Avista (AVA) Q3 FY2026 earnings: revenue $421 million, up 4.5% on the year

Avista Corp. (AVA) reported revenue of $421 million for Q3 FY2026, the quarter ended 30 September 2026, up 4.5% on the same quarter a year earlier. Net income was $49 million, up 69.0% on the year, and diluted earnings per share $0.57. The figures are the company's own, from the 10-Q it filed with the SEC on 4 November 2026.

Revenue

$421 million

+4.5% on the year · +1.9% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

15.7%

14.9% a year earlier

Q4 FY2024Q3 FY2026

Net income

$49 million

+69.0% on the year · +40.0% on the quarter

Q4 FY2024Q3 FY2026

Diluted EPS

$0.57

+58.3% on the year · +32.6% on the quarter

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 1 raised, 3 new, 7 kept.

Third-quarter non-GAAP EPS rose to $0.38: Third-quarter non-GAAP utility earnings were $33 million, or $0.38 per diluted share, against $30 million and $0.37 a year earlier. Year-to-date figures were $147 million and $1.76 per share, against $135 million and $1.67.
GAAP EPS rose on investment performance: GAAP diluted EPS was $0.57 in the third quarter and $2.11 year-to-date, against $0.36 and $1.51 a year earlier. Management attributed the increase primarily to investment performance at other businesses.
Management expects guidance midpoint: Management said utility earnings remain on track for the year and that it continues to expect results at the midpoint of the 2026 range, citing strategic execution and cost management.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	421	413	403	+1.9%	+4.5%
Operating income	66.0	54.0	60.0	+22.2%	+10.0%
Operating margin	15.7%	13.1%	14.9%
Pre-tax income	56.0	41.0	31.0	+36.6%	+80.6%
Income tax	7.0	6.0	2.0	+16.7%	+250.0%
Effective tax rate	12.5%	14.6%	6.5%
Net income	49.0	35.0	29.0	+40.0%	+69.0%
Net margin	11.6%	8.5%	7.2%
Diluted EPS	$0.57	$0.43	$0.36	+32.6%	+58.3%

$ 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.

Cash flow

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	134	122	170	+9.8%	-21.2%
Capital expenditure	185	176	133	+5.1%	+39.1%
Free cash flow	-51.0	-54.0	37.0
Free cash flow margin	-12.1%	-13.1%	9.2%
Cash from investing	-191	-186	-125
Cash from financing	64.0	71.0	-10.0	-9.9%
Depreciation and amortisation	75.0	68.0	73.0	+10.3%	+2.7%
Share-based compensation	3.0	6.0	1.0	-50.0%	+200.0%
Dividends paid	43.0	40.0	40.0	+7.5%	+7.5%
Dividend per share	$0.49	$0.49	$0.49	0.0%	+0.6%
Diluted shares, weighted	84m	83m	81m	+0.8%	+3.1%
Shares outstanding at period end	84m	84m	81m	+0.0%	+2.9%

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

Balance sheet

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	2,830	2,821	2,645	+0.3%	+7.0%
Debt	3,365	3,260	3,092	+3.2%	+8.8%
Operating lease liabilities	62.0	61.0	64.0	+1.6%	-3.1%
Finance lease liabilities	29.0	30.0	33.0	-3.3%	-12.1%
Other liabilities	2,411	2,363	2,328	+2.0%	+3.6%
Total liabilities and equity	8,697	8,535	8,162	+1.9%	+6.6%
Goodwill	52.0	52.0	52.0	0.0%	0.0%
Cash and equivalents	32.0	25.0	44.0	+28.0%	-27.3%
Receivables	149	153	155	-2.6%	-3.9%
Inventory	276	264	228	+4.5%	+21.1%
Other assets	8,188	8,041	7,683	+1.8%	+6.6%
Total assets	8,697	8,535	8,162	+1.9%	+6.6%

Questions

What was Avista's revenue in Q3 FY2026?

Avista (AVA) reported revenue of $421 million for Q3 FY2026, the quarter ended 30 September 2026, up 4.5% on the same quarter a year earlier.

How much did Avista earn in Q3 FY2026?

Net income for Q3 FY2026 was $49 million, up 69.0% on the year, and diluted earnings per share $0.57.

When did Avista report Q3 FY2026 results?

Avista filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 4 November 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024 †	Q2 FY2024 †	Q3 FY2024 †	Q4 FY2024 * †	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	432	462	379	359	510	475	380	380	517	609	402	394	533	617	411	403	533	570	413	421
Operating income	70.4	83.0	24.3	19.4	63.6	76.6	43.8	38.1	99.2	101	55.0	49.0	102	125	57.0	60.0	112	134	54.0	66.0
Operating margin	16%	18%	6%	5%	12%	16%	12%	10%	19%	17%	14%	12%	19%	20%	14%	15%	21%	24%	13%	16%
Pre-tax income	53.8	60.7	10.5	-5.6	72.4	48.2	11.7	10.9	66.7	73.0	24.0	18.0	68.0	91.0	15.0	31.0	80.0	105	41.0	56.0
Tax rate	5%	-18%	-10%	n/a	-8%	-14%	-50%	-35%	-26%	3%	4%	0%	0%	13%	7%	6%	11%	12%	15%	12%
Net income	50.9	71.6	11.5	-5.8	78.0	54.8	17.5	14.7	84.1	71.0	23.0	18.0	67.2	79.0	14.0	29.0	71.0	92.0	35.0	49.0
Net margin	12%	15%	3%	-2%	15%	12%	5%	4%	16%	12%	6%	5%	13%	13%	3%	7%	13%	16%	8%	12%
Diluted EPS	$0.72	$0.99	$0.16	-$0.08	$1.05	$0.73	$0.23	$0.19	$1.09	$0.91	$0.29	$0.23	$0.86	$0.98	$0.17	$0.36	$0.87	$1.11	$0.43	$0.57
Operating cash flow	38.4	162	44.1	4.5	-86.2	94.2	175	124	53.8	190	127	127	89.8	184	40.0	170	75.0	179	122	134
Capital expenditure	117	96.0	115	121	121	100	126	133	139	119	132	154	128	103	143	133	191	150	176	185
Free cash flow	-78.7	65.9	-70.6	-116	-207	-6.2	49.1	-8.8	-85.6	71.1	-5.7	-27.0	-37.8	81.0	-103	37.0	-116	29.0	-54.0	-51.0
Dividends paid	30.0	32.0	32.1	32.2	32.8	35.0	34.9	35.2	35.8	38.0	37.3	37.4	37.5	40.0	39.0	40.0	40.0	41.0	40.0	43.0
Shares outstanding	71m	72m	73m	74m	75m	76m	77m	77m	78m	78m	79m	79m	80m	81m	81m	81m	82m	83m	84m	84m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	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.

10-Q for the period ended 30 September 2026, filed 4 November 2026: the filing.