Avista Corporation · NYSE:AVA
Avista — Q2 2024 Earnings Presentation
15 slides from Avista's earnings presentation, Aug 7, 2024
Slide 1: Q2 2024 Earnings
Q2 2024 Earnings August 7, 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: Results Demonstrate Strength of Utility
Results Demonstrate Strength of Utility Earnings per Diluted Share by Q2 2024 Q2 2023 YTD 2024 YTD 2023 Business Segment Avista Utilities $0.31 $0.25 $1.17 $0.93 AEL&P $0.01 $0.02 $0.06 $0.07 Other $(0.03) $(0.04) $(0.03) $(0.04) Consolidated $0.29 $0.23 $1.20 $0.96 • Continued investment in system
Slide 5: 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 June 30, 2024: Electric $ 289,473 $ 91,033 $ 198,440 $ 41,672 $ 156,768 Natural Gas 103,950 54,701 49,249 10,343 38,906 Less: Intraco
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 page 5 for a reconciliation of these non- GAAP measures. 6
Slide 7: 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 8: Investing in the Utility of the Future
Investing in the Utility of the Future $575 Wildfire Resiliency Other 7% Enterprise $525 Technology 15% $500 Transmission Substation Rebuilds Natural Gas and Distribution 48% 13% Generation 17% Hydro Plant Modernization 2024 2025 2026 Avista Utilities Expected Top 3 Capital Programs Allocation of Av
Slide 9: Prudent Balance Sheet and Liquidity
Prudent Balance Sheet and Liquidity Consolidated capital structure Liquidity June 30, 2024 Common stock issued and expected June 30, 2024 ($ in millions) ($ in millions) $70 Issued through 6/30/2024 Equity Debt $18 45.6% 54.4% Available liquidity $295 Letters of Upcoming debt maturities credit ($ in
Slide 10: 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 11: Questions
Questions 11
Slide 12: 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 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 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