Pinnacle West Capital posts Q1 profit on customer growth, new rates [Reuters]
Pinnacle West Capital Corporation (PNW)
Last pinnacle west capital corporation earnings: 2/21 08:40 am
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Source: Reuters
Utility companies use General Rate Case (GRC) proceedings to increase consumer electricity prices to ask for an increase in rates on the basis of its total cost of providing service. The Phoenix, Arizona-based utility said it also benefited from the utility's 2019 rate case and higher income due to the sale of a former subsidiary along with the impact of new retail base rates which took effect on March 8. Through its principal subsidiary, Arizona Public Service, the company provides retail electricity service to approximately 1.4 million Arizona homes and businesses. Pinnacle said net income attributable to common shareholders rose to $16.9 million, or 15 cents per share, for the quarter ended March 31, from a net loss of $3.3 million, or a loss of 3 cents per share, a year earlier. "The first quarter proved to be a strong start to our year and continued to build on the momentum of a growing and diverse customer base," said Pinnacle West Chief Executive Officer Jeff Guldner,
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PNW
News
- Pinnacle West Capital Co. (NYSE: PNW) had its price target raised by analysts at Barclays PLC from $76.00 to $81.00. They now have an "overweight" rating on the stock.MarketBeat
- Why Pinnacle West (PNW) is a Top Momentum Stock for the Long-Term [Yahoo! Finance]Yahoo! Finance
- Here's Why Pinnacle West (PNW) is a Strong Growth Stock [Yahoo! Finance]Yahoo! Finance
- Pinnacle West Capital Corporation (NYSE:PNW) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Pinnacle West Capital Co. (NYSE: PNW) had its price target raised by analysts at Wells Fargo & Company from $74.00 to $77.00. They now have an "equal weight" rating on the stock.MarketBeat
PNW
Earnings
- 5/2/24 - Beat
PNW
Sec Filings
- 5/6/24 - Form DEFA14A
- 4/4/24 - Form DEFA14A
- 4/4/24 - Form DEF
- PNW's page on the SEC website