Pinnacle West Capital rises after beating Q4 revenue estimates

Pinnacle West Capital

25/02/2025 17:39

** Shares of utility firm Pinnacle West Capital PNW.N up 1.2% at $93.25

** Co posts Q4 revenue of $1.09 billion, beating est of $1.04 billion - data compiled by LSEG

** Co said its profits were helped by higher rates and more customer additions

** However, company's Q4 net loss attributable to common shareholders widens to $6.8 million compared with a loss of $23,000 a year ago

** PNW's largest subsidiary Arizona Public Service (APS) expects to add 9,805 megawatts of renewable power, battery storage and natural gas to the grid between 2025 and 2028

** Company expects electricity sales to increase between 4% and 6% annually over the next three years

     ** Including session's moves, shares up 9.52% YTD

 (Reporting by Katha Kalia)

 ((katha.kalia@thomsonreuters.com))