Avista Outlines 2026 Earnings Outlook and Capital Plan
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An announcement from Avista ( (AVA) ) is now available.
On February 27, 2026, Avista Corp. released a March 2026 investor presentation outlining its financial performance, regulatory developments and capital plans, including 2025 operating revenue of $1.9 billion, net income of $191 million and diluted EPS of $2.36. The utility is targeting long-term annual utility earnings growth of 4–6% from the midpoint of 2025 consolidated guidance, an expected long-term ROE of 9.0% and non-GAAP utility earnings guidance of $2.52 to $2.72 per diluted share for 2026, underpinned by a strengthened S&P outlook to stable.
Avista detailed a planned $3.4 billion capital program for 2026–2030 to support wildfire mitigation, grid modernization and its aspirational goals of 100% clean electricity and carbon-neutral gas operations by 2045, alongside a 5% base capital CAGR and potential additional spending for large new loads such as data centers. Regulatory milestones include new electric and gas rates effective in Washington, Idaho and Oregon during 2025–2026 and a 2026 Washington general rate case with a four-year rate plan, reflecting supportive commissions and mechanisms for cost deferrals tied to wildfire resiliency and employee benefits.
The company also highlighted a signed memorandum of understanding for a potential 10% ownership stake in the 3,000-megawatt North Plains Connector high-voltage direct-current transmission project, with definitive agreements expected within 6–9 months and financial commitments anticipated near the project’s 2032 conclusion. Avista’s wildfire mitigation strategy, including grid hardening, advanced fire weather analytics and public safety power shutoffs, combined with recent Washington and Idaho legislation, is intended to enhance system resilience while managing risk and securing regulatory and potential federal support for these investments.
The most recent analyst rating on (AVA) stock is a Hold with a $45.00 price target. To see the full list of analyst forecasts on Avista stock, see the AVA Stock Forecast page.
Spark’s Take on AVA Stock
According to Spark, TipRanks’ AI Analyst, AVA is a Neutral.
The score is held back primarily by financial-statement uncertainty and balance-sheet risk flags in the provided 2025 snapshots. Offsetting this, the technical setup is constructive and valuation is supported by a ~4.6% dividend yield. Earnings call guidance and capital plans are slightly positive overall, but notable regulatory and customer-related headwinds plus higher financing needs temper the outlook.
To see Spark’s full report on AVA stock, click here.
More about Avista
Avista Corp. is primarily a regulated electric and natural gas utility incorporated in Washington in 1889, serving about 429,000 electric and 386,000 gas customers across a 34,000-square-mile territory with 1.5 million people. It operates eight hydro facilities, six thermal plants and extensive transmission and distribution networks, with a generation portfolio that was 68% renewable as of January 1, 2026, and is among the lowest carbon-emitting electric utilities in the U.S.
The company reported 2025 operating revenue of $1.9 billion, net income attributable to shareholders of $191 million and diluted EPS of $2.36, supported by shareholders’ equity of $2.7 billion at year-end 2025. Avista posted 1% customer growth in 2025 and has an annualized 2026 dividend of $1.97 per share, positioning it as a solid, stable utility focused on regulated earnings and long-term capital investment.
Average Trading Volume: 738,511
Technical Sentiment Signal: Buy
Current Market Cap: $3.3B
For a thorough assessment of AVA stock, go to TipRanks’ Stock Analysis page.
