PNW Stock - Pinnacle West Capital Corporation
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Financial Statements
| Metric | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Revenue | $5.12B | $4.70B | $4.32B | $3.80B | $3.59B |
| Gross Profit | $2.14B | $1.84B | $1.71B | $1.70B | $1.63B |
| Gross Margin | 41.7% | 39.3% | 39.5% | 44.6% | 45.6% |
| Operating Income | $1.01B | $824.64M | $731.91M | $805.31M | $788.15M |
| Net Income | $608.81M | $501.56M | $483.60M | $618.72M | $550.56M |
| Net Margin | 11.9% | 10.7% | 11.2% | 16.3% | 15.3% |
| EPS | $5.35 | $4.42 | $4.27 | $5.48 | $4.89 |
Pinnacle West Capital Corporation, through its subsidiary, Arizona Public Service Company, provides retail and wholesale electric services primarily in the state of Arizona. The company engages in the generation, transmission, and distribution of electricity using coal, nuclear, gas, oil, and solar generating facilities. Its transmission facilities include approximately 5,814 pole miles of overhead lines and approximately 74 miles of underground lines; and distribution facilities comprise approximately 11,258 miles of overhead lines and approximately 22,821 miles of underground primary cable, as well as owns and maintains 475 transmission and distribution substations. The company also owns or leases approximately 6,323 megawatts of regulated generation capacity. It serves approximately 1.3 million customers. Pinnacle West Capital Corporation was incorporated in 1985 and is headquartered in Phoenix, Arizona.
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Price Targets
Recent Analyst Actions
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| December 12th 2025 | KeyBanc Capital Markets | Downgrade | Sector Weight | - |
| October 28th 2025 | RBC Capital Mkts | Resumed | Sector Perform | $99 |
| October 28th 2025 | Wells Fargo | Initiation | Equal Weight | $92 |
| October 16th 2025 | TD Cowen | Initiation | Hold | $97 |
| September 9th 2025 | Mizuho | Downgrade | Neutral | $90 |
| May 13th 2025 | BMO Capital Markets | Initiation | Market Perform | $95 |
| December 4th 2024 | KeyBanc Capital Markets | Upgrade | Overweight | $101 |
| November 18th 2024 | Barclays | Downgrade | Equal Weight | $91← $93 |
| September 20th 2024 | Jefferies | Initiation | Buy | $104 |
| June 6th 2024 | Ladenburg Thalmann | Upgrade | Buy | $83.5← $74 |
| April 29th 2024 | Citigroup | Initiation | Neutral | $78 |
| March 18th 2024 | BofA Securities | Upgrade | Buy | $80← $71 |
| March 11th 2024 | UBS | Upgrade | Neutral | $71← $68 |
| February 14th 2024 | Ladenburg Thalmann | Initiation | Neutral | $69 |
| January 22nd 2024 | Guggenheim | Upgrade | Buy | $78 |
Earnings History & Surprises
PNWEPS Surprise History
Quarterly EPS Details
| Period | Report Date | Estimated EPS | Actual EPS | Surprise | Result |
|---|---|---|---|---|---|
Q2 2026 | Apr 29, 2026 | — | — | — | — |
Q1 2026 | Feb 24, 2026 | $-0.01 | — | — | — |
Q4 2025 | Nov 3, 2025 | $3.04 | $3.39 | +11.5% | ✓ BEAT |
Q3 2025 | Aug 6, 2025 | $1.58 | $1.58 | 0.0% | = MET |
Q2 2025 | May 1, 2025 | $0.05 | $-0.04 | -180.0% | ✗ MISS |
Q1 2025 | Feb 25, 2025 | $-0.31 | $-0.06 | +80.6% | ✓ BEAT |
Q4 2024 | Nov 6, 2024 | $3.49 | $3.37 | -3.4% | ✗ MISS |
Q3 2024 | Aug 1, 2024 | $1.25 | $1.76 | +40.8% | ✓ BEAT |
Q2 2024 | May 2, 2024 | $0.01 | $0.15 | +1908.0% | ✓ BEAT |
Q1 2024 | Feb 27, 2024 | $-0.13 | $-0.00 | +99.8% | ✓ BEAT |
Q4 2023 | Nov 2, 2023 | $3.41 | $3.50 | +2.6% | ✓ BEAT |
Q3 2023 | Aug 3, 2023 | $1.19 | $0.94 | -21.0% | ✗ MISS |
Q2 2023 | May 4, 2023 | $-0.01 | $-0.03 | -181.4% | ✗ MISS |
Q1 2023 | Feb 27, 2023 | $-0.18 | $-0.21 | -16.7% | ✗ MISS |
Q4 2022 | Nov 3, 2022 | $2.60 | $2.88 | +10.8% | ✓ BEAT |
Q3 2022 | Aug 3, 2022 | $1.32 | $1.45 | +9.8% | ✓ BEAT |
Q2 2022 | May 4, 2022 | $0.06 | $0.15 | +150.0% | ✓ BEAT |
Q1 2022 | Feb 25, 2022 | $0.06 | $0.24 | +300.0% | ✓ BEAT |
Q4 2021 | Nov 5, 2021 | $2.79 | $3.00 | +7.5% | ✓ BEAT |
Q3 2021 | Aug 5, 2021 | $1.65 | $1.91 | +15.8% | ✓ BEAT |
Latest News
UBS Maintains Neutral on Pinnacle West Capital, Raises Price Target to $95
➖ NeutralKeybanc Downgrades Pinnacle West Capital to Sector Weight
📉 NegativePinnacle West Capital Sees FY2026 Adj EPS $4.55-$4.75 vs $4.72 Est
➖ NeutralPinnacle West Capital Raises FY2025 Adj EPS Guidance from $4.40-$4.60 to $4.90-$5.10 vs $4.59 Est
📈 PositivePinnacle West Capital Q3 EPS $3.39 Beats $3.08 Estimate, Sales $1.821B Beat $1.797B Estimate
📈 PositiveWells Fargo Initiates Coverage On Pinnacle West Capital with Equal-Weight Rating, Announces Price Target of $92
➖ NeutralRBC Capital Reinstates Sector Perform on Pinnacle West Capital, Announces $99 Price Target
➖ NeutralKeybanc Maintains Overweight on Pinnacle West Capital, Lowers Price Target to $97
➖ NeutralUBS Maintains Neutral on Pinnacle West Capital, Raises Price Target to $101
➖ NeutralBarclays Maintains Equal-Weight on Pinnacle West Capital, Raises Price Target to $95
➖ NeutralArgus Research Maintains Buy on Pinnacle West Capital, Lowers Price Target to $95
➖ NeutralMorgan Stanley Maintains Equal-Weight on Pinnacle West Capital, Lowers Price Target to $87
➖ NeutralUBS Maintains Neutral on Pinnacle West Capital, Lowers Price Target to $95
➖ NeutralMizuho Downgrades Pinnacle West Capital to Neutral, Lowers Price Target to $90
📉 NegativeFrequently Asked Questions about PNW
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