The company reported consolidated net income attributable to common shareholders of $16.9 million ($0.15 per diluted share) for the quarter ended March 31, 2024, compared with a net loss of $3.3 million (a loss of $0.03 per share) in the same period of 2023.

1. 01

   The company reported consolidated net income attributable to common shareholders of $16.9 million ($0.15 per diluted share) for the quarter ended March 31, 2024, compared with a net loss of $3.3 million (a loss of $0.03 per share) in the same period of 2023.

2. 02

   The company cited the new retail base rates that took effect on March 8, 2024, customer and usage growth, and higher other income as factors that improved results. It said higher depreciation and amortization expense and higher interest charges offset these factors.

3. 03

   The company reported operating revenues of $951,712 thousand and operating income of $66,792 thousand for the 3-month period in Q1 2024, compared with $944,955 thousand and $50,717 thousand for the same period in 2023.

4. 04

   Pinnacle West said it continues to estimate consolidated earnings guidance for 2024 at $4.60 to $4.80 per diluted share on a weather-normalized basis, reaffirming its full-year outlook.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.