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Dec 31, 2021
Pinnacle West Q4 2021 Earnings Report
Pinnacle West's financial results reflected higher customer usage and robust customer growth, but 2022 was expected to be a 'financial reset year' due to an unfavorable rate case decision.
Key Takeaways
Pinnacle West reported consolidated net earnings attributable to common shareholders of $27.6 million, or $0.24 per diluted share, for the quarter ended December 31, 2021. This compares to a net loss of $19.4 million, or a loss of $0.17 per share, for the same period in 2020. The increase was primarily due to the absence of a settlement and shareholders' portion of the coal community transition, both of which were booked in Q4 2020. Mild weather in Q4 2021 was largely offset by increased revenue from higher customer usage and growth.
Financial results reflect higher customer usage and robust customer growth of 2.2%.
2022 to serve as a “financial reset year” following recent rate case decision currently under appeal.
APS employees stay focused on operations and customer service improvements.
Company continues progress on Clean Energy Commitment.
Forward Guidance
The company expects its 2022 full-year ongoing consolidated earnings will be within a range of $3.90 to $4.10 per diluted share on a weather-normalized basis.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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