Pinnacle West Reports Lower 2022 Full-Year and Fourth-Quarter Results
February 27, 2023
Results reflect negative impact of company’s prior rate case Full-year financial results buoyed by higher customer usage, robust customer growth and strong operational performance APS ends year among most improved utilities for residential and business customer satisfaction Company continues progress on Clean Energy Commitment Pinnacle West Capital Corp. (NYSE: PNW) today reported consolidated net income attributable to common shareholders of $483.6 million, or $4.26 per diluted share, for full-year 2022. This result compares with net income of $618.7 million, or $5.47 per diluted share, in 2021. For the quarter ended Dec. 31, 2022, Pinnacle West reported a consolidated net loss attributable to common shareholders of $24.0 million, or a loss of $0.21 per diluted share compared with net income of $27.6 million, or $0.24 per share, for the same period in 2021. The lower 2022 full-year results reflect the unfavorable outcome of the company’s prior rate case, which was implemented on Dec....
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