Equity Profile

PNW

Pinnacle West Capital Corporation

UtilitiesElectric Utilities$13.2B

Aug6Thu

Pre-Earnings Brief

UpcomingQ2-2026Pre-Market9:00 AM EDT

Company Snapshot

Pinnacle West Capital Corporation (PNW) is a utility company that provides electricity to customers in Arizona. As a key player in the electric utilities sector, it plays a crucial role in energy distribution and management, particularly as the industry shifts towards more sustainable energy solutions.

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a critical measure of profitability and will indicate how well the company is managing its costs and revenues.

N/A

Revenue Growth

Revenue growth reflects the company's ability to expand its customer base and increase sales, which is vital in the competitive utilities market.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

PNW Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

75%

Avg EPS Surprise

+123.53%

Avg Stock Reaction

+0.68%

Last Quarter Recap

In Q1-2026, Pinnacle West reported an EPS of $0.27, significantly beating the estimate of -$0.03. However, the stock saw a slight decline of 1.66% the following day, indicating mixed market reactions despite the strong earnings surprise.

Management Promises & Guidance

Expectations

Wall Street Expectations

Overall, expectations for Pinnacle West's upcoming earnings are uncertain due to the lack of analyst estimates. Investors will be closely watching for any signs of revenue growth and customer retention.

Bull Case

If Pinnacle West can demonstrate strong revenue growth and an increase in customer count, it could signal a robust business model and positive market conditions.

Bear Case

Conversely, if the company reports disappointing revenue or a decline in customer base, it may raise concerns about its competitive position and future profitability.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the EPS be for Q2-2026?

EPS is a key indicator of profitability and will significantly influence investor sentiment and stock performance.

How many new customers has Pinnacle West added in the last quarter?

Customer growth is crucial for revenue expansion, and any decline could raise red flags about the company's market position.

Edge

What the Street Is Missing

Why consensus could be wrong

The market may be underestimating the potential for customer growth in the face of rising energy demands, especially as more consumers shift towards renewable energy sources.

Supporting Evidence

Pinnacle West has historically shown a strong ability to surprise on EPS, with a 75% beat rate over the last eight quarters.

The options market is pricing in a larger move than historical averages, indicating that traders expect significant developments.

Recent trends in energy consumption suggest a growing demand for utility services, which could benefit Pinnacle West.

Key Risk

If customer growth exceeds expectations, it could significantly alter the market's perception of the company's future prospects.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter, the focus will be on profitability and customer growth, which are critical for determining the company's future trajectory.

Bull Confirmed If

An EPS of $0.50 or higher would confirm the bull case, indicating strong profitability.

Bear Confirmed If

An EPS below $0.10 would confirm the bear case, suggesting significant challenges in profitability.

Pre-Earnings Positioning

Options Market

Implied Move

±5.94%

Historical Avg

±1.6%

Pricing rich

The options market is pricing in a significant potential move, suggesting that investors expect notable volatility around the earnings report.

Options are pricing ±5.9% while PNW has averaged ±1.6% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.2%

30d HV

18.1%

Calls (500)P/C Ratio: 2.00Puts (1K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Pinnacle West beats expectations, history suggests the stock could rise by around 1.18%, confirming a positive outlook.

In-Line / Cautious

If results are in line with expectations, the stock may experience modest movement as investors await further guidance.

Miss

Should the company miss expectations, history suggests a potential decline of about 0.81%, raising concerns about its operational performance.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on customer acquisition strategies and their effectiveness.
2Details on operational costs and how they are being managed.
3Insights into regulatory changes that may impact the utility sector.
4Comments on future growth initiatives and investments in renewable energy.
5Management's outlook on market conditions and competitive landscape.

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Company Snapshot

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a critical measure of profitability and will indicate how well the company is managing its costs and revenues.

N/A

Revenue Growth

Revenue growth reflects the company's ability to expand its customer base and increase sales, which is vital in the competitive utilities market.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

PNW Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

75%

Avg EPS Surprise

+123.53%

Avg Stock Reaction

+0.68%

Last Quarter Recap

Management Promises & Guidance

Expectations

Wall Street Expectations

Bull Case

If Pinnacle West can demonstrate strong revenue growth and an increase in customer count, it could signal a robust business model and positive market conditions.

Bear Case

Conversely, if the company reports disappointing revenue or a decline in customer base, it may raise concerns about its competitive position and future profitability.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the EPS be for Q2-2026?

EPS is a key indicator of profitability and will significantly influence investor sentiment and stock performance.

How many new customers has Pinnacle West added in the last quarter?

Customer growth is crucial for revenue expansion, and any decline could raise red flags about the company's market position.

Edge

What the Street Is Missing

Why consensus could be wrong

The market may be underestimating the potential for customer growth in the face of rising energy demands, especially as more consumers shift towards renewable energy sources.

Supporting Evidence

Pinnacle West has historically shown a strong ability to surprise on EPS, with a 75% beat rate over the last eight quarters.

The options market is pricing in a larger move than historical averages, indicating that traders expect significant developments.

Recent trends in energy consumption suggest a growing demand for utility services, which could benefit Pinnacle West.

Key Risk

If customer growth exceeds expectations, it could significantly alter the market's perception of the company's future prospects.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter, the focus will be on profitability and customer growth, which are critical for determining the company's future trajectory.

Bull Confirmed If

An EPS of $0.50 or higher would confirm the bull case, indicating strong profitability.

Bear Confirmed If

An EPS below $0.10 would confirm the bear case, suggesting significant challenges in profitability.

Pre-Earnings Positioning

Options Market

Implied Move

±5.94%

Historical Avg

±1.6%

Pricing rich

The options market is pricing in a significant potential move, suggesting that investors expect notable volatility around the earnings report.

Options are pricing ±5.9% while PNW has averaged ±1.6% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.2%

30d HV

18.1%

Calls (500)P/C Ratio: 2.00Puts (1K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Pinnacle West beats expectations, history suggests the stock could rise by around 1.18%, confirming a positive outlook.

In-Line / Cautious

If results are in line with expectations, the stock may experience modest movement as investors await further guidance.

Miss

Should the company miss expectations, history suggests a potential decline of about 0.81%, raising concerns about its operational performance.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on customer acquisition strategies and their effectiveness.
2Details on operational costs and how they are being managed.
3Insights into regulatory changes that may impact the utility sector.
4Comments on future growth initiatives and investments in renewable energy.
5Management's outlook on market conditions and competitive landscape.