Short answer
Pinnacle West Capital (PNW) filed its Q3 2025 10-Q quarterly report on Nov 3, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $1.8B (up 2.9% year over year) with net income of $413M.
Q3 2025 key financials · XBRL
- Revenue
- $1.8B
- +2.9% YoY · +34.0% QoQ
- Net income
- $413M
- +4.6% YoY · +114.6% QoQ
- Operating margin
- 32.0%
- EPS (diluted)
- $3.39
- −0.3% YoY · +114.6% QoQ
Source: XBRL data from the Pinnacle West Capital (PNW) Q3 2025 10-Q on SEC EDGAR. USD.
Pinnacle West Capital Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Profitability or margin change figures not included
- Energy derivatives mark-to-market loss improved to $(11)M from $(99)M YoY over nine months ended September 30
- Cash flows or capital deployment details not provided
- Management highlights active commodity price risk hedging with derivatives; no updated guidance or emerging risks mentioned
Risk Factors
- New risk: APS updated clean energy goal to carbon-neutral by 2050, dependent on policies, technologies, supply chain, and capital access
- Most materially updated: Challenges in developing/acquiring generation resources due to evolving regulatory, environmental, and operational factors
- Regulatory risk: ACC mandates on renewable portfolio, energy efficiency, and competitive resource procurement create strategic and compliance complexities
- Operational risk: Opposition from environmental groups on fossil fuel projects increasing, potentially hindering infrastructure development
- Financial risk: No material changes disclosed related to liquidity, debt, currency, or concentration since 2024 10-K
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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