Pinnacle West said its consolidated net loss attributable to common shareholders for Q1 2025 was $5 million, compared with consolidated net income attributable to common shareholders of $17 million in the prior-year period, a decrease of approximately $22 million. The company cited higher operations and maintenance expense and higher depreciation and amortization expense as major negative factors.

1. 01

   Pinnacle West said its consolidated net loss attributable to common shareholders for Q1 2025 was $5 million, compared with consolidated net income attributable to common shareholders of $17 million in the prior-year period, a decrease of approximately $22 million. The company cited higher operations and maintenance expense and higher depreciation and amortization expense as major negative factors.

2. 02

   Pinnacle West said operations and maintenance expenses for Q1 2025 increased $42 million compared with the prior-year period, and depreciation and amortization expenses increased $25 million. The company explained that the increase in depreciation and amortization was primarily due to increased plant in service and intangible assets.

3. 03

   Pinnacle West said its consolidated net cash provided by operating activities for Q1 2025 was $402 million, an increase of $55 million compared with $347 million in the prior-year period. Net cash used for investing activities was $586 million, an increase of $162 million compared with $424 million in the prior-year period.

4. 04

   Pinnacle West said as of March 31, 2025, APS's common equity ratio under the ACC order was 52%, exceeding the dividend restriction threshold of 40%. The company said the debt to total capitalization ratio was approximately 59% for Pinnacle West and approximately 50% for APS, within the committed covenant limit of 65%.

Key figures

Quarter ended March 31, 2025

Revenue

$1.0B

Operating income

$57M

Net income

$21M

EPS

−$0.04

Operating cash flow

$402M

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

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.