PNW US S&P 500Russell 1000 Konferencja wynikowa
Pinnacle West Capital
Wyniki II kw. 2026 vs I kw. 2026 · poprzedni kwartał · opublikowano 4 sie 2026 i 4 maj 2026
Net income up 414.8% on the previous quarter. Management sounded cautious, in its script and in answers to analysts.
1 · Liczby
+414,8%
Zysk netto vs I kw. 2026
Podano perspektywy
Zysk netto 180,8 mln vs 35,1 mln
Przychody +26,6%
Against the same quarter last year (II kw. 2025) it is −8.2%, so the move on last quarter looks seasonal or timing-related rather than a trend.
Dlaczego Net income rose mainly because of customer and sales growth providing a quarter-over-quarter earnings benefit.
2 · Jak mówił zarząd
Ostrożny
Less upbeat than 96% of company calls
Answers to analysts: upbeat, in line with the script.
Similar to last call.
3 · Co się wyróżniło
Liczba
The company's prior commitment was over 1 gigawatt before the addition of an incremental $100 billion investment.
Między wierszami
-
Prognoza
The company is not updating its 2026 sales growth guidance at this time, despite reporting a 9.6% year-to-date weather-normalized sales growth and 2.1% customer growth.
Cytat ze źródła
“While we are not updating our 2026 sales growth guidance at this time, year-to-date weather-normalized sales growth has tracked more closely... We achieved 2.1% customer growth and weather-normalized sales growth of 9.6% compared with the second quarter of last year. Residential sales growth came in strong at 5.6%, and commercial and industrial sales also continued to perform exceptionally well, increasing 12.7% during the...”
-
Prognoza
The project is expected to add up to approximately $440 million of incremental capital investment, mostly in 2027 and 2028.
Cytat ze źródła
“We expect that project could add up to approximately $440 million of incremental capital investment, mostly in 2027 and 2028.”
-
Słabnie
The IRP analysis will now include all extra-high load factor growth commitments and long-term sales growth across residential, small to medium-sized business, and industrial sectors.
Cytat ze źródła
“Importantly, it will include all of the extra-high load factor growth that we have committed to, but it will not include... The IRP analysis will include our latest long-term thinking in terms of sales growth within the service territory across all three sectors: residential, small to medium-sized business, and industrial growth. We have done a lot of work over the past six to twelve months to analyze over the next ten to fifteen years how residential growth trends with...”
Wycena
Odwrócony DCF na zysku netto z ostatniego pełnego roku obrotowego (brak miarodajnych wolnych przepływów: bank, ubezpieczyciel lub rok z ujemnymi przepływami) (2025-12-31), powiększane przez 10 lat, zdyskontowane, plus wartość rezydualna. „Wzrost implikowany” to tempo, które zakłada obecna cena.
Aktualna cena
$95.96
zamknięcie z 2026-10-05
Rynek zakłada wzrost o iRoczny wzrost wolnych przepływów pieniężnych przez następne 10 lat, który zakłada dzisiejsza cena akcji. Jeśli uważasz, że spółka będzie rosła szybciej, akcja jest w tym modelu tania; wolniej — droga.
+16,2% przez 10 lat
Wartość godziwa / akcję
—
Kupuj poniżej
—
Cena vs wartość godziwa
—
Cena vs cena zakupu
—
Zarząd oczekuje
Sales +2.1% · z raportu za II kw. 2026: “The company is not updating its 2026 sales growth guidance at this time, despite reporting a 9.6% year-to-date weather-normalized sales growth and 2.1%…”
Prognoza zarządu, zwykle na rok do przodu — nie tempo wzrostu przepływów na 10 lat.
Ton
Jak optymistyczny był język w porównaniu z innymi spółkamiiTon to liczba pozytywnych słów finansowych minus liczba negatywnych, skorygowana o długość tekstu. Zarządy zwykle mówią pozytywnie, więc etykiety porównują każdą konferencję z ostatnimi konferencjami wszystkich spółek: „typowy” to środkowa trzecia, „bardzo optymistyczny” to najlepsze 10%, „ostrożny” to najsłabsze 10%.. Kropka: II kw. 2026. Pierścień: I kw. 2026.
Script and answers carried a similar tone, so the script's message held up under questioning.
Zdania, które wpłynęły na ton
“But that provided an incredibly robust opportunity for a very strong evidence on the record.”
“Residential sales growth came in strong at 5.6%, and commercial and industrial sales also continued to perform exceptionally well, increasing 12.7% during the quarter, driven by the ongoing expansion of...”
“And then again, continuing to monitor the robust growth trends that we're seeing in the service territory and making sure that the load forecast we include in the IRP really...”
Liczby
USD · SEC EDGAR XBRL (10-Q, period end 2026-06-30)
| Pozycja | II kw. 2026period end 2026-06-30 | I kw. 2026period end 2026-03-31 | Zmiana | II kw. 2025 | r/r |
|---|---|---|---|---|---|
| Przychody | 1,46 mld | 1,15 mld | +26,6% | 1,36 mld | +7,1% |
| Zysk operacyjny | 305,7 mln | 131,2 mln | +133,0% | 307,6 mln | −0,6% |
| Zysk netto | 180,8 mln | 35,1 mln | +414,8% | 196,9 mln | −8,2% |
| Zysk na akcję | 1,43 | 0,27 | +429,6% | 1,58 | −9,5% |
Tematy
Najczęściej omawiane teraz
- Nowe With respect to the long term, certainly, there needs to be a reallocation framework designed among the lower basin states...
- TSMC now plans to develop up to 12 leading-edge fabrication and advanced packaging facilities in North Phoenix, along with the...
- Nearly 20,000 acres of surrounding land are now in various stages of planning and development, giving rise to an entirely...
- Its approach to that remains the same, which is Pinnacle West Capital will include in the load forecast all committed customer growth,...
- Pinnacle West Capital is working with them now on what this incremental investment means in terms of additional capacity, timing of ramp…
Zniknęło od I kw. 2026
- Zniknęło The subscription model offering Pinnacle West Capital came out with last year and the negotiations currently underway with counterparties…
- Słabnie Activity across the semiconductor supply chain continues to intensify throughout the region, with key suppliers rapidly establishing and…
- Słabnie This reflects Pinnacle West Capital's continued focus on heightened transmission investments to support its growing customer base.
- Słabnie Pinnacle West Capital continues to see a consistent ongoing influx of customers into its region, as customer growth for the quarter was...