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Pinnacle West Capital reports mixed Q1 earnings; reaffirms FY23 outlook

May 04, 2023 8:43 AM ETPinnacle West Capital Corporation (PNW)By: Meghavi Singh, SA News Editor
  • Pinnacle West Capital press release (NYSE:PNW): Q1 GAAP EPS of -$0.03 misses by $0.03.
  • Revenue of $944.96M (+20.6% Y/Y) beats by $136.63M.
  • Outlook: For 2023, the company continues to project its consolidated earnings guidance will be in the range of $3.95 to $4.15 per diluted share on a weather-normalized basis vs. consensus of $4.06.
  • Key factors and assumptions underlying the 2023 outlook can be found in the first-quarter 2023 earnings presentation slides at pinnaclewest.com/investors.

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