| PNW |
Report |
Q2 EPS |
BEAT |
pred ~$1.55 vs. cons $1.49 |
MEDIUM |
| PNW |
Report |
Q2 Revenue |
BEAT |
pred ~$1.43B vs. cons $1.40B |
LOW |
| PNW |
Report |
Retail sales/load growth (YoY) |
BEAT |
pred ~7% vs. cons ~5% |
MEDIUM |
| PNW |
Guide |
FY2026 EPS guidance (weather-normalized) |
UNCHANGED |
guide ~$4.55–$4.75 (mid $4.65) vs. cons $4.65 (FY2026) |
HIGH |
| PNW |
Guide |
FY2026 retail sales growth guidance |
UNCHANGED |
guide ~4–6% vs. cons ~5% (FY2026) |
MEDIUM |
| PNW |
Guide |
APS rate case outcome (ROE/net increase, FRAM) |
UNKNOWN |
APS ask ~$611M net / 10.70% ROE vs. Staff ~$506M / 9.55% ROE (ROO/decision Q4 2026) |
LOW |
| PNW |
Guide |
Long-term EPS CAGR / 2026 IRP capex signal |
UNCHANGED |
guide 5–7% LT EPS CAGR vs. cons ~6% (through 2030); IRP capex upsize deferred to post-rate-case |
MEDIUM |
| PNW |
Return |
Day-1 residual (stock − beta × S&P 500) |
+0.8% |
— |
LOW |
| PNW |
Return |
5-day cumulative residual |
-0.5% (FADE) |
A hot-Arizona-summer Q2 beat is largely weather-driven, and since FY guidance is weather-normalized management reaffirms rather than raises, so there are no meaningful upward out-period estimate revisions. The stock already ran to ~$109 in mid-July and has pulled back ~8% into the print on sector (XLU) weakness, and the rate-case ROO overhang (wide APS-vs-Staff ROE gap) caps upside. Initial weather pop fades as estimates hold flat and defensive utility bid rotates elsewhere. |
LOW |