| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 1.1K | 11.4% |
| Total Income | 1.1K | 11.4% |
| Expenditure | 1.0K | 4.5% |
| PBT | — | |
| Net Profit | 32.92 | 809.5% |
| OPM | 11.41% | 5.87pp |
| NPM | 2.86% | 3.31pp |
| EPS | 0.27 | 775.0% |
Pinnacle West Reports Q1 2026 Net Income of $32.9 Million
04 May 2026 · 4 May, 5:57 pm
Summary
Pinnacle West Capital Corp. reported a net income of $32.9 million, or $0.27 per diluted share, for Q1 2026, compared to a net loss of $4.6 million, or $0.04 per diluted share, for the same period in 2025. The increase is primarily due to higher transmission revenues, lower operations and maintenance expenses, the effects of weather, and customer growth. The company continues to estimate its 2026 consolidated earnings will be within a range of $4.55 to $4.75 per diluted share on a weather-normalized basis. Customer growth remains strong at 2.2%, reflecting a robust Arizona economy.
Key Highlights
- 1
Pinnacle West reported consolidated net income attributable to common shareholders of $32.9 million, or $0.27 per diluted share, for the quarter ended March 31, 2026.
- 2
This compares to a consolidated net loss attributable to common shareholders of $4.6 million, or a loss of $0.04 per diluted share, for the same period in 2025.
- 3
Customer growth of 2.2% continues to underscore a strong Arizona economy.
- 4
The company continues to estimate its consolidated earnings will be within a range of $4.55 to $4.75 per diluted share on a weather-normalized basis for 2026.
- 5
Operating revenues increased to $1,149.6 million compared to $1,032.3 million in the prior year.
Management Comments
Ted Geisler
“Phoenix and much of Arizona just went through its warmest winter on record, and the heat didn’t let up as we moved into spring,” said Pinnacle West Chairman, President and Chief Executive Officer Ted Geisler. “As a result, our first‑quarter results exceeded expectations, with our retail customers using much more energy than they typically would under normal weather conditions.” Geisler said that as new families, businesses, and industries choose Arizona for its opportunities and quality of life, that growth comes with a responsibility to plan ahead, invest wisely and ensure that every community APS serves — rural and urban, large and small — has access to safe and reliable energy. “That responsibility shapes every decision we make, including keeping customer bills as low as possible,” he said.
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