Pinnacle West Capital (PNW) Q4 2022 Earnings Call Transcript

For the period ending December 31, 2022

February 27, 2023 11:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good day, everyone, and welcome to the Pinnacle West Capital Corporation 2022 Fourth Quarter Earnings Call. At this time, all participants have been placed on a listen-only mode and the floor will be opened for 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 fourth quarter and full-year 2022 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 are 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 annual 2022 Form 10-K 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 March 6, 2023.

Now, I will turn the call over to Jeff.

Jeffrey Guldner

Thanks, Amanda, and thank you all for joining us today. Good morning. In looking back on 2022, it was no doubt one of our most challenging years in recent memory is we faced major financial headwinds and a financial reset resulting from the outcome of our last rate case. I'm going to provide several updates today and share the successes we were able to achieve, despite the challenges we faced. Coming out of last rate case, we laid out a comprehensive plan and strategy and we met or exceeded nearly every target we set for ourselves, including delivering strong service reliability to our customers. We made significant progress in the last year but we're not done and we look forward to continuing to execute our plan.