10-Q · August 4, 2026
Pinnacle West delivered Q2 revenue of $1.456 billion, up 7.1% year over year, as weather, customer growth and large-load demand lifted sales; however, diluted EPS fell 9.5% to $1.43 as higher fuel costs, depreciation…
Earnings analysis · 10-Q
PNW earnings analysis
Filed November 3, 2026 · Our reading of the company's report
The latest report
The extracted 10-Q text does not provide the financial statements, MD&A, segment results, cash-flow data, or quantitative outlook needed to assess Q3 revenue, margins, EPS, balance-sheet trends, or free cash flow. The…
Read full summary
The extracted 10-Q text does not provide the financial statements, MD&A, segment results, cash-flow data, or quantitative outlook needed to assess Q3 revenue, margins, EPS, balance-sheet trends, or free cash flow. The only quantified filing information available is that controls were effective as of September 30, 2026 and that no material control changes occurred during the quarter. Risk factors refer back to the 2025 Form 10-K without identifying specific changes.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
What stood out
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Controls remained effective
Pinnacle West and APS management concluded that disclosure controls and procedures were effective as of September 30, 2026.
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No material control changes
The company reported that no change during the quarter ended September 30, 2026 materially affected, or was reasonably likely to materially affect, internal control over financial reporting.
What to watch
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Risk-factor update not quantified
The 10-Q does not add quantified risk-factor changes; Item 1A directs investors to the risks in the 2025 Form 10-K and warns that additional currently unknown or immaterial risks may materially adversely affect results.
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Financing exposure not quantified
The filing identifies a Thirty-Fourth Supplemental Indenture dated August 13, 2026, but the provided text gives no debt amount or liquidity impact, limiting assessment of financing risk.
Management's outlook
The provided filing text does not include quantitative revenue or EPS guidance. The prior 8-K disclosed maintained 2026 weather-normalized sales growth guidance of 4%-6% and long-term sales growth guidance of 5%-7% through 2030, but no new guidance is included in the extracted 10-Q text.
Earlier filings 4
10-Q · May 4, 2026
Pinnacle West Capital Corporation (PNW) reported a notable recovery in Q1 2026, achieving a net income of $33 million compared to a net loss of $5 million in the same period last year. Revenues surged to $1.15 billion,…
10-K · February 25, 2026
Pinnacle West (Pinnacle West/APS) remains a vertically integrated, regulated electric utility focused on serving ~1.4 million Arizona customers through its principal subsidiary, Arizona Public Service (APS), with…
10-Q · November 3, 2025
Pinnacle West reported Q3 2025 revenue of $1,820,741,000, up $51,940,000 versus Q3 2024, with operating income of $581,846,000 (32.0% operating margin) and diluted EPS of $3.39. Operating performance improved (gross…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.