Welcome to our dedicated page for Pinnacle West Capital Corporation news (Ticker: $PNW), a resource for investors and traders seeking the latest updates and insights on Pinnacle West Capital Corporation stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Pinnacle West Capital Corporation's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Pinnacle West Capital Corporation's position in the market.
Pinnacle West Capital Corp. (NYSE: PNW) has announced its intention to offer $450 million in convertible senior notes due 2027 through a private placement under the Securities Act of 1933. An additional $67.5 million may be offered within 13 days of the initial issue. The proceeds will be used for general corporate purposes, including debt repayment, working capital, and investments in its subsidiary, Arizona Public Service Company. The notes are senior unsecured obligations, convertible under certain conditions, with interest payable semiannually. Conversion settlements can be in cash, common stock, or a combination of both. The offering targets qualified institutional buyers and is not registered under the Securities Act or state securities laws, limiting its sale in the U.S. or to U.S. persons.
Pinnacle West Capital Corp. (NYSE: PNW) reported consolidated net income of $16.9 million for the first quarter of 2024, compared to a loss in the same period in 2023. The positive results were driven by increased customer growth, higher revenue, new rates, and the sale of a former subsidiary. The company reaffirmed its full-year 2024 guidance amidst a thriving service territory and preparations for summer reliability and safety.