Pinnacle West Capital (PNW) Q3 FY2026 earnings: revenue $2.0 billion, up 8.3% on the year
Pinnacle West Capital Corp. (PNW) reported revenue of $2.0 billion for Q3 FY2026, the quarter ended 30 September 2026, up 8.3% on the same quarter a year earlier. Net income was $434 million, up 5.1% on the year, and diluted earnings per share $3.49. The figures are the company's own, from the 10-Q it filed with the SEC on 3 November 2026.
Revenue
$2.0 billion
+8.3% on the year · +35.5% on the quarter
Q4 FY2024Q3 FY2026
Operating margin
31.5%
32.0% a year earlier
Q4 FY2024Q3 FY2026
Net income
$434 million
+5.1% on the year · +143.2% on the quarter
Q4 FY2024Q3 FY2026
Diluted EPS
$3.49
+2.9% on the year · +144.1% on the quarter
Q4 FY2024Q3 FY2026
this quarterthe same quarter a year earlierHover a bar for its figure.
What management said
Guidance figures: 1 raised.
Third-quarter diluted EPS rose to $3.49: Net income attributable to common shareholders was $434.2 million, or $3.49 per diluted share, against $413.2 million, or $3.39, a year earlier. Diluted shares averaged 124,339 thousand, against 121,956 thousand.
Sales and usage drove the increase: The company attributed the increase of about $21 million mainly to higher customer sales and usage, weather effects versus a year ago, and customer growth.
Commercial and industrial sales up 14.5%: Commercial and industrial sales rose 14.5% and residential sales 4.5%. The company tied the growth to the strength of the state's economy.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
Q3 FY2026
Q2 FY2026
Q3 FY2025
On the quarter
On the year
Last 8 quarters
Operating cash flow
723
394
665
+83.6%
+8.7%
Capital expenditure
735
729
623
+0.8%
+17.9%
Free cash flow
-11.4
-335
42.0
Free cash flow margin
-0.6%
-23.0%
2.3%
Cash from investing
-671
-649
-580
Cash from financing
-49.8
257
-73.2
Depreciation and amortisation
259
257
239
+0.8%
+8.4%
Share-based compensation
7.6
4.6
8.9
+64.2%
-15.0%
Dividends paid
110
110
105
+0.0%
+4.7%
Dividend per share
$0.00
$1.82
$0.00
Diluted shares, weighted
124m
124m
122m
-0.1%
+2.0%
Shares outstanding at period end
121m
121m
120m
+0.0%
+1.3%
Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.
Balance sheet
$ million
Q3 FY2026
Q2 FY2026
Q3 FY2025
On the quarter
On the year
Last 8 quarters
Shareholders' equity
7,479
7,035
7,168
+6.3%
+4.3%
Non-controlling interest
42.5
40.3
43.1
+5.4%
-1.3%
Debt
11,428
11,369
10,480
+0.5%
+9.0%
Operating lease liabilities
5,329
4,943
3,563
+7.8%
+49.6%
Other liabilities
9,185
9,190
8,639
-0.0%
+6.3%
Total liabilities and equity
33,464
32,577
29,893
+2.7%
+11.9%
Fixed assets
18,643
18,611
17,316
+0.2%
+7.7%
Intangible assets
525
536
544
-2.0%
-3.5%
Cash and equivalents
11.1
9.1
30.9
+21.9%
-64.0%
Other assets
14,285
13,421
12,001
+6.4%
+19.0%
Total assets
33,464
32,577
29,893
+2.7%
+11.9%
Questions
What was Pinnacle West Capital's revenue in Q3 FY2026?
Pinnacle West Capital (PNW) reported revenue of $2.0 billion for Q3 FY2026, the quarter ended 30 September 2026, up 8.3% on the same quarter a year earlier.
How much did Pinnacle West Capital earn in Q3 FY2026?
Net income for Q3 FY2026 was $434 million, up 5.1% on the year, and diluted earnings per share $3.49.
When did Pinnacle West Capital report Q3 FY2026 results?
Pinnacle West Capital filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 3 November 2026.
Each quarter as filed, linked to its filing. Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.
10-Q for the period ended 30 September 2026, filed 3 November 2026: the filing.