Pinnacle West Reports 2024 Full-Year and Fourth-Quarter Results
February 25, 2025
New customer rates, retail sales growth of 5.7% and an exceptionally hot summer contribute to an increase in retail revenue and full-year financial results Annual retail customer growth increases a robust 2.1% Customer satisfaction continues improvement, reaches new highs Pinnacle West Capital Corp. (NYSE: PNW) today reported consolidated net income attributable to common shareholders of $608.8 million, or $5.24 per diluted share, for full-year 2024. This result compares with net income of $501.6 million, or $4.41 per diluted share, in 2023. For the quarter ended Dec. 31, 2024, Pinnacle West reported a consolidated net loss attributable to common shareholders of $6.8 million, or a loss of $0.06 per diluted share, compared with a net loss of $23,000, or $0.00 per diluted share, for the same period in 2023. The higher 2024 full-year results reflect an increase of about $107 million, primarily as a result of the impacts of new customer rates, increased customer usage and growth, the...
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