Pinnacle West said consolidated net income attributable to common shareholders for full-year 2024 was $608.8 million, or $5.24 per diluted share, compared with $501.6 million, or $4.41 per diluted share, in 2023.

1. 01

   Pinnacle West said consolidated net income attributable to common shareholders for full-year 2024 was $608.8 million, or $5.24 per diluted share, compared with $501.6 million, or $4.41 per diluted share, in 2023.

2. 02

   For the quarter ended December 31, 2024, the company reported 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.

3. 03

   The company cited new customer rates, increased customer usage and growth, weather and the effects of APS's Lost Fixed Cost Recovery (LFCR) adjustor mechanism as factors in the increase of about $107 million in full-year 2024 results. It said higher operations and maintenance expense, higher depreciation and amortization expense and higher interest charges partially offset these factors.

4. 04

   The company said APS's weather-normalized retail electricity sales grew 5.7% year-over-year in 2024 and customer growth was 2.1%. It also said consolidated earnings for 2025 are estimated to continue within a range of $4.40 to $4.60 per diluted share on a weather-normalized basis.

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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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