Pinnacle West Capital Corporation Q4 2025 Earnings Call Summary

Achieved 2025 earnings of $5.05 per share, landing in the upper half of guidance despite a $0.71 year-over-year headwind from milder weather compared to the record heat of 2024. Capitalized on Arizona's industrial expansion, specifically citing TSMC's multi-fab development and a 900-acre land acquisition as primary drivers for infrastructure requirements. Managed robust 5% weather-normalized sales growth in 2025, fueled by a 7.5% increase in commercial and industrial (C&I) demand and the highest resid ...