Avista reports strong third quarter earnings

The lights are still on. 

Avista Corp. released its earnings for the third quarter of 2026. Its numbers showed that net income has risen to $49 million compared to $29 million during the same period last year. Avista also reported earnings of 57 cents per diluted share, up from 36 cents in the same third quarter period in 2025.

Non-GAAP utility earnings, which include or exclude certain items that can affect reported profits, totaled $33 million, three million more dollars than a year ago. Utility earnings per diluted share increased from 37 to 38 cents.

The increase in overall net income was driven by improved investments in Avista’s other businesses. The company reported losses in the first nine months of 2025, but saw investment gains the first nine months of 2026.

Avista has reported a net income of $176 million this year after earning $122 million last year. The non-GAAP utility earnings totaled $147 million compared to $135 million a year ago.

As for capital expenditures, Avista has spent $496 million through the first three quarters of 2026 and expects that number to reach $615 million by the end of the year. It projects capital expenditures to reach $800 million by 2028, then dip down to $710 million by 2030.

“Utility earnings for the third quarter remain on track for the year,” Avista President and CEO Heather Rosentrater said. “Through our ongoing focus on strategic execution and cost management, we continue to expect to be at the midpoint of our non-GAAP utility earnings guidance for 2026.”