Pinnacle West Capital Earnings Preview: What to Expect

Pinnacle West Capital Corporation (PNW), headquartered in Phoenix, Arizona, provides retail and wholesale electric services. Valued at $13 billion by market cap, the company provides retail and wholesale electric service to most of the State of Arizona. PNW is also involved in real estate development activities in the western U.S. The utility holding company is expected to announce its fiscal second-quarter earnings for 2026 before the market opens on Tuesday, Aug. 4.

Ahead of the event, analysts expect PNW to report a profit of $1.48 per share on a diluted basis, down 6.3% from $1.58 per share in the year-ago quarter. The company beat or matched the consensus estimates in each of the last four quarters. 

For the full year, analysts expect PNW to report EPS of $4.73, down 6.3% from $5.05 in fiscal 2025. However, its EPS is expected to rise 17.6% year over year to $5.56 in fiscal 2027. 

PNW stock has underperformed the S&P 500 Index’s ($SPX) 20.3% gains over the past 52 weeks, with shares up 20.2% during this period. However, it outperformed the State Street Utilities Select Sector SPDR ETF’s (XLU) 10.9% gains over the same time frame.

On May 4, PNW shares closed down by 1.7% after reporting its Q1 results. Its revenue stood at $1.1 billion, up 11.4% year over year. The company’s EPS came in at $0.27, compared to loss per share of $0.04 from the year-ago quarter. 

Analysts’ consensus opinion on PNW stock is reasonably bullish, with a “Moderate Buy” rating overall. Out of 18 analysts covering the stock, four advise a “Strong Buy” rating, and 14 give a “Hold.” While PNW currently trades above its mean price target of $105.44, the Street-high price target of $129 suggests an upside potential of 18%.