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Dec 31, 2019
Pinnacle West Q4 2019 Earnings Report
Pinnacle West's Q4 2019 earnings increased due to customer growth, infrastructure investments, and cost management.
Key Takeaways
Pinnacle West reported higher consolidated net income attributable to common shareholders of $64.0 million, or $0.57 per diluted share, for the quarter ended December 31, 2019, compared to $26.1 million, or $0.23 per share, for the same period a year ago. The company's customer base grew two percent, and investments were made in expanding and strengthening infrastructure.
Earnings reflected customer growth, infrastructure investments, and cost management.
Pinnacle West made the 'A List' for action on climate change and water security.
The company set a course for 100 percent clean energy.
Service reliability for power customers reached a company best.
Forward Guidance
The company reaffirms its 2020 estimated consolidated earnings will be within a range of $4.75 to $4.95 per diluted share, and expects to achieve a weather-normalized, consolidated earned return on average common equity of more than 9.5 percent.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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