Pinnacle West Cost Cuts Support Earnings Growth Outlook

Earnings

โดย Zacks Investment Research·

Summary · why it matters

Pinnacle West Capital is strengthening efficiency through disciplined cost management and tighter control of operating expenses, supporting financial stability and infrastructure investment flexibility. Operations and maintenance expenses fell 1.1% year over year to $283.4 million in the second quarter, while first-half 2026 O&M costs declined 4.5% from the prior-year period. The company expects 2026 adjusted core O&M of $970-$980 million, and adjusted O&M excluding renewable energy and demand-side-management costs of $1.02-$1.04 billion. Pinnacle West plans to invest $2.6 billion in 2026 and nearly $7.95 billion through 2028 to support infrastructure and 7-9% rate-base growth, while expecting 2026 earnings per share of $4.55-$4.75 and 5-7% long-term EPS growth.

Pinnacle West Capital Corp ▲