Avista Q2 Profit Soars - Quick Facts

(RTTNews) - Energy company Avista Corp. (AVA) reported a sharp surge in its second-quarter 2014 net income attributable to shareholders to $100.9 million, or $1.67 per share, from $25.7 million, or $0.43 per share, last year. On average, 2 analysts polled by Thomson-Reuters estimated the company's earnings to be $0.44 for the quarter. Analysts' estimates typically exclude one-time items.

On a continuing operations basis, quarterly operating revenues reached $312.58 million, versus the previous year's $307.49 million.

Based on the year-to-date results of Avista Utilities, higher expectations for Avista Utilities for the remainder of 2014 and the significant transactions that have occurred to date, the firm raised its 2014 earnings guidance to include the impact of all these items. Consolidated earnings guidance for 2014 is in a range of $3.00 - $3.20 per share. It expects to be near the upper end of this range, including the impacts of the ERM.