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Pinnacle West Capital (PNW) guidance and outlook

Pinnacle West Capital (PNW) updated its guidance on Nov 3, 2026: EPS $5.05–$5.25 for FY2026. Pinnacle West Capital's 10-Q filed Nov 3, 2026 makes 19 forward-looking statements, 0 of them new and 0 no longer said since the filing before.

Guidance and outlook

Latest guidance

From the earnings release filed Nov 3, 2026 (8-K on EDGAR).

Forward-looking statements, 10-Q filed Nov 3, 2026

• With wildfire events occurring across the U.S. and North America over the last few years, APS has been devoting and intends to continue to devote substantial efforts to analyzing and developing enhancements to its systems and processes to mitigate fire risk within its service territory and communities, including by hardening our infrastructure, deploying new technologies where appropriate, increasing situational…
• Pursuant to that legislation, APS submitted its Comprehensive Wildfire Mitigation Plan to the Arizona Department of Forestry and Fire Management for review and approval.
• This means that for any GHG emissions still produced by our generation resources as of 2050, we will aim to offset these emissions elsewhere.
• We will continue to evaluate these technologies and their ability to provide reliability, affordability, and balance to our portfolio.
• At the core of our AI strategy is a focus on cultural transformation and workplace adoption of AI skills, supported by a robust governance model that guides the development of policies and strategies for the execution of AI projects at the Company.
• The Company believes that its projects which are currently under construction will continue to qualify for IRA tax credits.
• The Company is continuing to analyze the OBBBA and is awaiting regulations and other guidance as to the application of these new rules to projects not currently under construction.
• On December 18, 2025, the Department of Interior Bureau of Land Management issued a Record of Decision permitting the development of Cross-Tie Project, which became non-appealable in late January 2026.
• In addition to the continuing impact of the matters described above, many factors influence our financial results and our future financial outlook, including those listed below.
• We closely monitor these factors to plan for the Company’s current needs, and to adjust our expectations, financial budgets and forecasts appropriately.
• We currently project annual customer growth to be 1.5% to 2.5% for 2026 and the average annual growth to be in the range of 1.5% to 2.5% through 2030 based on anticipated steady population growth in Arizona during that period.
• updated · Due to the expected growth of several large manufacturing and data center facilities, we currently project that annual retail electricity sales in kWh will increase in the range of 8.0% to 10.0% for 2026 and that average annual growth will be in the range of 8.0% to 10.0% through 2030, including the effects of customer conservation, energy efficiency, and distributed renewable generation, but excluding the…

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Questions

Did Pinnacle West Capital raise or lower its guidance?

Pinnacle West Capital (PNW) updated its guidance on Nov 3, 2026: EPS $5.05–$5.25 for FY2026.

What does Pinnacle West Capital expect?

Due to the expected growth of several large manufacturing and data center facilities, we currently project that annual retail electricity sales in kWh will increase in the range of 8.0% to 10.0% for 2026 and that average annual growth will be in the range of 8.0% to 10.0% through 2030, including the effects of customer conservation, energy efficiency, and distributed renewable generation, but excluding the…

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Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.