Financial Data and Key Metrics Changes - The company reported a loss of $0.06 per share in Q4 2024 compared to a flat result in Q4 2023, with full year 2024 earnings at $5.24 per share, an increase of $0.83 from 2023 [25][26] - Full year 2024 customer growth was 2.1%, slightly above the guidance range of 1.5% to 2.5% [27] - Weather normalized sales growth for 2024 was 5.7%, driven by residential sales growth of 1.1% and strong growth in the commercial and industrial (C&I) segment of 9.7% [29][30] Business Line Data and Key Metrics Changes - The company achieved top quartile reliability for customers and was a top performer in power quality, helping customers choose rate options, and overall digital experience [15] - The residential customer base grew significantly, with areas like Yuma and Casa Grande seeing year-over-year growth of 34% and 36% respectively, while Metro Phoenix experienced 49% growth [19] Market Data and Key Metrics Changes - The Arizona economy is diversifying, with significant investments from companies like Taiwan Semiconductor Manufacturing Company (TSMC) and Amcor Technology, expected to create thousands of jobs and stimulate further economic growth [18] - The company is positioned to capitalize on this demand with the largest transmission and generation expansion in its history, procuring nearly 7,300 megawatts of new resources to be in service between 2026 and 2028 [20] Company Strategy and Development Direction - The company is focused on robust grid expansion, timely recovery of investments, and delivering an exceptional customer experience while maintaining a commitment to decarbonizing the electric grid [13][20] - The management emphasized the importance of creating customer value and maintaining top-tier reliability as Arizona's economic and population growth accelerates [20][35] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate regulatory challenges and emphasized the importance of executing plans to deliver reliable and affordable service [35] - The company plans to file a new rate case in mid-2025 to support Arizona's economic expansion, with a focus on reducing regulatory lag [22][23] Other Important Information - The company achieved a capacity factor of 93.7% at the Palo Verde Generating Station, which exceeded 30 million megawatt hours of net generation for the sixteenth consecutive year [9] - The management team is preparing for a leadership transition, with the current CEO announcing retirement effective March 31 [9][10] Q&A Session Summary Question: Formula rates and settlement outcomes - Management believes settlements can lead to good outcomes but is preparing for a litigated case to ensure a constructive outcome [42][44] Question: Long-term CapEx trends - The company is focused on longer-dated generation and high-voltage transmission projects, with opportunities for incremental projects beyond the 2027 period [48][50] Question: EPS growth rate expectations - The focus remains on a 5% to 7% EPS growth rate with a smoother profile, while exploring opportunities for contemporaneous recovery of CapEx [60][62] Question: Support for House Bill 2201 - Management supports the bill aimed at wildfire mitigation and believes it has forward momentum, but it is still early in the legislative process [66][67] Question: Timing of formula rates implementation - The next rate case is expected to be traditional, with potential for a formula rate plan to be implemented a year after the case concludes [75][76] Question: Capital allocation with formula rates - Should formula rates be adopted, the company will look at capital allocation across business lines, particularly in generation and distribution [82][83] Question: Future nuclear projects - The company is in an assessment phase regarding new nuclear projects, focusing on collaboration and monitoring technology developments [98][99]

Pinnacle West Capital Corporation (PNW) reported fourth-quarter 2024 loss of 6 cents per share, narrower than the Zacks Consensus Estimate of a loss of 15 cents. In the year-ago quarter, the company reported breakeven earnings.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.Total Revenues of PNWSales for the quarter totaled $1.1 billion, which surpassed the Zacks Consensus Estimate of $1.06 billion by 3.6%. The top line also increased 11.1% from $0.99 billion recorded in the year-ago ...

2 Fourth-Quarter results Renewed, Reliable and Resilient Fourth-Quarter and Full-Year 2024 Financial Results February 25, 2025 Forward Looking Statements This presentation contains forward-looking statements based on current expectations, including statements regarding our earnings guidance and financial outlook and goals. These forward-looking statements are often identified by words such as "estimate," "predict," "may," "believe," "plan," "expect," "require," "intend," "assume," "project," "anticipate," " ...

Pinnacle West (PNW) came out with a quarterly loss of $0.06 per share versus the Zacks Consensus Estimate of a loss of $0.15. This compares to break-even earnings per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 60%. A quarter ago, it was expected that this power company would post earnings of $3.35 per share when it actually produced earnings of $3.37, delivering a surprise of 0.60%.Over the last four quarters, the company has ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number Exact Name of Each Registrant as specified in its charter; State of Incorporation; Address; and Telephone Number 1-8962 PINNACLE WEST CAP ...

Exhibit 99.1 FOR IMMEDIATE RELEASE February 25, 2025 Media Contact: Alan Bunnell (602) 250-3376 Analyst Contacts: Amanda Ho (602) 250-3334 Website: pinnaclewest.com PINNACLE WEST REPORTS 2024 FULL-YEAR AND FOURTH-QUARTER RESULTS Reliability for a Growing State Reliability remains at the core of the company's customer service and drives plans to continue providing a balanced energy portfolio delivering power at reasonable rates. "Our customer base, which for decades leaned heavily residential, is now more di ...

