Pinnacle West Capital (PNW) Revenue — Quarter Ended Mar 31, 2024
Revenue for the quarter declined from the prior quarter but showed a modest increase compared to the same quarter last year. The trailing twelve-month revenue remained substantial.
Key takeaway
Quarter ended Mar 31, 2024 · FY2024 Q1
Revenue for the quarter declined from the prior quarter but showed a modest increase compared to the same quarter last year. The trailing twelve-month revenue remained substantial.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$951.7M
Revenue reported for this quarter.
Quarter-over-quarter
-4.0%
Change from the immediately preceding quarter.
Year-over-year
+0.7%
Change from the comparable year-ago quarter.
Trailing four quarters
$4.7B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jun 30, 2023 | $1.1B | +5.7% |
| Sep 30, 2023 | $1.6B | +11.4% |
| Dec 31, 2023 | $991.6M | -1.8% |
| Mar 31, 2024 | $951.7M | +0.7% |
Revenue performance
The reported revenue decreased sequentially, continuing a pattern seen in the previous quarter. Year-over-year, revenue edged higher.
Quarterly comparison
When compared to the immediately preceding quarter, revenue was lower. However, compared to the same quarter one year ago, revenue was slightly higher.
What to watch
The sequential decline in revenue warrants attention as it follows a similar trend from the prior quarter.