Avista Corporation (NYSE:AVA) Q2 2024 Earnings Conference Call August 7, 2024 10:30 AM ET

Company Participants

Stacey Wenz - Investor Relations Manager
Dennis Vermillion - CEO & Director
Heather Rosentrater - President & COO
Kevin Christie - CFO, Treasurer & SVP, Regulatory Affairs

Conference Call Participants

Brian Russo - Jefferies
Willard Grainger - Mizuho

Operator

Good day and thank you for standing by. Welcome to the Avista Corporation Q2 2024 Earnings Conference Call. [Operator Instructions].

I would now like to hand the conference over to your first speaker today, Stacey Wenz, Investor Relations Manager. Please go ahead.

Stacey Wenz

Good morning. Welcome to Avista's second quarter 2024 earnings conference call. Our earnings and second quarter Form 10-Q were released premarket this morning. You can find both on our website. Joining me this morning are Avista Corp's CEO, Dennis Vermillion; President and COO, Heather Rosentrater; Senior Vice President, CFO, Treasurer and Regulatory Affairs Officer, Kevin Christie; and Vice President, Controller and Principal Accounting Officer, Ryan Krasselt.

Today, we will make certain statements that are forward looking. These involve assumptions, risks and uncertainties which are subject to change. Various factors could cause actual results to differ materially from the expectations we discuss in today's call. Please refer to our Form 10-K for 2023 and our Form 10-Q for the second quarter of 2024, which are available on our website for a full discussion of these risk factors.

I'll begin with a recap of the financial results presented in today's press release. Our consolidated earnings for the second quarter of 2024 were $0.29 per diluted share compared to $0.23 for the second quarter of 2023. Year-to-date, consolidated earnings were $1.20 per diluted share compared to $0.96 last year.

Now I'll turn the call over to Dennis.

Dennis Vermillion

Well, thanks, Stacey, and good morning, everyone. Wherever you're listening to this call, I sure hope you're having a good summer. It's certainly been a warm one around here recently.

For the second quarter, Avista utilities delivered earnings in line with our expectations. Our financial results for the quarter and the year and year-to-date speak to our core strength, our utility operations. Because of the work we do every day, we're positioned well to deliver on our commitments to our customers and our shareholders.

We're making the right investments in our infrastructure through enhanced reliability, we're mitigating risk through execution of our wildfire mitigation plan, and we're keeping our focus on achieving our clean energy goals, and Heather is going to have some more on these in a moment.