Avista (AVA) FY2023 results: revenue $1.8 billion, up 2.4% on the year
Avista Corp. (AVA) reported revenue of $1.8 billion for fiscal 2023, the year ended 31 December 2023, up 2.4% on the year before. Net income was $171 million, up 10.3%, and diluted earnings per share $2.24. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2024.
Revenue
$1.8 billion
+2.4% on the year
FY2016FY2023
Operating margin
14.7%
11.1% a year earlier
FY2016FY2023
Net income
$171 million
+10.3% on the year
FY2016FY2023
Diluted EPS
$2.24
+5.7% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
447
124
267
+259.9%
Capital expenditure
499
452
440
+10.3%
Free cash flow
-51.6
-328
-173
Free cash flow margin
-2.9%
-19.2%
-12.0%
Cash from investing
-510
-460
-445
Cash from financing
84.9
327
186
-74.1%
Depreciation and amortisation
265
253
232
+4.8%
Share-based compensation
8.0
9.0
4.7
-11.1%
Dividends paid
141
129
118
+9.2%
Dividend per share
$1.84
$1.76
$1.69
+4.5%
Diluted shares, weighted
76m
73m
70m
+4.7%
Shares outstanding at period end
78m
75m
71m
+4.2%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
2,485
2,335
2,155
+6.5%
Debt
2,931
2,809
2,432
+4.3%
Operating lease liabilities
64.0
64.3
66.1
-0.4%
Finance lease liabilities
39.0
42.5
45.7
-8.2%
Other liabilities
2,183
2,167
2,155
+0.8%
Total liabilities and equity
7,702
7,417
6,854
+3.8%
Goodwill
52.0
52.4
52.4
-0.8%
Cash and equivalents
35.0
13.4
22.2
+160.7%
Inventory
160
108
84.7
+48.6%
Other assets
7,455
7,244
6,694
+2.9%
Total assets
7,702
7,417
6,854
+3.8%
10-K for the year ended 31 December 2023, filed 21 February 2024: the filing.