Avista Q2 Profit Declines, Reaffirms Earnings View For Remainder Of The Year

(RTTNews) - Avista Corp. (AVA) Wednesday reported a decline in second quarter net income attributable to the company to $21.77 million from $27.25 million a year ago. On a per share basis, earnings were $0.34, down from $0.43 in the prior year.

On average, 4 analysts polled by Thomson Reuters expected the company to earn $0.38 per share. Analysts estimates usually exclude special items.

Revenue for the quarter edged down to $314.5 million from $318.84 million in the previous year. Analysts expected the company to record earnings of $326.33 million.

Looking ahead, the company confirmed its earnings guidance for the remainder of the year in a range of $1.80 to $2.00 per share. The company further said it expect to be in the upper half of this range, excluding merger transaction costs.