Pinnacle West Capital (PNW) Q1 2023 Earnings Call Transcript

For the period ending March 31, 2023

May 4, 2023 12:00 p.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good day, everyone, and welcome to the Pinnacle West Capital Corporation 2023 First Quarter Earnings Conference Call. At this time, all participants have been placed 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 2023 earnings, recent developments and operating performance.

Our speakers today will be our Chairman and CEO, Jeff Guldner; and our CFO, Andrew Cooper. Ted Geisler, APS’ President; Jacob Tetlow, Executive Vice President of Operations; and Jose Esparza, Senior Vice President of Public Policy, 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, and actual results may differ materially from expectations.

Our first quarter 2023 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, 2023. I will now turn the call over to Jeff.

Jeffrey Guldner

Great. Thanks Amanda and thank you all for joining us today. 2023 has started off in line with the financial guidance that we provided on the fourth quarter call in February. And before Andrew discusses the details of our first quarter results, I will provide a few updates on recent operational and regulatory developments.

First off, as you know, safety is our number one priority, and I do want to take this opportunity to congratulate our employees for keeping safety in sharp focus in the first quarter, especially through an unseasonably long and challenging winter period.

We discussed summer preparedness quite extensively, and that is our longest and highest peak demand season in Arizona. But winter preparedness is also an important part of how we reliably serve our customers throughout the year.