Avista Corp. (NYSE: AVA) has reported second-quarter net income of $14 million, or 17 cents per diluted share, a $9 million decrease compared to Q2 2024.

Year-to-date, the Spokane-based energy company has posted net income of $93 million, down from $94 million in the same period last year.

“Our year-to-date results underscore the strength of our core utility operations,” says Avista President and CEO Heather Rosentrater in a press release. “We are disappointed by the lower valuations in our investment portfolio during the second quarter, primarily related to our clean technology investments. The value of these investments was negatively impacted by shifting public policy and sentiment.”

The company’s utility operations remained steady in the second quarter, with its operating division, Avista Utilities, delivering net income of $23 million, down $1 million from Q2 2024.

“We expect Avista Utilities' results to be toward the upper end of our guidance, evidence of our continued strategic progress. On a consolidated basis, we expect to be at the low end of our range for 2025 as a result of the unrealized losses on our investments,” Rosentrater says.

Avista Utilities provides electric service to approximately 423,000 customers and natural gas to 383,000 customers. Its service territory covers 30,000 square miles in Eastern Washington, northern Idaho, and parts of southern and eastern Oregon.

Avista stock traded at $36.67 per share at the close of the market on Aug. 6, up from its 52-week low of $34.80 per share and down from its 52-week high of $43.09 per share.