Core Viewpoint - Pinnacle West Capital Corporation (PNW) is expected to report its fourth-quarter 2024 results on February 25, with a consensus estimate indicating a loss of 15 cents per share and revenues of $1.06 billion, reflecting a year-over-year increase of 6.6% [1][6]. Group 1: Factors Influencing Q4 Performance - The company's top-line performance is anticipated to benefit from retail customer growth and an increase in retail electricity sales, alongside robust commercial load growth driven by data centers [3]. - Arizona Public Service's (APS) Energy Management System is expected to enhance the integration of renewable and energy storage assets, positively impacting the company's quarterly performance [4]. - However, a planned outage in the fourth quarter may have led to higher operations and maintenance expenses, with increased depreciation, amortization, and property taxes potentially offsetting some positive factors [5]. Group 2: Earnings and Revenue Estimates - The Zacks Consensus Estimate for total electric sales is projected at 7,617.83 gigawatt-hours, which is a 0.9% increase from the previous year [6]. - The company's Earnings ESP is currently at 0.00%, indicating no prediction of an earnings beat for this quarter [7]. - Pinnacle West Capital holds a Zacks Rank of 3, suggesting a neutral outlook [8].

Core Insights - Pinnacle West (PNW) is currently viewed as a more attractive investment option compared to Centuri Holdings (CTRI) for those seeking undervalued stocks [1][7] Valuation Metrics - PNW has a forward P/E ratio of 18.07, significantly lower than CTRI's forward P/E of 39.01, indicating that PNW may be undervalued [5] - The PEG ratio for PNW is 3.24, while CTRI's PEG ratio stands at 10.93, suggesting PNW has a better earnings growth outlook relative to its price [5] - PNW's P/B ratio is 1.38, compared to CTRI's P/B of 3.31, further supporting the notion that PNW is a more favorable value investment [6] Earnings Outlook - PNW is experiencing an improving earnings outlook, which is a positive indicator in the Zacks Rank model, enhancing its attractiveness as a value stock [3][7]

Core Insights - Zacks Premium offers various tools for investors to enhance their stock market strategies, including daily updates on Zacks Rank and Industry Rank, access to the Zacks 1 Rank List, Equity Research reports, and Premium stock screens [1] Zacks Style Scores - Zacks Style Scores are indicators designed to help investors select stocks with the highest potential to outperform the market within 30 days, rated from A to F based on value, growth, and momentum characteristics [2] - The Style Scores consist of four categories: Value Score, Growth Score, Momentum Score, and VGM Score, each focusing on different investment strategies [3][4][5][6] Value Score - The Value Score identifies attractive and discounted stocks using ratios such as P/E, PEG, Price/Sales, and Price/Cash Flow, appealing to value investors [3] Growth Score - The Growth Score emphasizes a company's financial strength and future outlook, analyzing projected and historical earnings, sales, and cash flow to find stocks with sustainable growth [4] Momentum Score - The Momentum Score focuses on trends in stock prices and earnings outlooks, using factors like one-week price change and monthly earnings estimate changes to identify high-momentum stocks [5] VGM Score - The VGM Score combines the three Style Scores to rate stocks based on their overall attractiveness in value, growth, and momentum, serving as a strong indicator alongside the Zacks Rank [6] Zacks Rank - The Zacks Rank is a proprietary stock-rating model that leverages earnings estimate revisions to assist investors in building successful portfolios, with 1 (Strong Buy) stocks achieving an average annual return of +25.41% since 1988, significantly outperforming the S&P 500 [7][8] Stock to Watch: Pinnacle West Capital Corporation - Pinnacle West Capital Corporation, based in Phoenix, AZ, provides electricity services in Arizona and is involved in electricity generation, transmission, and distribution [11] - The company holds a 2 (Buy) rating on the Zacks Rank and has a VGM Score of B, indicating strong potential [11] - Pinnacle West has a Value Style Score of B, supported by a forward P/E ratio of 18.47, making it attractive to value investors [12] - The Zacks Consensus Estimate for Pinnacle West's fiscal 2024 earnings has increased by $0.23 to $5.13 per share, with five analysts revising their estimates upwards in the last 60 days, and the company has an average earnings surprise of 246.2% [12]

Core Viewpoint - Pinnacle West (PNW) has received an upgrade to a Zacks Rank 2 (Buy), indicating a positive outlook based on rising earnings estimates, which significantly influence stock prices [1][3]. Earnings Estimates and Stock Price Impact - The Zacks rating system emphasizes the correlation between changes in earnings estimates and stock price movements, suggesting that revisions in earnings estimates are a powerful indicator of future stock performance [4][6]. - For Pinnacle West, the recent increase in earnings estimates reflects an improvement in the company's underlying business, which is expected to drive the stock price higher [5][8]. Earnings Estimate Revisions - Pinnacle West is projected to earn $5.14 per share for the fiscal year ending December 2024, marking a year-over-year increase of 16.6% [8]. - Over the past three months, the Zacks Consensus Estimate for Pinnacle West has risen by 7.6%, indicating a positive trend in earnings expectations [8]. Zacks Rank System - The Zacks Rank system categorizes stocks based on earnings estimate revisions, with only the top 20% of stocks receiving a 'Strong Buy' or 'Buy' rating, highlighting their potential for superior returns [9][10]. - Pinnacle West's upgrade to Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, suggesting a favorable outlook for near-term price movement [11].