Slide 1: Q3 2023 Earnings
Q3 2023 Earnings November 1, 2023
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: Focused on Execution
Focused on Execution Heather Rosentrater appointed President of Completed the first year of a DOE Avista Corp. effective October 2023 Connected Communities grant 4
Slide 5: Driving Effective Regulatory Outcomes
Driving Effective Regulatory Outcomes Next multiyear rate plan filing expected early 2024. Washington Multiparty settlement in Washington approved and new rates effective 12/2022. Base electric revenue increase of $38M (6.9%) in year 1, and $12.5M (2.1%) in year 2. Rate increases are partially
Slide 6: Consolidated Earnings Bridge
Consolidated Earnings Bridge * Including intracompany. The chart above includes electric and gas utility margin, which are considered non-GAAP financial measures. Refer to the Appendix for a reconciliation of these non-GAAP measures. 6
Slide 7: Investing in the Utility of the Future
Investing in the Utility of the Future Avista Utilities Expected Capital Spend 2023-2025 ($ in millions) $550 Approximately one-third of capital plan $525 allocated to transmission and distribution $500 $475 Upgrading generation and evaluating opportunities for expansion Addressing resiliency,
Slide 8: Prudent Balance Sheet and Liquidity
Prudent Balance Sheet and Liquidity Liquidity Common stock issued and expected September 30, 2023 ($ in millions) ($ in millions) Consolidated capital structure September 30, 2023 Issued through 9/30/2023 $88 $120M expected Available liquidity $316 Equity 45.2% Debt Upcoming debt maturities 54.8% ($
Slide 9: Earnings Guidance
Earnings Guidance Original 2023 Updated 2023 Avista Utilities $2.15 - $2.31 $2.18 - $2.24 AEL&P $0.08 - $0.10 $0.10 - $0.12 Other $0.04 - $0.06 $(0.01) - $0.01 Consolidated $2.27 - $2.47 $2.27 - $2.37 Guidance Assumptions Our earnings guidance assumes timely and appropriate rate relief in our juri
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: 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 Sept. 30, 2023: Electric $ 309,027 $ 116,729 $ 192,298 $ 40,383 $ 151,915 Natural Gas 74,323 43,741 30,582 6,422 24,160 Less: Intraco
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