Avista Corp. Turns To Q3 Profit On Higher Revenue; Narrows Annual Earnings Outlook

(RTTNews) - Energy company Avista Corp. (AVA) Wednesday reported net income of $14.72 million, or $0.19 per share for the third quarter, compared with a loss of $5.8 million, or $0.08 per share in the same quarter a year ago.

On average, analysts polled by Thomson-Reuters were expecting earnings of $0.11 per share. Analysts' estimates typically exclude special items.

Operating revenues for the quarter increased to $369.67 million from $349.66 million last year.

Looking forward, the company has narrowed its full-year EPS outlook to $2.27-$2.37 from the previous the guidance of $2.27 - $2.47, to reflect the impacts of Energy Recovery Mechanism (ERM) in Washington. The consensus estimate stands at $2.29.