Pinnacle West Capital (PNW)
NYSE:PNW
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Earnings Data
Report Date
Jul 30, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
1.48Last Year’s EPS
1.58Same Quarter Last Year
Based on 11 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a largely positive operational and financial picture: management reported a clear earnings recovery, strong weather-normalized sales (9.4%) and customer growth (2.2%), meaningful transmission revenue contribution ($0.16/share), progress on major generation/transmission projects (Red Hawk ~400 MW; Desert Sun), de-risked near-term equity funding (~$850M priced), and maintained credit ratings. Offsetting factors include higher interest expense, smaller contribution from a portfolio investment, rising depreciation, regulatory lag and execution uncertainty related to the 20 GW uncommitted queue and pending rate case, and continued capital needs through 2028. Overall, the favorable top-line growth, project execution, and funding progress materially outweigh the manageable financial and regulatory headwinds.Company Guidance
Earnings Recovery
Reported EPS of $0.27 in Q1 2026 versus a loss of $0.04 in Q1 2025 (improvement of $0.31 per share), driven by higher transmission revenue, favorable weather, higher sales/usage, and lower O&M.
Transmission Revenue Contribution
Transmission revenues provided a direct benefit of $0.16 per share in the quarter, reflecting stepped-up transmission investments and a trajectory aligned with full-year guidance.
Strong Sales and Customer Growth
Weather-normalized sales growth of 9.4% for the quarter (including C&I growth of 14.6% and residential growth of 1.8%); customer growth of 2.2% for the quarter, near the high end of annual customer-growth guidance.
Weather Favorability Boost
Weather was a meaningful tailwind, contributing $0.13 per share benefit in Q1 due to a very hot March (National Weather Service: March hottest on record with nine days ≥100°F), increasing residential and commercial cooling usage.
Large-Load Opportunity and Pipeline
Committed extra-high load customers total ~4.5 GW; uncommitted queue remains elevated at nearly 20 GW, creating a substantial pipeline and upside for future contracted load growth and resource needs.
Progress on Key Generation & Transmission Projects
Construction underway at Red Hawk expansion (adds eight combustion turbines ≈400 MW natural gas capacity); Desert Sun development progressing with major equipment reservations and siting/permitting; Palo Verde Unit 2 returning to service so all three units will be operating for summer reliability.
Customer Satisfaction and Program Awareness
APS ranked in the first or second quartile across Escalent core KPIs, first quartile with J.D. Power, and received the highest national awareness score for available customer programs, signaling strong customer engagement.
Capital & Funding De-risking
All 2026 equity funding needs completed; nearly $850 million of priced equity available (including >$350 million priced in Q1). Management has de-risked a multi-year equity plan and maintains a balanced mix of debt/equity financing; positive conversations with all three rating agencies preserved current ratings and stable outlooks.
Guidance and Long-Term Growth Outlook Maintained
Management reaffirmed 2026 sales-growth guidance of 4%–6% and long-term sales-growth target of 5%–7% through 2030; reiterated full-year transmission and financial guidance.
PNW Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
PNW Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 04, 2026 | $102.63 | $101.82 | -0.79% |
Feb 25, 2026 | $99.17 | $98.91 | -0.26% |
Nov 03, 2025 | $86.00 | $87.80 | +2.10% |
Aug 06, 2025 | $89.71 | $89.92 | +0.24% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Pinnacle West Capital (PNW) report earnings?
Pinnacle West Capital (PNW) is schdueled to report earning on Jul 30, 2026, Before Open (Confirmed).
What is Pinnacle West Capital (PNW) earnings time?
Pinnacle West Capital (PNW) earnings time is at Jul 30, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is PNW EPS forecast?
PNW EPS forecast for the fiscal quarter 2026 (Q2) is 1.48.