Avista Corporation · NYSE:AVA
Avista — Q2 2023 Earnings Presentation
14 slides from Avista's earnings presentation, Aug 2, 2023
Slide 1: Q2 2023 Earnings
Q2 2023 Earnings August 2, 2023
Slide 2: Call Participants
Call Participants Dennis Vermillion Kevin Christie Ryan Krasselt President and CEO Senior VP, Chief Financial VP, Controller, and 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: Focused on Execution
Focused on Execution 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 $0 2023 2024 2025 Transmission and Distribution Generation N
Slide 8: Prudent Balance Sheet and Liquidity
Prudent Balance Sheet and Liquidity Liquidity Common stock issued and expected June 30, 2023 ($ in millions) Consolidated capital structure ($ in millions) June 30, 2023 $500 Q1 2023 Q2 2023 $30 $30 $400 Available liquidity $326 $120M Equity 44.4% Debt 55.6% $300 Upcoming debt maturities ($ in milli
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* 5% Other $0.04 - $0.06 2Q23 EPS 10%* Consolidated $2.27 - $2.47 1Q23 EPS 35%* *Estimated Guidance Assumptions Our earnings guidance assu
Slide 10: Questions
Questions 10
Slide 11: 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 11
Slide 12: Appendix
Appendix 12
Slide 13: 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 14: 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