Pinnacle West Q1 net income $16.9M vs. loss a year ago; reaffirms FY guidance

ARIZONA PUBLIC SERVICE CO

Q1 2024 diluted EPS $0.15 vs. -$0.03 in Q1 2023; net income $16.9M.
Customer growth of 1.8% YoY; weather-normalized sales up 5.9%.
Benefited from new retail base rates effective March 8, 2024 and sale of former subsidiary.
Full-year 2024 EPS guidance reaffirmed at $4.60-$4.80 on weather-normalized basis.
Ongoing headwinds: higher depreciation, interest, and O&M expense.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ARIZONA PUBLIC SERVICE CO reported for the quarter ended March 31, 2024 results: net income $16.9 million, EPS $0.15 per diluted share of common stock. Guidance reaffirmed.

Period: for the quarter ended March 31, 2024
Net income: $16.9 million
EPS: $0.15 per diluted share of common stock
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Pinnacle West Capital Corp. (NYSE: PNW) today reported consolidated net income attributable to common shareholders of $16.9 million, or $0.15 per diluted share of common stock, for the quarter ended March 31, 2024.

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Source: SEC EDGAR

accession 0000764622-24-000043

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