Pinnacle West Capital Corporation earnings overview

PNW FY2026 Q1 · Calendar Q2 2026

Pinnacle West Capital Corporation

Pinnacle West's Q1 2026 results reflect accelerating demand from Arizona's semiconductor and data-center buildout. Weather-normalized sales growth of 9.4% and customer growth of 2.2% YoY drove Q1 EPS of $0.27, reversing a prior-year loss and exceeding consensus estimates. Management maintained full-year 2026 EPS guidance of $4.55-$4.75, supported by $850M in secured equity funding and an expanding capital program. The pending rate case and August IRP filing are central to closing the 200-basis-point gap between EPS growth and rate-base CAGR.