--- title: "Pinnacle West | 8-K: FY2025 Revenue Beats Estimate at USD 5.34 B" type: "News" locale: "zh-HK" url: "https://longbridge.com/zh-HK/news/276894303.md" datetime: "2026-02-25T13:27:08.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/276894303.md) - [en](https://longbridge.com/en/news/276894303.md) - [zh-HK](https://longbridge.com/zh-HK/news/276894303.md) --- > 支持的語言: [简体中文](https://longbridge.com/zh-CN/news/276894303.md) | [English](https://longbridge.com/en/news/276894303.md) # Pinnacle West | 8-K: FY2025 Revenue Beats Estimate at USD 5.34 B Revenue: As of FY2025, the actual value is USD 5.34 B, beating the estimate of USD 5.316 B. EPS: As of FY2025, the actual value is USD 5.05, beating the estimate of USD 5.0016. EBIT: As of FY2025, the actual value is USD 1.16 B. ### Net Income Attributable to Common Shareholders Net income attributable to common shareholders for Pinnacle West Capital Corporation was $616.5 million for the full-year 2025, an increase from $608.8 million in 2024. For the fourth quarter ended December 31, 2025, this figure was $15.4 million, compared to a net loss of - $6.8 million for the same period in 2024. ### Operating Revenues Operating revenues for the full-year 2025 reached $5,339,939 thousand, up from $5,124,915 thousand in 2024. For the fourth quarter of 2025, operating revenues were $1,128,167 thousand, compared to $1,095,408 thousand in the fourth quarter of 2024. ### Operating Expenses Total operating expenses for the full-year 2025 were $4,272,309 thousand, an increase from $4,112,852 thousand in 2024. In the fourth quarter of 2025, operating expenses were $1,007,157 thousand, a slight decrease from $1,010,870 thousand in the fourth quarter of 2024. - **Fuel and purchased power:** Full-year 2025 saw $1,933,420 thousand, up from $1,822,566 thousand in 2024. Fourth-quarter 2025 was $420,372 thousand, compared to $396,148 thousand in Q4 2024. - **Operations and maintenance:** Full-year 2025 was $1,185,065 thousand, compared to $1,165,156 thousand in 2024. Fourth-quarter 2025 was $298,734 thousand, a decrease from $327,251 thousand in Q4 2024. - **Depreciation and amortization:** Full-year 2025 was $915,343 thousand, up from $895,346 thousand in 2024. Fourth-quarter 2025 was $226,955 thousand, compared to $230,585 thousand in Q4 2024. - **Taxes other than income taxes:** Full-year 2025 amounted to $234,797 thousand, up from $227,395 thousand in 2024. Fourth-quarter 2025 was $59,376 thousand, compared to $56,803 thousand in Q4 2024. - **Other expenses:** Full-year 2025 was $3,684 thousand, up from $2,389 thousand in 2024. Fourth-quarter 2025 was $1,720 thousand, compared to $83 thousand in Q4 2024. ### Operating Income Operating income for the full-year 2025 was $1,067,630 thousand, an increase from $1,012,063 thousand in 2024. For the fourth quarter of 2025, operating income was $121,010 thousand, up from $84,538 thousand in the same period of 2024. ### Interest Expense (Net) Net interest expense for the full-year 2025 was $421,968 thousand, compared to $377,472 thousand in 2024. For the fourth quarter of 2025, net interest expense was $113,959 thousand, up from $94,960 thousand in Q4 2024. ### Income Taxes (Benefit) Income taxes for the full-year 2025 were $106,726 thousand, down from $110,529 thousand in 2024. For the fourth quarter of 2025, there was an income tax benefit of - $3 thousand, compared to - $10 thousand in Q4 2024. ### Operational Metrics APS, the principal subsidiary of Pinnacle West Capital Corporation, experienced robust customer growth of 2.4% in 2025. Weather-normalized, year-over-year retail electricity sales growth was 5.0% in 2025. APS customers set three all-time peak demand records in 2025, with peak demand rising more than 5% over the prior year. The company expanded customer assistance programs, connecting Arizonans to about $70 million in annual support in 2025 and has provided over $6 million for statewide heat-relief initiatives since 2021. ### Outlook / Guidance For 2026, Pinnacle West Capital Corporation estimates its consolidated earnings will be within a range of $4.55 to $4.75 per diluted share on a weather-normalized basis. Key factors and assumptions for this outlook are available in the year-end/fourth-quarter 2025 earnings presentation slides. ### 相關股票 - [Pinnacle West (PNW.US)](https://longbridge.com/zh-HK/quote/PNW.US.md) ## 相關資訊與研究 - [Tema Etfs LLC Boosts Stake in Pinnacle West Capital Corporation $PNW](https://longbridge.com/zh-HK/news/281504553.md) - [Pinnacle Bancshares Inc. Q4 net charge-offs rise over 3x to USD 0.34 million](https://longbridge.com/zh-HK/news/273423339.md) - [eXoZymes Updates Investor Presentation for NCTx Business](https://longbridge.com/zh-HK/news/281205675.md) - [Fortuna Metals Issues Cautionary Corporate Presentation on Exploration Activities](https://longbridge.com/zh-HK/news/280920935.md) - [EPL Limited Unveils Investor Presentation on Indovida India Merger Scheme](https://longbridge.com/zh-HK/news/280916914.md)