Trade Pinnacle West - PNW CFD

Pinnacle West Company profile

About Pinnacle West Capital Corporation

Pinnacle West Capital Corporation is an electric utility holding company. The Company provides energy and energy-related products to people and businesses throughout Arizona. The Company operates through regulated electricity segment, which consists of traditional regulated retail and wholesale electricity businesses and related activities, and includes electricity generation, transmission and distribution. It operates through its subsidiary, Arizona Public Service Company (APS) which is an electric company that generates electricity for approximately 1.3 million retail customers in 11 of Arizona’s 15 counties. APS is also the operator and co-owner of Palo Verde, a primary source of electricity for the southwest United States and nuclear power plant in the United States.

Financial summary

BRIEF: For the fiscal year ended 31 December 2021, Pinnacle West Capital Corporation revenues increased 6% to $3.8B. Net income before extraordinary items increased 16% to $582.2M. Revenues reflect an increase in demand for the Company's products and services due to favorable market conditions. Net income benefited from Pension and other postretirement non-ser increase of 100% to $112.5M (income), Miscellaneous decrease of 76% to $11M (expense).

Equity composition

Common Stock no Par, 4/11, 150M auth., 109,016,655 o/s., net of shs. in Treas. @ cost. Insiders own 0.34%. 4/85, Stock issd. as per reorg. of AZ Public Service Co. (Basis: 1-for-1). PO 12/02, 5.7M shs @ $31.50 by Credit Suisse First Boston.