Avista Q4 Earnings Rise, But Miss View

(RTTNews) - Avista Corp. (AVA), an electric and natural gas utility company, Wednesday reported higher earnings and operating revenues for the fourth quarter. However, earnings results missed the Street view. Further, the company provided an earnings outlook for fiscal 2024.

Quarterly earnings increased to $84.14 million or $1.08 per share from $77.96 million or $1.05 per share in the last year.

On average, three analysts polled by Thomson Reuters expect earnings of $1.14 per share for the quarter. Analysts' estimates typically exclude special items.

Operating revenues rose to $504.44 million from $496.77 million in the prior year, on higher revenue from the electric utility segment.

The Street view for revenue is $545.78 million.

Looking forward to the full year, the company expects earnings to be between $2.36 and $2.56 per share.

Analysts' estimate earnings of $2.4 per share for the full year.

On Tuesday, Avista shares closed at $33.94, up 1.10% on the Nasdaq.