Pinnacle West's Q3 2026 Earnings: What to Expect

Phoenix, Arizona-based Pinnacle West Capital Corporation (PNW) provides retail and wholesale electric services in the state of Arizona. Valued at a market cap of $12.3 billion, the company engages in the generation, transmission, and distribution of electricity using nuclear, gas, oil, coal, and solar generating facilities, and owns and maintains substations, including transmission and distribution yards, as well as energy storage facilities. 

PNW is expected to release its Q3 2026 earnings on Tuesday, November 3, 2026, before the market opens. Ahead of this event, analysts anticipate the company will generate earnings of $3.31 per share, representing a fall of 2.4% from $3.39 per share reported in the same quarter last year. The company has surpassed the Street’s bottom-line estimates in three of the past four quarters, while missing on one occasion.

For fiscal 2026, analysts expect the company to report an EPS of $4.80, indicating a 5% decline from $5.05 reported in fiscal 2025. However, analysts expect EPS to rise nearly 16.5% year over year (YoY) to $5.59 in fiscal 2027.   

Pinnacle West shares have grown around 9.2% over the past 52 weeks, underperforming the S&P 500 Index’s ($SPX) 16.2% rise but rallying the State Street Utilities Select Sector SPDR ETF’s (XLU) 9% fall during the same time frame.  

On Aug. 4, PNW stock rose marginally following the release of its mixed Q2 2026 earnings. The company’s revenue for the quarter amounted to $1.5 billion and surpassed the Street’s estimates. However, its adjusted EPS came in at $1.43, failing to meet the consensus estimates. Moreover, management also shrank its outlook for the full-year earnings, now expecting its EPS to be in the range of $4.55 to $4.75. 

Analysts’ consensus opinion on the stock is moderately bullish, with a “Moderate Buy” rating overall. Of the 18 analysts covering the stock, five recommend a “Strong Buy,” and 13 recommend a “Hold.” PNW’s average analyst price target is $101.69, which is below the current price level. However, its Street-high price target is $112, indicating an upside of 9.8% from the current level. 

On the date of publication, Aritra Gangopadhyay did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.