Avista Corporation operates as an energy utility, conducting business through its various subsidiaries. Its operations are divided into two primary segments: Avista ...
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Operator: Good day, and welcome to the Avista Corporation Second Quarter 2026 Earnings Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker, Stacey Walters, Investor Relations Manager. Please go ahead. Stacey Wenz: Good morning. Thank you for joining us. Joining me today is Avista Corp. President and CEO, Heather Rosentrater, who will speak briefly in a few moments on current events. Senior Vice President, CFO, Treasurer and Regulatory Affairs Officer, Kevin Christie, is also here and will be available for questions. As I'm sure you can appreciate, we are going to focus this earnings call on the fires that occurred in Spokane over the weekend. Please refer to our earnings press release and second quarter 10-Q for information that was filed premarket this morning relating to our financial results for the quarter. You can find this information online. Heather, please go ahead. Heather Rosentrater: Thank you, Stacey. As you may have seen in our press release yesterday and the related Form 8-K filed this morning, multiple wildfires are burning near Spokane, Washington. Fueled by dry and windy conditions, these fires spread rapidly and have devastated our community. Thousands of people, including many of our employees, have been displaced and many are still facing great uncertainty. Our hearts are with everyone who has had to evacuate their homes, everyone who has suffered loss and all who continue working on the front lines. Our facilities were not involved in starting any of these fires in the Spokane area. We have restored service to customers whose outages were solely related to the public safety power shutoffs. However, we still have electric and natural gas outages in parts of our service territory because of damaged infrastructure, evacuation restrictions and ongoing safety concerns associated with the fires. At this time, about 7,300 of our 429,000 electric customers are out of power and about 5,300 of our 386,000 natural gas customers are without service. And to reiterate, in areas that were part of the public safety power shutoff event, any remaining outages are no longer tied to that event. They are related to active wildfire conditions and the damage those fires caused. As a result of the fires, we have identified significant impacts to our transmission and distribution infrastructure serving parts of West Spokane. Multiple transmission lines in the area sustained damage from wildfire activity, and the transmission system was operating with reduced capacity due to the damage. I am happy to share that our crews repaired and energized a key transmission line earlier this morning that significantly reduces the risk of new customer outages due to system capacity constraints. However, we are still assessing the full extent of the damage as emergency responders provide access to impacted neighborhoods and fire conditions allow. The …
| Metric | Latest | YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength. | QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes. |
|---|---|---|---|
| The total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three). |
| Name | Title | Compensation | Gender | Year Born | Status |
|---|---|---|---|---|---|
Heather Lynn Rosentrater | President, Chief Executive Officer & Director | USD 1,700,327 | Female | 1978 | Active |
Kevin J. Christie | Chief Financial Officer, Treasurer & Senior Vice President of Regulatory Affairs |
| USD 804,575 |
| Male |
| 1968 |
| Active |
Gregory Curtis Hesler | Senior Vice President, General Counsel, Corporate Secretary and Chief Ethics & Compliance Officer | USD 787,775 | Male | 1978 | Active |
Jason R. Thackston | Senior Vice President of Growth, Energy Policy & External Relations | USD 716,931 | Male | 1970 | Active |
Bryan Alden Cox | Senior Vice President of Safety & Chief People Officer | USD 658,567 | Male | 1971 | Active |
Alexis Alexander | Vice President, Chief Information Officer & Chief Security Officer | USD 564,116 | Male | 1983 | Active |
Wayne Manuel | Senior Vice President of Operations & Technology | USD 564,116 | Male | 1974 | Active |
Alec J. Mesdag | President & Chief Executive Officer of Alaska Electric Power and Light Co. | — | Male | 1981 | Active |
Stacey Walters | Investor Relations Manager | — | Female | — | Active |
Ryan L. Krasselt | Vice President, Controller & Principal Accounting Officer | — | Male | 1970 | Active |
Latisha Hill | Vice President of Community Affairs & Chief Customer Officer | — | Female | 1979 | Active |
Est. EPS $2.60 · Revenue $1.99B · 3 analysts
Est. EPS $2.80 · Revenue $2.03B · 4 analysts
Est. EPS $0.34 · Revenue $413.50M · 1 analysts
$1.97 per share
| $2.0B |
| +1.3% |
| -27.5% |
| Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day. | $193.0M | +7.2% | -62.0% |
| Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials. | +24.2% | -58.9% | -79.5% |
| Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on). | +18.0% | +14.2% | -44.4% |
| Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales. | +9.8% | +5.8% | -47.5% |
| Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock. | $-101.0M | -10200.0% | -286.2% |
| FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine. | -5.1% | -10066.3% | -357.0% |
| Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe. | 124.6% | +3.6% | -1.4% |
| Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking. | 0.83x | -2.4% | +22.7% |
| Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground. | $8.6B | +8.9% | +1.5% |
| Metric | Annual (A vs E) | Annual Surprise | Quarter (A vs E) | Quarter Surprise |
|---|---|---|---|---|
| EPS Surprise | 2.38 vs 2.51 | -5.0% | 0.43 vs 0.34 | +26.5% |
| Revenue Surprise | $2.0B vs $2.0B | -0.4% | $413.0M vs $413.5M | -0.1% |
| Date | Executive | Title | Security | Side | Shares | Price |
|---|---|---|---|---|---|---|
| Sep 2, 2026 | DiLuciano Joshua D | officer: Vice President | Common Stock | D | 818 | $37.25 |
| Sep 2, 2026 | DiLuciano Joshua D | officer: Vice President | Common Stock | D | 3,857 | $37.24 |
| Sep 1, 2026 | Widmann Janet D. | director | Common Stock | A | 44 | $37.16 |
| Sep 1, 2026 | STANLEY HEIDI B | director | Common Stock | A | 44 | $37.16 |
| Sep 1, 2026 | Philipps Jeffry L. | director | Common Stock | A | 44 | $37.16 |
