August 8, 2012 in Idaho

Avista Corp.

Natural gas and electric utility
Stock symbol: AVA
Reporting period: 2Q

Profit of $18.2 million

31 cents per share

Versus 2Q 2011:

Profit of $23 million

39 cents per share

Revenue: $343.6 million
Analysis: Warmer weather this spring reduced retail loads and utility earnings compared to the second quarter of 2011, said Scott Morris, chairman and CEO. Continued weakness in the economy and lower demand from certain industrial customers also played a role. Morris said the decline in retail loads was partially offset by rate increases and a decrease in the company’s operating costs. Meanwhile, low wholesale power costs are benefiting customers, he said.

Get stories like this in a free daily email

Please keep it civil. Don't post comments that are obscene, defamatory, threatening, off-topic, an infringement of copyright or an invasion of privacy. Read our forum standards and community guidelines.

You must be logged in to post comments. Please log in here or click the comment box below for options.

comments powered by Disqus