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2024 Earnings Guidance and Outlook
Avista Corp. is initiating its 2024 earnings guidance with a consolidated range of $2.36 to $2.56 per diluted share.
We expect Avista Utilities to contribute within a range of $2.23 to $2.39 per diluted share in 2024. We expect the impact of the ERM on earnings to be negative during the first quarter of 2024 in the 50 percent customer/50 percent company sharing band. For the full year, we expect the ERM to be neutral to earnings with a positive impact in the latter part of the year offsetting the negative impact in the first quarter.
In 2023, the distribution of our earnings between quarters differed from our historical results due to the impact of customer tax credits being returned to customers, reducing customer bills and income tax expense. We expect the distribution of earnings between quarters in 2024 to more closely align with results prior to 2023.
We expect AEL&P to contribute in the range of $0.09 to $0.11 per diluted share in 2024.
We expect our other businesses to contribute in the range of $0.04 to $0.06 per diluted share in 2024.
We continue to expect long term earnings growth of 4 to 6 percent off of a 2025 base year. This assumes a constructive outcome in our 2024 Washington general rate cases.
Our guidance does not include the effect of unusual or non-recurring items until the effects are known and certain. Various factors could cause actual results to differ materially from our expectations, including our earnings guidance. Please refer to our 10-K for 2023, and the cautionary statements below, for a full discussion of these factors.
Posted In: AVA
