Pinnacle West Q4 2023 Earnings Report
Key Takeaways
Pinnacle West Capital Corp. reported a consolidated net loss attributable to common shareholders of $23,000, or $0.00 per diluted share, for the quarter ended Dec. 31, 2023, compared with a net loss of $24.0 million, or a loss of $0.21 per share, for the same period in 2022. Full-year 2023 net income attributable to common shareholders was $501.6 million, or $4.41 per diluted share.
Full-year financial results positively impacted by weather, customer growth and strong operational performance
Constructive regulatory outcome achieved in 2022 rate case
Company files Transmission System Plan to ensure reliability and meet Arizona’s substantial growth
2024 earnings guidance estimated to be in the range of $4.60 to $4.80 per diluted share on a weather-normalized basis.
Pinnacle West
Pinnacle West
Forward Guidance
The company estimates its consolidated 2024 earnings guidance will be in the range of $4.60 to $4.80 per diluted share on a weather-normalized basis.