Pinnacle West Q3 revenue rises, EPS beats expectations
PNW•Pinnacle West reported Q3 operating revenue of $1.97 billion and EPS of $3.49, above the $3.31 analyst estimate. It raised its 2026 EPS guidance to $5.05-$5.25 per diluted share and issued $33 million in customer bill credits in November.
1. Quarterly results
Pinnacle West said Q3 operating revenue rose year over year to $1.97 billion and net income was $434.2 million. EPS of $3.49 beat the $3.31 analyst consensus.
2. Guidance and demand
The company raised its 2026 EPS guidance to $5.05-$5.25 per diluted share. It attributed higher Q3 net income to increased customer sales, usage and customer growth; Arizona commercial and industrial sales rose 14.5%, while residential sales grew 4.5%, with record peak demand during summer.
3. Customer and grid plans
Pinnacle West issued $33 million in bill credits to customers in November and outlined a 15-year plan to maintain reliability and support affordability. APS said extra-large customers will be required to fund infrastructure and limit connections to protect grid reliability.
