Avista (AVA) Q3 FY2024 earnings: revenue $394 million, up 3.7% on the year

Avista Corp. (AVA) reported revenue of $394 million for Q3 FY2024, the quarter ended 30 September 2024, up 3.7% on the same quarter a year earlier. Net income was $18 million, up 22.3% on the year, and diluted earnings per share $0.23. The figures are the company's own, from the 10-Q it filed with the SEC on 6 November 2024.

Revenue$394 millionup 3.7%

Net income$18 millionup 22.3%

Diluted EPS$0.23

QuarterQ3 FY2024ended 30 September 2024

The quarter, against the one before and a year earlier

Line	Q3 FY2024	Q2 FY2024	Q3 FY2023	Change on the year
Revenue	394	402	380	+3.7%
Operating income	49.0	55.0	38.1	+28.7%
Operating margin	12.4%	13.7%	10.0%
Pre-tax income	18.0	24.0	10.9	+64.8%
Income tax	0.0	1.0	-3.8	n/a
Effective tax rate	0.0%	4.2%	-34.6%
Net income	18.0	23.0	14.7	+22.3%
Net margin	4.6%	5.7%	3.9%
Diluted EPS	$0.23	$0.29	$0.19	+21.1%

$ million except per share.

Free 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. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

Line	Q3 FY2024	Q2 FY2024	Q3 FY2023	Change on the year
Operating cash flow	127	127	124	+2.8%
Capital expenditure	154	132	133	+16.4%
Free cash flow	-27.0	-5.7	-8.8	n/a
Free cash flow margin	-6.9%	-1.4%	-2.3%
Cash from investing	-156	-136	-135	n/a
Cash from financing	23.1	11.6	3.7	+528.0%
Depreciation and amortisation	67.9	67.8	66.9	+1.5%
Share-based compensation	1.9	4.0	1.6	+18.5%
Dividends paid	37.4	37.3	35.2	+6.1%
Dividend per share	$0.47	$0.47	$0.46	+3.3%
Diluted shares, weighted	79m	78m	77m	+2.9%
Shares outstanding at period end	79m	79m	77m	+2.3%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q3 FY2024	Q2 FY2024	Q3 FY2023	Change on the year
Shareholders' equity	2,528	2,527	2,410	+4.9%
Debt	2,952	2,909	2,803	+5.3%
Operating lease liabilities	65.4	64.9	67.1	-2.5%
Finance lease liabilities	36.4	37.3	39.9	-8.8%
Other liabilities	2,199	2,145	2,150	+2.3%
Total liabilities and equity	7,781	7,684	7,470	+4.2%
Goodwill	52.4	52.4	52.4	+0.0%
Cash and equivalents	9.1	14.6	8.6	+5.7%
Inventory	186	176	145	+28.1%
Other assets	7,533	7,441	7,264	+3.7%
Total assets	7,781	7,684	7,470	+4.2%

Questions

What was Avista's revenue in Q3 FY2024?

Avista (AVA) reported revenue of $394 million for Q3 FY2024, the quarter ended 30 September 2024, up 3.7% on the same quarter a year earlier.

How much did Avista earn in Q3 FY2024?

Net income for Q3 FY2024 was $18 million, up 22.3% on the year, and diluted earnings per share $0.23.

When did Avista report Q3 FY2024 results?

Avista filed its 10-Q for the quarter ended 30 September 2024 with the SEC on 6 November 2024.

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024 †	Q2 FY2024 †	Q3 FY2024 †	Q4 FY2024 * †	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	380	517	609	402	394	533	617	411	403	533	570	413
Operating income	38.1	99.2	101	55.0	49.0	102	125	57.0	60.0	112	134	54.0
Operating margin	10%	19%	17%	14%	12%	19%	20%	14%	15%	21%	24%	13%
Pre-tax income	10.9	66.7	73.0	24.0	18.0	68.0	91.0	15.0	31.0	80.0	105	41.0
Tax rate	-35%	-26%	3%	4%	0%	0%	13%	7%	6%	11%	12%	15%
Net income	14.7	84.1	71.0	23.0	18.0	67.2	79.0	14.0	29.0	71.0	92.0	35.0
Net margin	4%	16%	12%	6%	5%	13%	13%	3%	7%	13%	16%	8%
Diluted EPS	$0.19	$1.09	$0.91	$0.29	$0.23	$0.86	$0.98	$0.17	$0.36	$0.87	$1.11	$0.43
Operating cash flow	124	53.8	190	127	127	89.8	184	40.0	170	75.0	179	122
Capital expenditure	133	139	119	132	154	128	103	143	133	191	150	176
Free cash flow	-8.8	-85.6	71.1	-5.7	-27.0	-37.8	81.0	-103	37.0	-116	29.0	-54.0
Dividends paid	35.2	35.8	38.0	37.3	37.4	37.5	40.0	39.0	40.0	40.0	41.0	40.0
Shares outstanding	77m	78m	78m	79m	79m	80m	81m	81m	81m	82m	83m	84m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS 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 the share count are as they are. Free 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 30 September 2024, filed 6 November 2024, accession 0000950170-24-121737: the filing on EDGAR. All of Avista Corp.'s filings: EDGAR company page.

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