including statements regarding our current expectations for future financial performance and cash flows, capital expenditures, financing plans, our current plans or objectives for future operations and other factors, w
Slide 4: Our Focus
Our Focus Operating a great utility Investing in infrastructure Constructive regulatory outcomes Provide safe, reliable, Responsibly deploy capital Better align earned and responsible energy to utility infrastructure authorized returns 4
Slide 5: Driving Effective Regulatory Outcomes
Driving Effective Regulatory Outcomes Multiparty settlement in Washington approved and new rates effective 12/2022. Washington Base electric revenue increase of $38M (6.9%) in year 1, and $12.5M (2.1%) in year 2. Rate increases are partially offset by remaining customer tax credits for a period
Slide 6: Consolidated Earnings Bridge
Consolidated Earnings Bridge *Including intracompany. 6
Slide 7: Investments to Upgrade Our Systems
Investments to Upgrade Our Systems 5% rate base growth Avista Utilities Expected Spend 2023-2025 ($ in millions) $500 $475 $475 $475 $33 $27 $27 $450 $65 $59 $400 $71 $350 $76 $82 $91 $300 $56 $55 $56 $250 $200 $150 $257 $234 $236 $100 $50 $0 2023 2024 2025 Transmission and Distribution Generation N
Slide 8: Prudent Balance Sheet and Liquidity
Prudent Balance Sheet and Liquidity Liquidity March 31, 2023 Common stock issued and expected ($ in millions) ($ in millions) Consolidated capital structure March 31, 2023 $500 Q1 2023 $30 $400 Available liquidity $264 $120M Equity Debt 44.8% 55.2% $300 Upcoming debt maturities Letters of ($ in mill
Slide 9: Earnings Guidance
Earnings Guidance Forecast Distribution of 2023 Avista Utilities Earnings (excluding ERM) 2023 Avista Utilities $2.15 - $2.31 4Q23 50%* AEL&P $0.08 - $0.10 3Q23 Other $0.04 - $0.06 10%* 2Q23 5%* Consolidated $2.27 - $2.47 1Q23 EPS 35%* *Estimated Guidance Assumptions Our earnings guidance assumes
Slide 10: Questions
Questions 10
Slide 11: Congratulations to Mark!
Congratulations to Mark! Blackhawks hat Boat-safe Fish wine glass (Mark says this one is big) More wine 11
Slide 12: Contact Information
Contact Information Analysts and Investors Stacey Wenz Investor Relations Manager (509) 495-2046 stacey.wenz@avistacorp.com Media Laurine Jue External Communications Manager (509) 495-2510 laurine.jue@avistacorp.com Webcast replay Archived on investor.avistacorp.com 12
Slide 13: Appendix
Appendix 13
Slide 14: Risks, Uncertainties and Other Factors That Could Affect Future Results
Risks, Uncertainties and Other Factors That Could Affect Future Results Forward-looking statements are subject to a variety of risks, uncertainties and other factors, most of which are beyond our control and many of which could have significant impact on our operations, results of operations, financ
Slide 15: Risks, Uncertainties and Other Factors That Could Affect Future Results
Risks, Uncertainties and Other Factors That Could Affect Future Results Strategic Risk growth or decline of our customer base due to new uses for our services or decline in existing services, including, but not limited to, the effect of the trend toward distributed generation at customer sites; the