PNWPinnacle West Capital Corporation

$12B

Q4 2022 Earnings

Utilities Regulated Electric

Income Statement

Revenue

$1.0B+26.3% YoY

Gross Profit

$282M28.0% margin

Operating Income

$37M3.6% margin

Net Income

-$24M-2.4% margin

EPS (Diluted)

$-0.21

QoQ Revenue Growth

-31.3%

Cash Flow

Operating Cash Flow

$210M

Free Cash Flow

-$221M

Stock-Based Comp.

$3M

Balance Sheet

Total Assets

$22.7B

Total Liabilities

$16.6B

Stockholders' Equity

$6.0B

Cash & Equivalents

$5M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$1.0B	$799M	+26.3%
Gross Profit	$282M	$280M	+0.9%
Operating Income	$37M	$50M	-26.5%
Net Income	-$24M	$28M	-187.0%

Revenue Segments

Electric Service

$398M68%

Wholesale Energy

$185M32%

PNW Q4 2022 Earnings — Pinnacle West Capital Corporation Revenue & Financial Results | Market Cap Arena