AVA

EX-99.1

2 ava-ex99_1.htm

EX-99.1

EX-99.1

Exhibit 99.1

Contact:

Investors: Stacey Walters (509) 495-2046 stacey.walters@avistacorp.com

Media: Lena Funston (509) 495-8090 lena.funston@avistacorp.com

Avista 24/7 Media Access (509) 495-4174

Avista Corp. Reports Q3 2026 Financial Results, Confirms 2026 Utility Earnings Guidance

SPOKANE, Wash. – Nov. 4, 2026, 4:05 a.m. PST: Avista Corp. (NYSE: AVA) today reported the following results for the third quarter of 2026 and the nine months ended Sept. 30, 2026 as compared to the respective periods in 2025 (dollars in millions, except per-share amounts):1

Third Quarter

Year-to-Date

2026

2025

2026

2025

Net income based on GAAP

$

49

$

29

$

176

$

122

Earnings per diluted share based on GAAP

$

0.57

$

0.36

$

2.11

$

1.51

Non-GAAP utility earnings1

$

33

$

30

$

147

$

135

Non-GAAP utility earnings per diluted share1

$

0.38

$

0.37

$

1.76

$

1.67

Avista Corp. is confirming its 2026 non-GAAP utility earnings guidance2 with a range of $2.52 to $2.72 per diluted share.

CEO Perspective

“Utility earnings for the third quarter remain on track for the year. Through our ongoing focus on strategic execution and cost management, we continue to expect to be at the midpoint of our non-GAAP utility earnings guidance for 2026,” said Heather Rosentrater, President and CEO of Avista.

Analysis of 2026 GAAP Earnings

Net income for the three and nine months ended Sept. 30, 2026 increased compared to the respective periods in 2025 primarily due to investment performance at our other businesses. We recognized year-to-date net investment gains in 2026, compared to year-to-date net investment

1 See reconciliations to GAAP measures and further information in the "Non-GAAP Financial Measures" section within this press release.

2Avista Corp. is unable to provide GAAP earnings guidance or present a quantitative reconciliation of forward-looking non-GAAP utility earnings and utility growth guidance without unreasonable effort because certain reconciling items are not estimable. For instance, investment gains and losses, which have historically made up the majority of our non-regulated other business earnings and can be significant to our overall results, are difficult to predict due to various factors outside of management's control. These items are uncertain, depend on various factors, and may have a material impact on our future GAAP results.

1

losses in 2025. For the nine months ended Sept. 30, 2026, net income also increased as a result of the impacts of our general rate cases.

Analysis of 2026 Non-GAAP Utility Earnings

The following table presents the changes in non-GAAP utility earnings and non-GAAP utility earnings per diluted share for the third quarter and year-to-date 2026, as compared to the same periods of 2025. It also outlines the various after-tax factors that contributed to these changes (dollars in millions, except per-share data):

Third Quarter

Year-to-Date

Net Income (a)

Earnings per Share

Net Income (a)

Earnings per Share

2025 utility earnings

$

30

$

0.37

$

135

$

1.67

Changes in net income and diluted earnings per share:

Avista Utilities

Electric revenues (b)

11

0.14

(2

)

(0.02

)

Natural gas revenues (c)

2

0.02

(25

)

(0.30

)

Electric resource costs (d)

(12

)

(0.14

)

1

0.02

Natural gas resource costs (e)

(2

)

(0.03

)

31

0.37

Other operating expenses (f)

3

0.05

(6

)

(0.06

)

Depreciation and amortization (g)

—

(0.01

)

6

0.07

Interest expense

(2

)

(0.02

)

(5

)

(0.06

)

Other (h)

1

0.02

8

0.10

Income tax at effective rate

2

—

3

0.02

Dilution on earnings

n/a

(0.02

)

n/a

(0.06

)

Total Avista Utilities

3

0.01

11

0.08

AEL&P

—

—

1

0.01

2026 utility earnings

$

33

$

0.38

$

147

$

1.76

(a) The tax impact of each line item was calculated using Avista Corp.'s federal statutory tax rate of 21 percent.

(b) Electric revenues decreased year-to-date as a result of decreased wholesale revenues, the removal of revenues related to the recovery of Colstrip costs, and decreased industrial sales volumes associated with the departure of a large industrial customer. These decreases were partially offset by the effects of our general rate cases. Electric revenues increased in the third quarter as a result of increases in retail rates.

(c) Natural gas revenues decreased year-to-date due to purchased gas adjustments (PGAs) and Climate Commitment Act (CCA) related revenues, with corresponding decreases to natural gas resource costs.

(d) Electric resource costs decreased year-to-date due to decreased fuel costs, consistent with lower thermal generation, as well as decreased expense recognized under the Energy Recovery Mechanism (ERM). The ERM resulted in a $10 million pre-tax expense for the first three quarters of 2026, compared to a $13 million pre-tax expense in the same period in 2025. These decreases were partially offset by increased authorized power su

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8-K

false0000104918AVISTA CORP00001049182026-02-252026-02-25

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 25, 2026

AVISTA CORPORATION

(Exact name of Registrant as Specified in Its Charter)

Washington

001-03701

91-0462470

(State or Other Jurisdiction of Incorporation)

(Commission File Number)

(IRS Employer Identification No.)

1411 East Mission Avenue

Spokane, Washington

99202-2600

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s Telephone Number, Including Area Code: 509 489-0500

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock

AVA

The New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Section 2 – Financial Information Item 2.02 Results of Operations and Financial Condition. On February 25, 2026, Avista Corporation (Avista Corp.) will issue a press release reporting financial results for the quarter and year ended December 31, 2025. A copy of the press release is furnished as Exhibit 99.1 to this report.

Section 7 – Regulation FD Item 7.01 Regulation FD Disclosure. On February 25, 2026, Avista Corp. will hold a webcast conference call with securities analysts to discuss financial results for the fourth quarter and fiscal year ended December 31, 2025, during and after which an illustrative slide presentation will be available on Avista Corp.'s internet website. A copy of this slide presentation is furnished as Exhibit 99.2 to this report.

Section 9 – Financial Statements and Exhibits Item 9.01 Financial Statements and Exhibits.

(d)

Exhibits

99.1

Press release dated February 25, 2026, which is being furnished pursuant to Item 2.02.

99.2

Slide presentation dated February 25, 2026, which is being furnished pursuant to Item 7.01

104

Cover Page Interactive Data File (formatted as inline XBRL with applicable taxonomy extension information contained in Exhibits 101.)

Note to Sections 2 and 7 – The information contained in Items 2.02 and 7.01, as well as Exhibits 99.1 and 99.2, is “furnished” pursuant to General Instruction B2 to Form 8-K, shall not be considered “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (“Exchange Act”) and shall not be incorporated by reference into any filing under the Securities Act of 1933 (“Securities Act”) or the Exchange Act. Accordingly, such information shall not be subject to the liabilities of Section 18 of the Exchange Act or Section 11 or 12(a)(2) of the Securities Act. Neither the references to Avista Corp.’s internet website in this Current Report nor the posting of any press release or financial presentation on such website shall, under any circumstances, be deemed to incorporate any information available on such website into this Current Report. The information available on Avista Corp.’s internet website is not part of this Current Report or any other report or other document furnished or filed by Avista Corp. with the Securities and Exchange Commission.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

AVISTA CORPORATION

(Registrant)

Date:

February 24, 2026

/s/ Kevin J. Christie

Senior Vice President, Chief Financial Officer, Treasurer and Regulatory Affairs Officer