Welcome to our dedicated page for Pinnacl West Cap news (Ticker: PNW), a resource for investors and traders seeking the latest updates and insights on Pinnacl West Cap stock.
Pinnacle West Capital Corporation (NYSE: PNW) is an energy holding company based in Phoenix, Arizona, whose principal subsidiary, Arizona Public Service Company (APS), provides retail electricity service to about 1.4 million homes and businesses in Arizona. The PNW news feed on Stock Titan aggregates company announcements, financial updates and operational developments that shape the outlook for this regulated utility.
Investors and observers following Pinnacle West news will see regular earnings releases, dividend declarations and guidance updates, often furnished via Form 8-K filings. These reports discuss factors such as customer growth, weather-driven usage, operating performance, resource mix and planned capital investments. Management also provides slide presentations and hosts conference calls to explain quarterly results and longer-term expectations.
News from APS, as Pinnacle West’s main subsidiary, highlights system reliability, record peak demand events, and the performance of its diverse generation fleet, including nuclear, natural gas, coal, solar, wind and storage resources. Company communications describe Arizona’s rapid population and economic growth, record-setting summer demand and the need for new infrastructure, such as the proposed Desert Sun Power Plant and participation in natural gas pipeline expansion projects.
Readers can use this page to follow updates on APS’s clean energy and carbon-neutral goals, customer and community assistance programs, and initiatives designed to balance reliability, affordability and clean energy development. For anyone tracking PNW stock, the news stream offers context on how regulatory decisions, resource planning and regional growth trends are reflected in Pinnacle West’s public disclosures and financial commentary. Bookmark this page to monitor new press releases and related coverage as they are published.
Arizona Public Service Company (APS) has launched its Cool Rewards program, which incentivizes over 52,000 customers to conserve energy using smart thermostats. The program is one of the largest of its kind in the United States, with participants saving nearly 80 megawatts of electricity during summer 2021 alone. Collaborating with EnergyHub and Google, APS aims to enhance customer experience while promoting clean energy initiatives. The program has received the ENERGY STAR Partner of the Year Award for excellence in energy efficiency.
Pinnacle West Capital Corp. (NYSE: PNW) reported Q3 2021 net income of $339.8 million ($3.00 per share), down from $346.4 million ($3.07 per share) in Q3 2020. Revenue decline was influenced by milder weather compared to last year's heatwave. Despite challenges, customer growth increased by 2.3%, aiding operational performance. The Arizona Corporation Commission's unfavorable rate case decision led to a cut in return on equity from 10% to 8.7%, prompting the company to consider legal challenges. The financial outlook for 2021 expects earnings of $5.25 to $5.35 per diluted share.
Pinnacle West Capital Corporation (NYSE: PNW) announced a 2.4% increase in its annual dividend, raising it by $0.08 per share to $3.40 annually or $0.85 quarterly. The new dividend will be paid on December 1, 2021, to shareholders of record as of November 16, 2021. This marks the 10th consecutive year of dividend growth, reflecting the company’s commitment to provide attractive yields and long-term growth, despite ongoing regulatory uncertainties.
Pinnacle West Capital Corp. (NYSE: PNW) plans to release its third-quarter financial results for 2021 on November 5, 2021, prior to the U.S. market opening. A live webcast and conference call will occur that same day at noon ET to discuss these results and recent developments. The company, based in Phoenix, holds approximately $21 billion in consolidated assets and has about 6,300 megawatts of generating capacity, serving over 1.3 million customers in Arizona through its subsidiary, Arizona Public Service.
Pinnacle West Capital Corp. (NYSE: PNW) reported a consolidated net income of $215.7 million, or $1.91 per diluted share, for Q2 2021, compared to $193.6 million or $1.71 per share in Q2 2020. The 7.6% revenue increase, totaling $70.7 million, was driven by a 2.3% customer growth and increased retail sales. Record temperatures contributed to higher energy consumption. Residential sales rose 1.3% while commercial and industrial sales surged 10.3%. The company maintains a seasonal hold on residential disconnections until October 15, 2021.
Pinnacle West Capital Corp. (NYSE: PNW) will release its Q2 2021 financial results on Aug. 5, 2021, prior to market opening. A live webcast and conference call will be held the same day at noon ET to discuss results and developments. Pinnacle West, based in Phoenix, manages approximately $20 billion in assets and 6,300 megawatts of generating capacity, serving over 1.3 million customers through Arizona Public Service. More details and access links for the call are available on their official website.
Arizona Public Service Co. (APS) has launched a Distributed Demand-side Resources (DDSR) Request for Proposals (RFP) to enhance customer energy efficiency programs. This initiative aims to procure aggregated clean energy resources between 5-40 megawatts and support various technologies like energy storage and smart thermostats. APS is focusing on delivering a high-quality customer experience while working towards a 100% carbon-free energy mix by 2050. The RFP is open for projects beginning service between June 1, 2022, and June 1, 2024.
Pinnacle West Capital Corporation (NYSE: PNW) has announced a quarterly dividend of $0.83 per share, payable on September 1, 2021, to shareholders of record on August 2, 2021. The company, an energy holding firm based in Phoenix, boasts consolidated assets of approximately $20 billion, with around 6,300 megawatts of generating capacity and over 6,000 employees serving more than 1.3 million customers in Arizona and New Mexico through its subsidiary, Arizona Public Service.
Pinnacle West Capital Corp. (NYSE: PNW) reported a consolidated net income of $35.6 million, or $0.32 per diluted share for Q1 2021, an increase from $30.0 million or $0.27 per diluted share in Q1 2020. The positive results were driven by favorable weather, higher transmission revenues, and increased pension credits, offsetting moderate growth in operation expenses. The company anticipates a peak demand of 7,521 megawatts this summer, lower than last year’s record but higher than 2019, and is proactively preparing for the summer season to ensure reliable power delivery.
Arizona Public Service Co. (APS) is expanding its solar energy initiatives by adding an all-source request for proposals (RFP), originally issued in December 2020. The new addendum aims to procure an additional 100-150 MW of photovoltaic solar capacity on APS-owned land, contributing to the company's goal for a carbon-free power mix by 2050. APS plans to obtain 600-800 MW of renewable resources and 400-600 MW of capacity resources, with proposals expected to be operational in 2023 and 2024. The RFP process will be monitored by a third-party independent entity.