Pinnacle West Q1 EPS beats estimates on higher usage

Pinnacle West Capital

04/05/2026 13:35

Overview

US electric utility's Q1 net income swung to profit on higher customer usage and growth

Q1 EPS beat analyst expectations

Company cites hotter weather, higher transmission revenues, and customer growth as key drivers

Outlook

Pinnacle West estimates 2026 consolidated EPS between $4.55 and $4.75 on weather-normalized basis

Company says infrastructure investments and resource additions support reliability for upcoming summer

Pinnacle West expects robust customer growth and strong Arizona economy to drive future demand

Result Drivers

WEATHER IMPACT - Unusually warm winter and record March temperatures drove higher customer energy usage, according to CEO Ted Geisler

CUSTOMER GROWTH - 2.2% increase in customer base contributed to higher sales and usage

LOWER O&M EXPENSES - Lower operations and maintenance expenses supported improved results

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Operating Revenue
$1.15 bln
Q1 EPS
Beat
$0.27
-$0.01 (9 Analysts)
Q1 Net Income Attributable To Common Shareholders
$32.9 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 4 "strong buy" or "buy", 13 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the electric utilities peer group is "buy."

Wall Street's median 12-month price target for Pinnacle West Capital Corp is $106.00, about 2.4% above its May 1 closing price of $103.54

The stock recently traded at 21 times the next 12-month earnings vs. a P/E of 20 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)