Pinnacle West Capital Corporation (PNW) earnings on August 4, 2026
More Pinnacle West Capital Corporation earnings
Prior outlook: Pessimistic Outcome: Partial
The stock dropped as much as 2.27% early in the day but then climbed back and closed up 0.63%. Many analysts were betting it would fall, yet it rose anyway.
PNW price around the earnings
101.45
Change: +0.6%
2026-08-04, 20:00 UTC
- Price: green if it ends above the starting price; red if it ends below
- End of the measured window
- Starting price
Prior thesis
Prior outlook: Pessimistic Outcome: Partial
- Thesis published
- Results released
Weak outlook, the scenario is pessimistic
Experts see a weak setup: the stock has been falling recently and analysts see a pessimistic scenario, even though the company has a good record of beating earnings forecasts.
Context analyzed before publication
- Summary
- Weak outlook, the scenario is pessimistic
- Playbook
- The stock has dropped about 5% in two weeks and 8% in a month, underperforming the broader market. Analysts mostly rate it a hold with a modest price target.
- Trend
- Expert outlook worsened sharply over the week
Analysts
Drivers
-
Analysts
Negative
Most analysts say 'hold' and see only about 5% upside to their price target. Some have recently cut their price targets.
Evidence
- Analyst consensus
- Hold
- Consensus average (1-5)
- 2.59
- Analysts covering the stock
- 14
- Average price target
- 105.79
- Lowest price target
- 87
- Highest price target
- 129
- Upside to price target
- 4.9%
- Revenue growth
- 11.4%
- Forward EPS
- 5.57
- Trailing EPS
- 5.36
- Analyst moves in the last 60 days
- 2
- Strong buy: 0
- Buy: 4
- Hold: 12
- Sell: 0
- Strong sell: 1
- Strong buy
- 0
- Buy
- 4
- Hold
- 12
- Sell
- 0
- Strong sell
- 1
- July 22, 2026 · BMO Capital: Maintains rating (Market Perform → Market Perform)
- July 1, 2026 · Barclays: Maintains rating (Equal-Weight → Equal-Weight)
News and sentiment
Evidence
Sentiment
- Sentiment
- Constructive
- Mention volume
- High
- Normalized volume
- 99%
News
Sources (1)
- BMO Capital Maintains Market Perform on Pinnacle West Capital, Lowers Price Target to $104 (opens in a new tab) — Benzinga
Technicals
Drivers
-
Technical
Negative
The stock's trend is clearly down: it fell about 5% in two weeks and 8% in a month, and it's lagging the overall market by nearly 10%.
Evidence
- Price when the context was analyzed
- 100.85
- Average true range (ATR)
- 1.9%
- Distance to 52-week high
- -7.7%
- 14-day change (14d)
- -5.2%
- 30-day change (32d)
- -7.8%
- 30-day relative strength
- -9.5%
- SPY change (32d)
- +1.7%
- Nearest support
- 100.65
- Distance to nearest support
- 0.2%
- Nearest resistance
- 101.4
- Distance to nearest resistance
- 0.6%
- Volume accumulation ratio (14d / 46d)
- 1.16
- Mid: 100.65 (0.2% away, 0.1 ATR, 18 touches)
- Major: 100 (0.8% away, 0.43 ATR, 22 touches)
- Mid: 99.12 (1.7% away, 0.88 ATR, 17 touches)
- Major: 101.4 (0.6% away, 0.28 ATR, 32 touches)
- Major: 102.31 (1.4% away, 0.74 ATR, 31 touches)
- Mid: 102.71 (1.9% away, 0.95 ATR, 17 touches)
Trends
Evidence
- Average earnings surprise
- +4092.9%
- May 4, 2026: actual EPS 0.27 vs estimate (surprise +15889.5%)
- February 25, 2026: actual EPS 0.13 vs estimate 0.02 (surprise +472.7%)
- November 3, 2025: actual EPS 3.39 vs estimate 3.09 (surprise +9.7%)
- August 6, 2025: actual EPS 1.58 vs estimate 1.59 (surprise -0.4%)
Expected move
Drivers
-
Past earnings
Positive
The company has beaten earnings forecasts 75% of the time, with some big surprises, though one unusual data point makes the average less reliable.
- Implied move
- +1.2%
- Source
- Options chain
Reactions over its last 19 earnings
- Median move
- 1.6%
- 75th percentile move
- 2.4%
- 90th percentile move
- 3.9%
- Up / down moves
- 14 / 5
- Average up move
- +2.0%
- Average down move
- -1.6%
Monitoring and close
What Pinnacle West Capital Corporation reported
- Status
- Finished
| Actual EPS | 1.43 |
|---|---|
| EPS estimate | 1.47 |
| EPS surprise | -2.7% |
| Revenue | $1,455 million |
| Revenue estimate | $1,390 million |
| Revenue surprise | +4.7% |
Pinnacle West reported lower Q2 2026 results versus a year ago, with earnings lagging estimates by 4.03%. The company also lagged behind Ameren and sector performance this year.
Sources (8)
- Has Ameren (AEE) Outpaced Other Utilities Stocks This Year? (opens in a new tab) — Zacks
- Pinnacle West (PNW) Q2 Earnings Lag Estimates (opens in a new tab) — Zacks
- Pinnacle West Capital (NYSE:PNW) Falls as Q2 EPS Misses Offsets Revenue Beat (opens in a new tab) — ChartMill
- Pinnacle West Capital Files To Sell Up To $500M Of Common Stock (opens in a new tab) — Benzinga
- Pinnacle West Reports Lower 2026 Second-Quarter Financial Results Compared to a Year Ago (opens in a new tab) — Yahoo
- Pinnacle West earned $1.43 per share, missing the $1.47 estimate, but revenue beat expectations at $1.455 billion versus $1.390 billion. — Benzinga
- Pinnacle West Capital Q2 EPS $1.43 Misses $1.47 Estimate, Sales $1.455B Beat $1.390B Estimate (opens in a new tab) — Benzinga
- Pinnacle West Capital Affirms FY2026 Adj EPS Guidance of $4.55-$4.75 vs $4.75 Est (opens in a new tab) — Benzinga
Pre-market second reading after the results
- Verdict
- Missed expectations
Heading into the open, results beat expectations on revenue but not on earnings, and the price is indicating -2.4% pre-market, a move above the stock's usual reaction (about 2%). The figures confirm the pessimistic scenario. In the 1,596 similar cases in our market history, the close held that direction 75% of the time.
How the stock reacted
- Outcome
- Partial
- Consolidated
- +0.6%
- Max favorable move (MFE)
- 2.3%
- Max adverse move (MAE)
- 1.3%