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Dec 31, 2024
Pinnacle West Q4 2024 Earnings Report
Pinnacle West reported a net loss in Q4 2024 due to higher expenses and interest charges despite revenue growth.
Key Takeaways
Pinnacle West reported a consolidated net loss of $6.8 million for Q4 2024, translating to a loss of $0.06 per diluted share. Revenue for the quarter grew 10.5% year-over-year to $1.1 billion, driven by increased customer demand and rate adjustments. However, higher operations and maintenance costs, depreciation, and interest expenses negatively impacted profitability. Retail electricity sales grew by 5.7% year-over-year, and customer growth remained strong at 2.1%.
Revenue increased 10.5% year-over-year to $1.1 billion.
Net loss of $6.8 million, compared to near breakeven in Q4 2023.
Retail electricity sales grew by 5.7% year-over-year.
Customer base expanded by 2.1%, supporting long-term growth.
Revenue by Geographic Location
Forward Guidance
Pinnacle West expects steady growth driven by increasing demand, but faces cost pressures and regulatory risks.
Positive Outlook
- Forecasted EPS for 2025 between $4.40 and $4.60.
- Retail electricity sales expected to grow between 4% and 6% annually.
- Projected continued customer growth in the 1.5% to 2.5% range.
- Expansion of renewable energy capacity with planned additions of 9,805 MW.
- Strong operational performance of the Palo Verde Generating Station supporting clean energy goals.
Challenges Ahead
- Higher operating and maintenance costs expected to persist.
- Regulatory and policy uncertainties may impact future revenue recovery.
- Rising interest expenses could affect profitability.
- Potential variability in customer energy consumption patterns.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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