Avista Corp.
Natural gas and electric utility
| Stock symbol: AVA |
| Reporting period: 2Q |
| Earnings:
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. |