Pinnacle West Capital (PNW) 10-K Summary — Year Ended Dec 31, 2023
Pinnacle West Capital Corporation filed its annual 10-K for the most recent fiscal year. The filing covers the company's business, risk factors, management discussion, and liquidity and capital resources.
Key takeaway
Year ended Dec 31, 2023 · FY2025 10-K
Pinnacle West Capital Corporation filed its annual 10-K for the most recent fiscal year. The filing covers the company's business, risk factors, management discussion, and liquidity and capital resources.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$4.7B
Revenue reported for the fiscal year.
Operating income
$824.6M
Income from operations reported for the year.
Net income
$518.8M
Net income reported for the year.
Operating cash flow
$1.2B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2021 | $3.8B | n/a |
| Dec 31, 2022 | $4.3B | +13.7% |
| Dec 31, 2023 | $4.7B | +8.6% |
Business overview
The company operates as a holding company, with its primary business conducted through its regulated electric utility subsidiary. It generates, transmits, and distributes electricity to customers in a defined service territory. The business overview section outlines these regulated operations and related activities.
Financial performance
Revenue increased compared to the prior year, while operating income and net income were reported at specific levels. Operating cash flow was also reported for the period. The trend shows revenue growth over the past three fiscal years.
Material risks
The filing identifies risk factors in Item 1A, which include regulatory, operational, and market risks. These risks could affect the company's financial condition or results of operations. The filing does not provide further detail in the supplied context.
Liquidity and capital
The liquidity and capital resources section is referenced in the management discussion and analysis. The filing does not provide specific capital allocation themes beyond this reference.
What to watch
Readers should monitor any updates to the risk factors or regulatory developments in the next filing.