Quarterly ResultMay 4, 2026, 08:27 AM
Pinnacle West Q1 Net Income $32.9M; EPS $0.27 vs. Loss Last Year
AI Summary
Pinnacle West Capital Corp. reported consolidated net income attributable to common shareholders of $32.9 million, or $0.27 per diluted share, for the first quarter ended March 31, 2026. This marks a significant turnaround from a net loss of $4.6 million, or $0.04 per diluted share, in the same period of 2025. The improved results were primarily driven by higher transmission revenues, lower operations and maintenance expenses, favorable weather conditions, and robust customer growth. The company also reaffirmed its 2026 consolidated earnings guidance of $4.55 to $4.75 per diluted share on a weather-normalized basis.
Key Highlights
- Pinnacle West reported Q1 2026 net income of $32.9 million, a significant improvement from a $4.6 million net loss in Q1 2025.
- Diluted EPS for Q1 2026 was $0.27, compared to a loss of $0.04 per diluted share in Q1 2025.
- Operating revenues increased to $1,149.6 million in Q1 2026 from $1,032.3 million in Q1 2025.
- Customer growth reached 2.2%, contributing to strong demand.
- Weather-normalized retail electricity sales grew by 9.4% during the quarter.
- The company reaffirmed its 2026 consolidated EPS guidance range of $4.55 to $4.75 per diluted share.
- Operating income rose to $131.2 million in Q1 2026 from $57.2 million in Q1 2025.