Last $64.08 USD
Change Today -0.32 / -0.50%
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pinnacle west capital (PNW) Key Developments

Pinnacle West Capital Corporation Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2014; Provides Earnings Guidance for 2015

Pinnacle West Capital Corporation announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, the company reported operating revenues of $726,450,000 against $699,762,000 a year ago. Operating income was $60,184,000 against $83,900,000 a year ago. Income before income tax was $14,542,000 against $41,981,000 a year ago. Net income attributable to common shareholders was $5,410,000 or $0.05 per diluted share against $24,260,000 or $0.22 per diluted share a year ago. Income from continuing operations attributable to common shareholder was $0.05 per diluted share against $0.22 per diluted share a year ago. Lower depreciation and amortization expenses increased earnings by $0.01 per share, in part due to the Palo Verde Unit 2 lease extension announced in July, offset by additional plant in service. For the year, the company reported operating revenues of $3,491,632,000 against $3,454,628,000 a year ago. Operating income was $811,242,000 against $846,323,000 a year ago. Income before income tax was $644,401,000 against $670,557,000 a year ago. Net income attributable to common shareholders was $423,696,000 or $3.58 per diluted share against $439,966,000 or $3.66 per diluted share a year ago. Income from continuing operations attributable to common shareholder was $3.58 per diluted share against $3.66 per diluted share a year ago. For 2015, the company continues to expect its on-going consolidated earnings will be within a range of $3.75 to $3.95 per diluted share. Longer-term, the company's goal is to achieve a consolidated earned return on average common equity of more than 9.5% annually through 2016.

Pinnacle West Capital Corporation to Report Q4, 2014 Results on Feb 20, 2015

Pinnacle West Capital Corporation announced that they will report Q4, 2014 results at 9:00 AM, Eastern Standard Time on Feb 20, 2015

Pinnacle West Capital Corporation, Q4 2014 Earnings Call, Feb 20, 2015

Pinnacle West Capital Corporation, Q4 2014 Earnings Call, Feb 20, 2015

Pinnacle West Capital Corporation Enters into a $125 Million Unsecured Term Loan

On December 31, 2014, Pinnacle West Capital Corporation entered into a $125 million unsecured term loan with JPMorgan Chase Bank, N.A., as Agent, U.S. Bank Association, as Syndication Agent, TD Bank, N.A., The Bank of Nova Scotia and The Bank of Tokyo-Mitsubishi UFJ Ltd., as Co-Documentation Agents, and such institutions compromising the lenders party thereto. The obligations under the New Term Loan will mature and become due and payable on December 31, 2017. Pinnacle West used the proceeds of the New Term Loan to refinance and pay in full its unsecured term loan of similar amount, dated November 29, 2012, with JPMorgan Chase Bank, N.A., as Agent, SunTrust Bank, as syndication Agent, U.S. Bank National Association, as Documentation Agent, and the lenders party thereto, which terminated upon the repayment. Borrowings under the New Term Loan will bear interest based on Pinnacle West's then-current senior unsecured debt or bank facility ratings.

Pinnacle West Capital Corporation Declares Quarterly Dividend, Payable on March 2, 2015

Pinnacle West Capital Corporation’s Board of Directors declared a quarterly dividend of $0.595 per share of common stock, payable on March 2, 2015, to shareholders of record on February 2, 2015.

 

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Price/Sales 2.0x
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Price/Cash Flow 8.7x
TEV/Sales 1.0x
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