Pinnacle West Capital (PNW)

Pinnacle West Capital Corp. (NYSEPNW) announced today that it plans to release its 2024 fourth-quarter and full-year financial results before the U.S. financial markets open on Tuesday, Feb. 25, 2025.

Pinnacle West Capital Corp. (NYSEPNW) announced today that Pinnacle West and Arizona Public Service (APS) Chairman and CEO Jeff Guldner will retire as Chairman of the Board, CEO and board member on March 31, 2025, after 5 years of leading the company. APS President Ted Geisler will assume the roles of Chairman of the Board, President and CEO of Pinnacle West and APS effective April 1, 2025. Guldner will remain employed by Pinnacle West in a non-executive advisory capacity to support a smooth transition through the end of March 2026.

Pinnacle West Capital Corporation’s (NYSEPNW) board of directors today declared a quarterly dividend of $0.895 per share of common stock, payable on March 3, 2025, to shareholders of record at the close of business on Feb. 3, 2025.

Today, Arizona Public Service (APS), Salt River Project (SRP), Tucson Electric Power (TEP) and UniSource Energy Services announced plans to join Southwest Power Pool’s (SPP) Markets+, a day-ahead and real-time energy market that is anticipated to span through the northwest, southwest and mountain west regions of the U.S. The new market is expected to bring enhanced reliability and savings of nearly $100 million above current market participation, passed back across the electric companies’ customers. It will also support the addition of more renewable resources to the energy grid, as Arizona continues to experience residential and business growth and record-breaking energy demand.

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Pinnacle West Capital Corp. (NYSEPNW) today reported consolidated net income attributable to common shareholders for the 2024 third quarter of $395.0 million, or $3.37 per diluted share of common stock. This result compares with consolidated net income of $398.2 million, or $3.50 per diluted share of common stock, for the same period a year ago.

Pinnacle West Capital Corporation’s (NYSEPNW) board of directors voted today to raise the Company’s dividend by about 1.7%, or 6 cents per common share annually. This action will result in an indicated annual dividend of $3.58 per share – or $0.895 per share quarterly. The declared quarterly dividend is payable Dec. 2, 2024, to shareholders of record at the close of business Nov. 4, 2024.

TransCanyon LLC’s Cross-Tie Project has reached a significant milestone with the recent announcement from the Bureau of Land Management (BLM) and United States Department of Agriculture-Forest Service (Forest Service) regarding the availability of the Final Environmental Impact Statement (FEIS). This document marks a key step in development of the Cross-Tie 500-kV Transmission Project, a major infrastructure initiative aimed at enhancing the region’s energy transmission capabilities.

The U.S. Department of Energy (DOE) Grid Deployment Office announced it has awarded Arizona Public Service Company (APS) two grants, totaling $70 million, for projects to strengthen smart grid resilience, expand wildfire prevention and mitigation measures and help meet customers’ growing energy needs. The funds are part of the DOE’s Grid Resilience and Innovation Partnerships (GRIP) program, which is focused on enhancing and improving electric systems in rural, tribal and disadvantaged communities across the country.

Pinnacle West Capital Corp. (NYSEPNW) announced today that it plans to release its 2024 third-quarter financial results before the U.S. financial markets open on Wednesday, Nov. 6, 2024.

Pinnacle West Capital Corp. (NYSEPNW) today reported consolidated net income attributable to common shareholders of $203.8 million, or $1.76 per diluted share of common stock, for the quarter ended June 30, 2024. This result compares with consolidated net income of $106.7 million, or $0.94 per diluted share, for the same period in 2023.

Pinnacle West Capital Corp. (NYSEPNW) announced today that it plans to release its 2024 second-quarter financial results before the U.S. financial markets open on Thursday, Aug. 1, 2024.

