PNW 8-K SEC Filing Analysis

Latest settled — T+20d

PNW ▼ -4.26% at T+20d

LONG call ✗ call lost -4.26% · α vs SPY -9.91% · entry $101.82 → $97.48

Next anchor: T+60d in 7w

Currently $102.65 · +0.82% from $101.82 entry

Entry anchored
May 1, 03:59 PM ET
via Databento tick

T+1d

-0.51%

call -0.51% · α -1.31%

$101.30

settled 5w ago

T+5d

-2.07%

call -2.07% · α -5.01%

$99.71

settled 4w ago

T+20d

-4.26%

call -4.26% · α -9.91%

$97.48

settled 8d ago

T+60d

—

call — · α —

—

in 7w

Price Chart

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Executive Summary

Pinnacle West reported a strong Q1 2026 beat, with EPS of $0.27 vs. consensus of -$0.03 and revenue up 11.4% YoY to $1.15B, driven by hotter-than-normal weather and robust customer growth of 2.2%. The company maintained its 2026 EPS guidance of $4.55-$4.75, signaling confidence in full-year outlook.

Actionable Insight

The strong beat and maintained guidance support the stock near-term. Watch for the APS rate case decision expected in late 2026 and any updates on equity dilution from the forward program.

Key Facts

Q1 2026 diluted EPS $0.27 vs. -$0.04 in Q1 2025 (consensus was -$0.03 per Street estimates)
Operating revenue $1.15B, up 11.4% YoY from $1.03B
Maintained 2026 EPS guidance $4.55-$4.75 on weather-normalized basis
Customer growth 2.2%; weather-normalized retail sales growth 9.4%
Operating income more than doubled to $131.2M from $57.2M

Financial Impact

EPS surprise of +$0.30 vs. consensus (beat); revenue beat of approximately $70M vs implied consensus

epsrevenueoperatingIncome

Risk Factors

Weather dependency: Q1 outperformance partly due to warmer-than-normal weather; normalization could pressure future quarters
Regulatory risk: ACC rate case outcome could impact allowed ROE and customer bill impact
Interest rate sensitivity: rising rates increase financing costs and could pressure earnings
Equity dilution: $1.0B-$1.2B planned equity issuance through 2028 may dilute shareholders

Market Snapshot

Exchange

NYSE

Sector

Electric Services

Analyst Consensus

32% bullish (22 analysts)

Documents Analyzed

This report is based on 7 SEC documents filed with EDGAR.

Document	Accession Number
8-K Filing (Primary)	0000764622-26-000026
Document: pnw-20260502.htm	0000764622-26-000026
Document: q1_2026xearningsxfinal.htm	0000764622-26-000026
Document: 0000764622-26-000026-index-headers.html	0000764622-26-000026
Document: 0000764622-26-000026-index.html	0000764622-26-000026
Document: 0000764622-26-000026.txt	0000764622-26-000026
8-K Data (Synthetic)	0000764622-26-000026

8 reports for PNW

T+1T+5T+20T+60

Filters

Reports for PNW — sortable, filterable
	Type				Now
Jun 8, 2026 1d ago	8-K NEUTRAL ★ 4/10	$101.30 awaiting T+5	awaiting T+5	—	$102.65 (+1.33%)
Jun 5, 2026 4d ago	8-K NEUTRAL ★ 3/10	$101.15 awaiting T+5	awaiting T+5	—	$102.65 (+1.48%)
Jun 5, 2026 4d ago	424B5 NEUTRAL ★ 4/10	$103.09 awaiting T+5	awaiting T+5	—	$102.65 (−0.43%)
Jun 1, 2026 8d ago	424B5 NEUTRAL ★ 4/10	$97.48 $103.06	▲ +5.72%	▲ +8.47%	$102.65 (+5.30%)
May 4, 2026 5w ago	8-K BULLISH ★ 6/10	$101.82 $99.71	▼ −2.07%	▼ −5.01%	$102.65 (+0.82%)
Apr 15, 2026 7w ago	8-K NEUTRAL ★ 3/10	$103.25 $103.45	▲ +0.19%	▼ −0.79%	$102.65 (−0.59%)
Apr 3, 2026 9w ago	DEFA14A NEUTRAL ★ 4/10	$101.57 $102.63	▲ +1.04%	▼ −3.09%	$102.65 (+1.06%)
Feb 25, 2026 14w ago	8-K NEUTRAL ★ 4/10	$98.91 $102.99	▲ +4.12%	▲ +5.22%	$102.65 (+3.78%)

US Market Status

Market Closed — Opens Thu (11h 11m)

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