Welcome to our dedicated page for Pinnacle West Capital Corporation news (Ticker: PNW), a resource for investors and traders seeking the latest updates and insights on Pinnacle West Capital Corporation stock.
Pinnacle West Capital Corporation (symbol: PNW) is a prominent energy holding company based in Phoenix, Arizona. With a history spanning over 120 years, Pinnacle West and its affiliates are dedicated to providing energy and energy-related products and services to a wide customer base throughout Arizona. The company boasts consolidated assets of approximately $11 billion.
Arizona Public Service (APS), Pinnacle West's largest affiliate, plays a significant role in the energy landscape of the Southwest. APS generates, sells, and delivers electricity to more than 1.4 million customers spread across 11 of Arizona’s 15 counties. It operates and co-owns the Palo Verde Nuclear Generating Station®, the largest nuclear power plant in the United States, which is a major source of electricity for the region. APS owns or leases over 6 gigawatts of power generation capacity, with about 50% of the electricity it supplies coming from clean energy sources, including nuclear power.
Beyond APS, Pinnacle West's other affiliates include the Suncor Development Company, which focuses on developing residential, commercial, and industrial real estate projects, APS Energy Services, a retail energy service provider, and the El Dorado Investment Company, a venture capital and investment firm. The diverse portfolio of businesses under Pinnacle West underscores its commitment to fostering growth and innovation within the energy sector.
In recent years, Pinnacle West has made significant strides in advancing clean energy initiatives and modernizing its infrastructure to meet the evolving energy needs of its customers. The company remains financially robust, continually exploring new partnerships and projects to enhance its service offerings and operational efficiency.
For those looking to stay informed about Pinnacle West's performance, latest developments, and company news, this page offers updated information on their activities and achievements.
Pinnacle West Capital Corporation (NYSE: PNW) has announced a quarterly dividend of $0.865 per share of common stock. This dividend is set to be paid on June 1, 2023, to shareholders who are on record as of May 1, 2023. The company, based in Phoenix, holds assets worth approximately $23 billion and has a generating capacity of about 6,300 megawatts. It provides retail electricity services to more than 1.3 million customers in Arizona. For more details, visit pinnaclewest.com.
Pinnacle West Capital Corp. (NYSE: PNW) has announced the release of its 2023 first-quarter financial results, scheduled for May 4, 2023, before U.S. markets open. Subsequently, management will host a live webcast and conference call at noon ET to discuss the financial results and any recent developments. The company, based in Phoenix, manages assets of approximately $23 billion, with a generating capacity of about 6,300 megawatts. Pinnacle West provides retail electricity to over 1.3 million customers in Arizona through its subsidiary, Arizona Public Service.
Pinnacle West Capital Corp. (PNW) reported a 2022 net income of $483.6 million ($4.26 per diluted share), down from $618.7 million ($5.47 per diluted share) in 2021. The fourth quarter saw a net loss of $24 million ($0.21 per share), compared to a profit of $27.6 million ($0.24 per share) the previous year. Key challenges included lower revenue due to the prior rate case outcome and increased operational costs. Conversely, the company experienced a 2.1% customer growth and aims for 1.5% to 2.5% growth until 2025. PNW's Clean Energy Commitment focuses on providing 100% clean electricity by 2050. For 2023, earnings are projected at $3.95 to $4.15 per share.
Pinnacle West Capital Corp. (NYSE: PNW) has appointed Kristine L. Svinicki, former Chairman of the Nuclear Regulatory Commission, to its board of directors effective immediately. With over 30 years of public service, Svinicki served as NRC chair from January 2017 until 2021 and is recognized for her expertise in nuclear energy regulation and safety. Her addition is expected to enhance the board's Audit and Nuclear & Operating committees and bring valuable insights, especially regarding operations at the Palo Verde Generating Station. Pinnacle West, based in Phoenix, manages assets worth approximately $23 billion and generates around 6,300 megawatts of power.
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