Filing Flows › Pinnacle West Capital (PNW) › Q1 2026
Pinnacle West Capital (PNW) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 4, 2026
Pinnacle West Capital (PNW) reported revenue of $1.1B for the first quarter 2026 (Q1 2026), +11% from a year earlier and +2% from the quarter before. Operating margin was 11.4%, net earnings $32.9M (2.9% of revenue).
Pinnacle West Capital, Q1 2026: revenue $1.1B (+11% year over year), operating margin 11.4%, net earnings $32.9M, operating cash flow $235M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.1B | +2% | +11% |
| Operating profit | $131M | +8% | +129% |
| Net earnings | $32.9M | +114% | — |
| Operating cash flow | $235M | -51% | -41% |
What changed
Revenue was $1.1B in Q1 2026, up 11% year over year and up 2% from the previous quarter. Electric and Transmission Service was the largest line at 98% of revenue. Electric and Transmission Service added $0.10B year over year (up 10%), 90% of the total change. Wholesale Energy Sales declined 40%.
Operating profit was $0.13B, a 11.4% margin (up 5.9 points year over year). Of the extra revenue versus a year earlier, 63% reached operating profit, above the 6% margin then. Total costs grew 4% against revenue growth of 11%. The fastest-growing cost line was Cost of revenue (+15%). Net earnings were $0.03B. The effective tax rate was 3.2%.
Operating cash flow was $0.24B (down 41% year over year), 670% of net income including minority interests. Non-cash charges added back $0.26B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items used $0.07B. Capital expenditures of $0.63B exceeded it, leaving free cash flow of −$0.39B.
Questions
What was Pinnacle West Capital's revenue in the first quarter 2026?
Pinnacle West Capital (PNW) reported revenue of $1.1B for the first quarter 2026 (Q1 2026), +11% from a year earlier and +2% from the quarter before.
Was Pinnacle West Capital profitable in the first quarter 2026?
Operating profit was $131M (11.4% of revenue) and net earnings $32.9M.