Pinnacle West Capital (PNW) Q1 2022 Earnings Call Transcript

For the period ending March 31, 2022

May 4, 2022 12:00 p.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good afternoon, ladies and gentlemen, and welcome to the Pinnacle West Capital Corporation 2022 First Quarter Earnings Conference Call. At this time all participants have been on a listen-only mode and we will open the floor for your questions and comments after the presentation.

It is now my pleasure to turn the floor over to your host, Amanda Ho. Ma'am, the floor is yours.

Amanda Ho

Thank you, Matt. I would like to thank everyone for participating in this conference call and webcast to review our first quarter 2022 earnings, recent developments and operating performance. Our speakers today will be our Chairman and CEO, Jeff Guldner; and our CFO, Ted Geisler; Barbara Lockwood, Senior Vice President, Public Policy; and Jacob Tetlow, Executive Vice President, Operations, are also here with us.

First, I need to cover a few details with you. The slides that we will be using are available on our Investor Relations website, along with our earnings release and related information. Today's comments and our slides contain forward-looking statements based on current expectations that actual results may differ materially from expectations. Our annual 2022 Form 10-Q was filed this morning.

Please refer to that document for forward-looking statements, cautionary language as well as the risk factors and MD&A sections, which identify risks and uncertainties that could cause actual results to differ materially from those contained in our disclosures. A replay of this call will be available shortly on our website for the next 30 days. It will also be available by telephone through May 11, 2022.

I will now turn the call over to Jeff.

Jeff Guldner

Great. Thank you, Amanda. Thank you all for joining us today. 2022 started off in line with the financial guidance that we provided coming out of the rate case decision last year. And before Ted discusses the details of our first quarter results, let me provide a few updates on recent operational and regulatory developments, and then I'll touch on our progress towards achieving our 2022 goals.

First off, as you know, safety is our number one priority and I do want to take this opportunity to commend and congratulate our employees for keeping safety and sharp focus in the first quarter. Significant injuries or fatalities or SIFs are the most important safety metric and we completed the quarter with no serious injuries. SIF is a metric that's focused on preventing serious injuries by improving hazard recognition, risk-based decision-making, procedures, equipment selection, employee training and much more because we don't leave anything to chance when it comes to the safety of our people on the job. And I'm grateful to our employees for taking accountability to operate by one of our principles within the APS promise, that's anchoring and safety, and to help their coworkers to do the same.