Pinnacle West Capital Corp. (NYSEPNW) announced today that its board of directors has elected three new members to the company’s board: Ronald Butler Jr., a “Big 4” public accounting firm managing partner with more than 32 years of diverse management and executive leadership experience; Carol S. Eicher, a seasoned executive who has served in multiple board leadership roles with both public and private equity-backed businesses; and Susan T. Flanagan, an executive with a broad and accomplished career spanning various sectors, including regulated utilities, energy and renewables, finance and capital markets, and portfolio management.

Pinnacle West Capital Corporation’s (NYSEPNW) board of directors today declared a quarterly dividend of $0.88 per share of common stock, payable on Sept. 3, 2024, to shareholders of record at the close of business on Aug. 1, 2024.

Pinnacle West Capital Corp. (NYSEPNW) (“Pinnacle West”) announced the pricing of its offering of $475 million aggregate principal amount of its 4.75% convertible senior notes due 2027 (the “convertible notes”) in a private placement under the Securities Act of 1933, as amended (the “Securities Act”). The offering of the convertible notes was upsized from the previously announced offering size of $450 million aggregate principal amount of convertible notes. Pinnacle West also granted the initial purchasers of the convertible notes an option to purchase, within a 13-day period from, and including, the date on which the convertible notes are first issued, up to an additional $50 million aggregate principal amount of the convertible notes. The sale of the convertible notes is expected to close on June 6, 2024, subject to the satisfaction of customary closing conditions.

Pinnacle West Capital Corp. (NYSEPNW) (“Pinnacle West”) announced today that it intends to offer, subject to market and other conditions, $450 million aggregate principal amount of its convertible senior notes due 2027 (the “convertible notes”) in a private placement under the Securities Act of 1933, as amended (the “Securities Act”). Pinnacle West also intends to grant the initial purchasers of the convertible notes an option to purchase, within a 13-day period from, and including, the date on which the convertible notes are first issued, up to an additional $67.5 million aggregate principal amount of the convertible notes.

Pinnacle West Capital Corp. (NYSEPNW) today reported consolidated net income attributable to common shareholders of $16.9 million, or $0.15 per diluted share of common stock, for the quarter ended March 31, 2024. This result compares with a consolidated net loss attributable to common shareholders of $3.3 million, or a loss of $0.03 per diluted share, for the same period in 2023.

Pinnacle West Capital Corporation’s (NYSEPNW) board of directors today declared a quarterly dividend of $0.88 per share of common stock, payable on June 3, 2024, to shareholders of record at the close of business on May 1, 2024.

Pinnacle West Capital Corp. (NYSEPNW) announced today that it plans to release its 2024 first-quarter financial results before the U.S. financial markets open on Thursday, May 2, 2024.

Pinnacle West Capital Corp. (NYSEPNW) (“Pinnacle West”) announced today that it has priced its registered public offering of 9,774,436 shares of its common stock for approximate net proceeds of $630.5 million (before offering expenses, assuming the underwriters do not exercise their option to purchase additional shares and upon, and assuming, full physical settlement of the forward sale agreements) in connection with the forward sale agreements described below. The common stock offering was priced at a public offering price of $66.50 per share.

Pinnacle West Capital Corp. (NYSEPNW) (“Pinnacle West”) announced today that it is commencing a registered public offering of $650 million of its common stock in connection with the forward sale agreements described below, subject to market and other conditions.

Pinnacle West Capital Corp. (NYSEPNW) today reported consolidated net income attributable to common shareholders of $501.6 million, or $4.41 per diluted share, for full-year 2023. This result compares with net income of $483.6 million, or $4.26 per diluted share, in 2022.

Pinnacle West Capital Corp. (NYSEPNW) announced today that it plans to release its 2023 fourth-quarter and full-year financial results before the U.S. financial markets open on Tuesday, Feb. 27, 2024.

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Pinnacle West Capital Corporation’s (NYSEPNW) board of directors today declared a quarterly dividend of $0.88 per share of common stock, payable on March 1, 2024, to shareholders of record at the close of business on Feb. 1, 2024.