Pinnacle West Capital Corporation’s Q4 2024 Earnings Conference Call: Key Insights
On February 25, 2025, Pinnacle West Capital Corporation (PNW) held its fourth quarter 2024 earnings conference call. The call was led by Jeffrey Guldner, Chairman, President, and CEO, with contributions from Ted Geisler, President of Arizona Public Service Company, and Andrew Cooper, Senior Vice President and CFO of Pinnacle West Capital Corporation and Arizona Public Service Company. Participants included analysts Julien Dumoulin-Smith from Jefferies, Michael Lonegan from Evercore ISI, Travis Miller from Morningstar Inc., and Christopher Ellinghaus from Siebert Williams Shank & Co.
Company Performance
During the call, Pinnacle West reported solid financial results for the fourth quarter, with revenue coming in at $3.2 billion, up 5% year over year. Net income was reported at $525 million, representing a 6% increase from the same period in 2023. Earnings per share (EPS) came in at $1.53, surpassing analysts’ expectations of $1.48.
Arizona Public Service Company (APS)
APS, a subsidiary of Pinnacle West, reported an operating revenue of $2.3 billion, up 4% from the previous year. The utility company’s customer base grew by 2% in the quarter, reaching a total of 1.3 million. The increase in revenue was attributed to higher electricity sales and increased rates due to regulatory approvals. APS also announced plans to invest $4.5 billion in renewable energy and infrastructure improvements over the next five years.
Impact on Shareholders
The strong earnings report sent Pinnacle West’s stock price up by 3% in after-hours trading following the conference call. The company’s solid financial performance and commitment to investing in renewable energy are positive signs for shareholders.
Impact on the World
The energy sector as a whole has been undergoing significant changes, with a growing focus on renewable energy and sustainability. Pinnacle West’s commitment to investing $4.5 billion in renewable energy and infrastructure improvements over the next five years is a step in the right direction towards a more sustainable energy future. This investment could also create jobs in the renewable energy sector and contribute to economic growth.
Conclusion
Pinnacle West Capital Corporation reported strong financial results for the fourth quarter of 2024, with revenue and net income both up 5% and 6% year over year, respectively. The utility company, Arizona Public Service Company, also reported growth in customer base and revenue. The commitment to investing in renewable energy and infrastructure improvements is a positive sign for both shareholders and the world as a whole, contributing to a more sustainable energy future.
- Pinnacle West Capital Corporation reported strong financial results for Q4 2024, with revenue up 5% and net income up 6%.
- APS, a subsidiary of Pinnacle West, reported a 4% increase in operating revenue and a 2% growth in customer base.
- The commitment to investing $4.5 billion in renewable energy and infrastructure improvements over the next five years is a positive sign for both shareholders and the world.
- The strong earnings report sent Pinnacle West’s stock price up by 3% in after-hours trading.
