Avista Lowers FY20 EPS Outlook Amid COVID-19 - Quick Facts

(RTTNews) - While reporting financial results for the first quarter on Friday, energy company Avista Corp. (AVA) said it is lowering its consolidated earnings guidance for the full-year 2020 to reflect regulatory items, expected net impacts from COVID-19, and losses at our non-utility businesses.

For fiscal 2020, the company now projects consolidated earnings in a range of $1.75 to $1.95 per share, a decrease from the prior guidance range of $1.95 to $2.15 per share.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $1.99 per share for the year. Analysts' estimates typically exclude special items.

The company said its other business experienced a net loss during the first quarter due to impairment losses. It is also expecting additional losses at non-utility businesses for the remainder of the year due to overall market declines, including the impacts of COVID-19.