Pinnacle West Capital Q4 Earnings Call Highlights

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Sat, February 28, 2026 astatine 3:06 PM CST 8 min read

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APS deed a caller strategy highest of 8,648 MW, added much than 34,000 caller meters for a 2nd consecutive year, and reiterated long‑term income maturation of 5%–7% done 2030, with an updated 15‑year IRP owed mid‑year that volition incorporated 4.5 GW of committed load.
Financials: Q4 EPS was $0.13 (vs a $0.06 loss year‑ago) and full‑year EPS was $5.05, portion absorption reiterated 2026 guidance of $4.55–$4.75 EPS and 4%–6% weather‑normalized income growth.
Capital and regulatory plans see completing > 400 MW of owned resources up of schedule, pursuing up to 2 GW of further state capableness by 2030, reaffirming rate‑based maturation of 7%–9% done 2028, with astir $500 million equity priced and $550 million of added revolver capacity, and a complaint lawsuit with hearings slated for May.
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Pinnacle West Capital (NYSE:PNW) reported fourth-quarter and full-year 2025 results highlighting grounds demand, continued lawsuit and load maturation successful Arizona, and advancement connected grid investments and regulatory initiatives. Executives emphasized disciplined execution amid rising highest loads and outlined priorities for 2026, including a pending complaint lawsuit and continued infrastructure enlargement to enactment ample commercialized and concern customers.

Chairman, President and CEO Ted Geisler said the institution served “record levels of demand” successful 2025 with “top-quartile reliability” and a “top-quartile lawsuit experience,” portion managing grid enlargement plans with discipline. He noted information remained the company’s apical priority, pointing to show done Arizona’s “third hottest summertime connected record.”

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APS acceptable a caller strategy highest of 8,648 megawatts connected Aug. 7, much than 400 MW higher than the anterior year, Geisler said. He besides highlighted show astatine Palo Verde, which operated astatine a 100% summertime capableness factor and received a 2025 INPO Excellence Award. Geisler described Palo Verde arsenic the largest producing atomic works successful the U.S.

On lawsuit metrics, absorption pointed to improvements successful restitution and integer engagement. The institution said it deployed an AI-powered “high measure analyzer” aimed astatine helping customers recognize billing and usage, and reported ending 2025 successful the apical quartile nationally among peers for residential wide restitution and successful the 2nd quartile for concern customers, arsenic measured by Escalent. APS besides ranked successful the archetypal quartile successful J.D. Power’s U.S. Utility Digital Experience Study, according to Geisler.

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