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Pinnacle West Capital PNW Q1 2026 earnings

Reported May 4, 2026 · Before market open

Revenue$1.1BBeat by $65.2MDiluted EPS$0.27Beat by $0.30
Revenue estimate$1.1B
EPS estimate-$0.03

Next report

Aug 4, 2026 (In 3 weeks)
Revenue estimate$1.4B
EPS estimate$1.48

Financials

Q1 2026

Income statement

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Revenue$1.1B+11.4%
Gross profit$712.9M+9.3%
Operating income$131.2M+129%
Net income$35.1M+10,489%
EPS (diluted)$0.27+775%

Balance sheet

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Cash & equivalents$6.4M-36.2%
Total debt$15.1B+24.8%
Total equity$7.1B+4.9%
Total assets$30.7B+12.7%

Cash flow

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Operating cash flow$235.3M-41.5%
CapEx$628.4M+0.9%
Free cash flow-$393.1M-78.1%

Valuation & ratios

Valuation

as of 07/10/26
See full
Market cap$13.07B+7.4%
Enterprise value$28.2B+16.4%
P/E19.6×-0.5×
P/S2.4×+0.1×

Profitability

See full
Gross margin63.5%-1.0pp
Operating margin20.9%+1.7pp
Net margin12.2%+0.6pp
FCF margin-18.9%+14.3pp

Returns & leverage

See full
Return on equity9.7%+0.3pp
Debt / equity2.1×+0.3×
Current ratio0.6×+0.1×

Segments

By product

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Retail Electric Service$601.7M+14.6%
Transmission Services for Others$32.0M+25.4%
Wholesale Energy Sales$15.0M-39.7%
Other Sources$7.2M-11.9%

By segment

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Other-—

Versus estimates

Revenue

Q1 2026$1.1BBeat by $65.2M
Q4 2025$1.1BMiss by $42.2MQ3 2025$1.8BBeat by $651.0MQ2 2025$1.4BMiss by $421.1MQ1 2025$1.0BMiss by $303.1MQ4 2024$1.1BBeat by $44.7M

Diluted EPS

Q1 2026$0.27Beat by $0.30
Q4 2025$0.13Beat by $0.08Q3 2025$3.39Beat by $0.35Q2 2025$1.58In lineQ1 2025-$0.04Miss by $0.09Q4 2024-$0.06Beat by $0.25

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Questions, answered.

When did Pinnacle West Capital report Q1 2026 earnings?
Pinnacle West Capital (PNW) reported Q1 2026 earnings on May 4, 2026 before market open.
What were Pinnacle West Capital's Q1 2026 revenue and EPS?
Pinnacle West Capital reported revenue of $1.1B and diluted EPS of $0.27 for Q1 2026.
Did Pinnacle West Capital beat estimates in Q1 2026?
Revenue beat the consensus estimate of $1.1B by $65.2M. EPS beat the consensus estimate of $-0.03 by $0.30.
How did Pinnacle West Capital's Q1 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 11.4% from $1.0B a year earlier.
Where can I find Pinnacle West Capital's Q1 2026 SEC filings?
You can read the 8-K earnings release (0000764622-26-000026) and the 10-Q periodic report (0000764622-26-000025) directly on SEC EDGAR. The filing index links above go to sec.gov.