Avista Q4 Earnings Trounce Estimates; Backs FY14 View

(RTTNews) - Energy company Avista Corp. (AVA) Wednesday reported a rise in earnings and revenues for the fourth quarter amid colder than normal weather in the period. Earnings also surpassed analysts' estimates.

Further, the company confirmed its earnings outlook of $1.77 to $1.97 per share for 2014.

For the fourth quarter, earnings attributable to shareholders surged to $31.67 million or $0.53 per share, from $15.86 million or $0.26 per share.

On average, 2 analysts polled by Thomson-Reuters estimated the company's earnings to be $0.46 for the quarter. Analysts' estimates typically exclude one-time items.

Operating revenues for the 3-month period decreased to $447.68 million from $410.53 million a year earlier.

For the year 2013, earning attributable to shareholders rose to $111.08 million or $1.85 per share, from $78.2 million or $1.32 per share in 2012. Annual operating revenues advanced to $1.618 billion from $1.547 billion last year.