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Pinnacle West Capital PNW Regulated Electricity Segment — Operations and maintenance

Other segment segments

Other
-$4M-33.3%

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Other financials

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

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Market cap$12.3B+11.3%
Enterprise value$27.44B+9.6%
P/E18.4×-0.1×
P/S2.3×+0.2×

Profitability

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

Returns & leverage

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

Where this comes from

Reported directly by Pinnacle West Capital in its filing.

Tagged under the XBRL concept us-gaap:UtilitiesOperatingExpenseMaintenanceAndOperations.

The source filing: Pinnacle West Capital’s 10-Q, filed May 4, 2026.

Filed
May 4, 2026, 8:24 AM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0000764622-26-000025
Line itemThree Months Ended March 31, 2026 / Regulated Electricity SegmentThree Months Ended March 31, 2026 / OtherThree Months Ended March 31, 2026 / Pinnacle West ConsolidatedThree Months Ended March 31, 2025 / Regulated Electricity SegmentThree Months Ended March 31, 2025 / OtherThree Months Ended March 31, 2025 / Pinnacle West Consolidated
Operating revenues$1,150$1,150$1,032$1,032
Fuel and purchased power(437)(437)(380)(380)
Operations and maintenance(273)(4)(277)(297)(3)(300)
Depreciation and amortization(240)(240)(235)(235)
Taxes other than income taxes(62)(62)(59)(59)
Allowance for equity funds used during construction15151313
Pension and other postretirement non-service credits, net4433
Other income and (expense), net(3)2(1)31114

ITEM 1. FINANCIAL STATEMENTS

FAQ

What is Pinnacle West Capital's regulated electricity segment — operations and maintenance?
Pinnacle West Capital (PNW) reported regulated electricity segment — operations and maintenance of -$273M in Q1 2026.
How has Pinnacle West Capital's regulated electricity segment — operations and maintenance changed year-over-year?
Pinnacle West Capital's regulated electricity segment — operations and maintenance increased by 8.1% year-over-year, from -$297M to -$273M.
What is the long-term trend for Pinnacle West Capital's regulated electricity segment — operations and maintenance?
Over 3 years (2022 to 2025), Pinnacle West Capital's regulated electricity segment — operations and maintenance has grown at a 6.5% compound annual growth rate (CAGR), from -$974M to -$1.18B.
What does regulated electricity segment — operations and maintenance mean?
This encompasses the recurring costs required to operate and maintain the utility's power plants, transmission lines, and distribution infrastructure. It includes labor, materials, and contracted services necessary to ensure safe and reliable grid operations.

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