Avista Corporation · NYSE:AVA
Avista — Q1 2024 Earnings Presentation
16 slides from Avista's earnings presentation, May 1, 2024
Slide 1: Q1 2024 Earnings
Aw AIVISTA a Cc) co = 2024 Q1 2024 Earnings May 1, 2024
Slide 2: Call Participants
Call Participants Dennis Vermillion Heather Rosentrater Kevin Christie Ryan Krasselt Chief Executive President and Chief Senior VP, Chief Financial VP, Controller, and Officer Operating Officer Officer, Treasurer, and Principal Accounting Regulatory Affairs 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: Solid First Quarter Results Kick Off 2024
Solid First Quarter Results Kick Off 2024 Earnings per Diluted Share by Q1 2024 Q1 2023 Business Segment Avista Utilities $0.86 $0.69 AEL&P $0.05 $0.05 Other $ -- $(0.01) Consolidated $0.91 $0.73 • Avista is well-positioned to meet full-year earnings targets • Confirming consolidated earnings guidan
Slide 5: Driving Effective Regulatory Outcomes
Driving Effective Regulatory Outcomes Washington General rate cases (multiyear rate plans) for electric and gas filed January 2024 for new rates to be effective December 2024. Proposed electric revenue increase of $77.1M (13%) in year 1, and $53.7M (11.7%) in year 2. Proposed base gas revenue
Slide 6: Wildfire Mitigation Is Ahead of Target
Wildfire Mitigation Is Ahead of Target 2,800 MILES OF TRANSMISSION LINE 40% STEEL Distribution grid 20,000 risk trees Fire Safe Mode Public Safety Power hardening exceeded removed in 2023 – a Shutoffs 2023 targets for Implemented 4 times new record! in 2023 In our toolkit for 2024 progress 6 As of 1
Slide 7: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures Operating Resource Utility Margin Income Utility Margin Revenues Costs (Pre-Tax) Taxes (a) (Net of Tax) For the three months ended Mar. 31, 2024: Electric $ 366,894 $ 166,354 $ 200,540 $ 42,113 $ 158,427 Natural Gas 233,907 132,019 101,888 21,396 80,492 Less: Intr
Slide 8: Consolidated Earnings Bridge
Consolidated Earnings Bridge * Including intracompany. The chart above includes electric and gas utility margin, which are considered non-GAAP financial measures. Refer to page 7 for a reconciliation of these non- GAAP measures. 8
Slide 9: Investing in the Utility of the Future
Investing in the Utility of the Future Avista Utilities Expected Capital Spend 2024-2026 ($ in millions) $575 Approximately one-third of capital plan allocated to transmission and distribution $525 $500 Upgrading generation and evaluating opportunities for expansion Addressing resiliency, enab
Slide 10: Prudent Balance Sheet and Liquidity
Prudent Balance Sheet and Liquidity Liquidity 83.7 March 31, 2024 Low-cost debt ($ in millions) remarketed, completed April Consolidated capital structure million 2024 March 31, 2024 LONG-TERM DEBT $500 Available liquidity $234 70 Expected to be issued throughout the $400 million remainder of 2024 C
Slide 11: Earnings Guidance
Earnings Guidance Guidance Assumptions 2024 Our guidance does not include the effect of unusual or non-recurring items until the effects are probable. Various factors could cause actual results to differ materially from our expectations, including our earnings guidance. Please refer to our 10-K fo
Slide 12: Questions
Questions 12
Slide 13: Contact Information
Contact Information Analysts and Investors Stacey Wenz Investor Relations Manager (509) 495-2046 stacey.wenz@avistacorp.com Media Lena Funston External Communications Manager (509) 495-8090 lena.funston@avistacorp.com Webcast replay Archived on investor.avistacorp.com 13
Slide 14: Appendix
Appendix 14
Slide 15: 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 16: Risks, Uncertainties and Other Factors That Could Affect Future Results
Risks, Uncertainties and Other Factors That Could Affect Future Results Technology Risk changes in costs that impede our ability to implement new information technology systems or to operate and maintain current production technology; changes in technologies, possibly making some of the current tech