Monitor the Q4 2026 short-term loan of up to $100M and the pace of regulatory deferral recovery. The utility earnings trajectory remains on track for the midpoint of guidance, but the reliance on non-utility investment gains for the GAAP beat is not recurring.
Price Chart
Executive Summary
Avista Corp. reported Q3 2026 GAAP EPS of $0.57, above the $0.42 consensus, driven by investment gains at non-regulated businesses. Non-GAAP utility EPS of $0.38 was essentially flat year-over-year ($0.37 in Q3 2025). The company confirmed its 2026 non-GAAP utility earnings guidance of $2.52-$2.72 per share, expecting to land at the midpoint. The core utility business showed modest improvement, with GAAP net income rising to $49M from $29M a year ago, though the increase was primarily from non-utility investment performance.
Key Financial Metrics
Key Facts
- Q3 2026 GAAP EPS $0.57 vs $0.36 in Q3 2025
- Q3 2026 non-GAAP utility EPS $0.38 vs $0.37 in Q3 2025
- GAAP net income $49M in Q3 2026 vs $29M in Q3 2025
- Non-GAAP utility earnings $33M in Q3 2026 vs $30M in Q3 2025
- 2026 non-GAAP utility earnings guidance confirmed at $2.52-$2.72 per share
- Year-to-date non-regulated other business income $29M vs losses of $13M in 2025
- Expects up to $15M additional common stock issuance in 2026
- Plans short-term loan of up to $100M by end of Q4 2026 due to regulatory deferrals
Financial Impact
GAAP EPS beat consensus by $0.15 (35.7%); utility earnings essentially flat YoY
Risk Factors
- Regulatory deferrals and delayed recovery driving short-term borrowing needs
- Large industrial customer departure impacting 2026 utility earnings by $0.12 per share
- Non-regulated investment income is volatile and not a recurring earnings driver
- Planned equity issuance of up to $110M in 2027 could dilute existing shareholders
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-445766 |
| Document: ava-20261104.htm | 0001193125-26-445766 |
| Document: ava-ex99_2.htm | 0001193125-26-445766 |
| Document: 0001193125-26-445766-index-headers.html | 0001193125-26-445766 |
| Document: 0001193125-26-445766-index.html | 0001193125-26-445766 |
| Document: 0001193125-26-445766.txt | 0001193125-26-445766 |
| 8-K Data (Synthetic) | 0001193125-26-445766 |
Track record
14 reports on AVA
Filters
- Nov 11, 2026today Press Release Neutral 2/10 Entry $39.97 Now $40.21 +0.60% settles Dec 11
- Nov 6, 20265d ago 8-K Neutral 3/10 Entry $40.06 Now $40.21 +0.37% settles Dec 8
- Nov 4, 20267d ago Press Release Neutral 4/10 Entry $40.17 Now $40.21 +0.10% settles Dec 3
- Nov 3, 20268d ago 8-K Neutral 4/10 Viewing No price data
- Nov 3, 20268d ago Institutional Cluster Neutral 2/10 Entry $38.11 Now $40.21 +5.51% settles Dec 2
- Aug 10, 202613w ago Press Release Neutral 2/10 Entry $38.43 to $37.40 Now $40.21 +4.63% ▼ −2.68% −1.62% vs SPY
- Aug 3, 202614w ago Press Release Neutral Not scored Entry $39.55 to $37.16 Now $40.21 +1.67% ▼ −6.04% −7.28% vs SPY
- Jul 31, 202614w ago Press Release Neutral 2/10 Entry $39.55 to $37.16 Now $40.21 +1.67% ▼ −6.04% −7.28% vs SPY
- Jun 2, 202623w ago 8-K Neutral 3/10 Entry $41.08 to $41.40 Now $40.21 −2.12% ▲ +0.78% +1.78% vs SPY
- May 6, 202627w ago Press Release Neutral 2/10 Entry $40.98 to $41.08 Now $40.21 −1.88% ▲ +0.24% −2.89% vs SPY
US Market Status
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