Pinnacle West Capital Corporation (PNW) Earnings Call Transcripts
Pinnacle West Capital Corporation's Latest Earnings Call - Q2 FY2026
In the second quarter of 2026, Pinnacle West Capital Corporation (PNW) reported earnings of $1.43 per share, down $0.15 year-over-year, with revenue driven by strong customer growth and favorable weather conditions. The company achieved a 2.1% increase in customer count and a 9.6% rise in weather-normalized sales. Management reiterated its earnings guidance for the year, expecting to finish at the top end of the range of $4.55 to $4.75 per share, signaling confidence in ongoing operational performance despite challenges from increased interest expenses and depreciation.
Reported metrics
| Metric | Value |
|---|---|
| Earnings Per Share (EPS) | $1.43 (miss) |
| Customer Growth | 2.1% (positive) |
| Weather-Normalized Sales Growth | 9.6% (positive) |
| Capital Expenditures | $400 million (positive) |
| Interest Expense | Increased (negative) |
| Depreciation and Amortization | Increased (negative) |
Guidance from management
Management reiterated its earnings guidance for 2026, expecting to finish at the top end of the range of $4.55 to $4.75 per share, while not updating sales growth guidance at this time.
What management said
Yes, Steve, I think directionally, that's probably a fair general assumption, but we're still working through the details of what each fab will require as well as the ramp schedule of that. And certainly, the fabs do differ with respect to the type of chips they manufacture and the energy intensity. The more advanced the chips tends to be the more energy intensive. And so I think there could be variation to that rule...
What analysts pressed on
Analysts expressed concerns regarding the sustainability of the current sales growth rates, particularly in light of potential weather variability and the impact of increased interest expenses on profitability. There were also questions about the timing and implications of the upcoming IRP filing.
Main topics on the call
- Customer Growth and Sales Performance — Pinnacle West saw a 2.1% increase in customer growth and a 9.6% rise in weather-normalized sales, contributing approximately $0.11 to earnings. Management noted, "This was a robust quarter from a sales growth perspective...
- Cholla Power Plant Conversion — The company announced plans to convert two retired coal-fired units at the Cholla power plant to natural gas, expected to provide approximately 380 megawatts of reliable generation by 2029. This aligns with their strateg...
- Rate Case Progress — Pinnacle West is in the briefing phase of its rate case, with initial briefs due August 27. Management expressed confidence in achieving a constructive outcome, stating, "We have very strong evidence on the record for su...
- TSMC Investment Impact — The announcement of Taiwan Semiconductor Manufacturing Company's additional $100 billion investment in Arizona is expected to significantly impact future demand. Management indicated that this would be included in their ...
Read the full Pinnacle West Capital Corporation transcript (Q2 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.
About Pinnacle West Capital Corporation
Pinnacle West Capital Corporation (PNW) is a publicly listed company in the Electric Utilities industry, within the Utilities sector. It trades on NYSE and is based in US. EarningsCalls.dev maintains a free, full-text archive of its earnings call transcripts — 27 calls on record spanning February 21, 2020 to August 4, 2026. Every transcript is split into speaker-by-speaker segments with headline metrics, free to read or available through our REST API.
Earnings Call History
EarningsCalls.dev has 27 Pinnacle West Capital Corporation earnings call transcripts on record, spanning February 21, 2020 to August 4, 2026. Based on this history, Pinnacle West Capital Corporation reports quarterly. The most recent call on file is dated August 4, 2026. The full list is below — each row opens the complete, free-to-read transcript.
- Ticker
- PNW
- Exchange
- NYSE
- Country
- US
- Sector
- Utilities
- Industry
- Electric Utilities
- Calls on record
- 27
- First call
- February 21, 2020
- Most recent
- August 4, 2026
- Reporting cadence
- quarterly