Avista Corporation (AVA) shares plunged 5.05% in pre-market trading on Wednesday following the release of disappointing second-quarter results and a lowered full-year outlook. The utility company's earnings fell short of analyst expectations, prompting investors to reassess their positions.

Avista reported second-quarter earnings of $0.17 per share, significantly below the consensus estimate of $0.31 and down from $0.29 in the same period last year. Revenue for the quarter came in at $400 million, slightly missing the expected $411.4 million. The company attributed the decline in net income primarily to unrealized losses in its clean technology investments.

Adding to investor concerns, Avista now expects its full-year earnings to be at the low end of its previously announced consolidated range of $2.52 to $2.72 per share. This adjustment is largely due to the $0.15 per share in losses from other businesses recorded in the first half of the year. Despite the overall downward revision, the company noted that its core utility business is performing well, with Avista Utilities' results expected to be toward the upper end of its guidance range. However, the strong utility performance is not enough to offset the impact of investment losses on the company's consolidated earnings.