Avista Corp. has reported a rise in earnings for full-year 2024 despite a decline in net income during the fourth quarter. 

Avista’s fourth-quarter net income came in at $67 million, or 84 cents a share, down from $84 million, or $1.08 a share, in the year-earlier period.

The Spokane-based energy company posted full-year 2024 income of $180 million, or $2.29 per diluted share, up from $171 million, or $2.24 per share, in 2023.

“Our utility operations led continued improvement in our consolidated earnings, even with the headwinds we experienced from higher power supply and operating costs during the year,” says Avista President and CEO Heather Rosentrater in a press release. “We laid a strong foundation in 2024, with record levels of capital investment to better serve our customers.”

Avista’s capital expenditures exceeded $530 million in 2024.

The company is initiating its 2025 earnings guidance with a consolidated range of $2.52 to $2.72 per share.

Avista (NYSE: AVA) stock traded at $39.92 per share at the close of the market on Feb. 26, up from its 52-week low of $32.70 and just below its 52-week high of $40.11.

The company’s Avista Utilities division provides electric service to about 422,000 customers and natural gas to about 383,000 customers across eastern Washington, northern Idaho, and parts of southern and eastern Oregon.