The company said its 2024 EPS outlook is $4.60 to $4.80, with key assumptions of retail customer growth of 1.5% to -2.5%, weather-normalized retail electricity sales growth of 2.0% to -4.0%, and normal weather.

1. 01

   The company said its 2024 EPS outlook is $4.60 to $4.80, with key assumptions of retail customer growth of 1.5% to -2.5%, weather-normalized retail electricity sales growth of 2.0% to -4.0%, and normal weather.

2. 02

   Pinnacle West said its long-term EPS growth target is 5% to -7% off the 2024 midpoint, and it projects weather-normalized retail electricity sales growth of 4% to -6% (including 3% to -5% from large C&I customers). The sales outlook range runs through 2026.

3. 03

   The company put total APS capital investment for 2024 to 2026 at $6.0B and said it raised about $750 million of external equity through a forward sale. It said future PNW capital needs could be met with tools including ATM and hybrid securities.

4. 04

   The company said the 2022 rate case outcome approved an ROE of 9.55%, a fair value increment of 0.25% and an equity ratio of 51.93%. The total base rate increase was $491.7M, and the total net increase was $253.4M.

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

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