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Dec 31, 2020
Pinnacle West Q4 2020 Earnings Report
Pinnacle West reported a net loss for Q4 2020 due to a settlement and accelerated operations and maintenance expenses, despite robust customer growth and strong operational performance throughout the year.
Key Takeaways
Pinnacle West reported a net loss of $19.4 million, or a loss of $0.17 per diluted share, for the quarter ended December 31, 2020. This compares to a net income of $64.0 million, or $0.57 per share, for the same period in 2019. The loss was primarily driven by a settlement with the Arizona Attorney General’s Office and accelerated operations and maintenance expenses.
Pinnacle West reported a net loss for Q4 2020, contrasting with a net income in Q4 2019.
The Q4 loss was attributed to a settlement and accelerated operations and maintenance expenses.
Full-year results reflected record heat, superior operational performance, and continued cost management.
Annual retail customer growth was a robust 2.3%.
Revenue by Geographic Location
Forward Guidance
Moving into 2021, the company remains focused on improving customers’ experience through the APS Promise.
Positive Outlook
- Focused on improving customers’ experience.
- APS Promise is a commitment to customers and community.
- Customer-focused mindset.
- Continuing ongoing cost-management efforts.
- Increasing customer satisfaction.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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