Avista Corp. Q3 Net Profit Down, Misses Estimates; Backs FY14 EPS Outlook

(RTTNews) - Avista Corp. (AVA) Wednesday posted a decline in its net income attributable to the shareholders, to $10.5 million or $0.16 per share from $11.4 million or $0.19 per share last year. The company suffered a loss of $55 million from discontinued operations in the quarter.

Net income from continuing operations attributable to the company shareholders, rose to $10.5 million or $0.16 per share from $8.5 million or $0.14 per share a year ago.

On average, 2 analysts polled by Thomson-Reuters estimated the company's earnings to be $0.23 per share for the quarter. Analysts' estimates typically exclude one-time items.

Operating revenues improved to $301.55 million from $289.477 million last year.

The company reiterated its earnings outlook for 2014 and continues to expect consolidate earnings per share in a range of $3.00 - $3.20. Analysts expect earnings of $1.88 per share.

Further, the company also initiating its earnings guidance for 2015, and expects consolidated earnings to be in the range of $1.86 - $2.06 per share. Analysts are looking for earnings of $1.97 per share.