Phoenix, Arizona-based Pinnacle West Capital Corporation (PNW) provides retail and wholesale electric services primarily in the state of Arizona. With a market cap of $11.3 billion, Pinnacle West Capital engages in the generation, transmission, and distribution of electricity using coal, nuclear, gas, oil, and solar generating facilities.

The utility major is set to unveil its first-quarter results before the markets open on Thursday, May. 1. Ahead of the event, analysts expect PNW to report a non-GAAP loss of $0.01 per share, notably down from the profit of $0.15 per share reported in the year-ago quarter. On a positive note, the company has surpassed the Street’s bottom-line projections in each of the past four quarters.

For the full fiscal 2025, its earnings are expected to come in at $4.50 per share, down 14.1% from $5.24 per share reported in the year-ago quarter. While in fiscal 2026, its earnings are expected to rebound 17.1% year-over-year to $5.27 per share.

PNW stock has soared 25.3% over the past 52 weeks, significantly outperforming the Utilities Select Sector SPDR Fund’s (XLU) 16.1% gains and the S&P 500 Index’s ($SPX) 3.8% uptick during the same time frame.

PNW stock prices gained 1.1% after the release of its better-than-expected Q4 results on Feb. 25. Driven by growth in new customer rate, the company’s operating revenues increased 10.5% year-over-year to $1.1 billion, coming in line with Street’s expectations. Meanwhile, although the company reported a notable drop in profitability and reported a net loss of $6.8 million compared to the loss of $23,000 reported in the year-ago quarter, it was already anticipated. Its loss per share of $0.06 surpassed the Street’s projections of a $0.15 loss per share by a significant margin, which boosted investor confidence.

The consensus opinion on PNW is cautiously optimistic, with a “Moderate Buy” rating overall. Of the 13 analysts covering the stock, opinions include six “Strong Buys” and seven “Holds.” Its mean price target of $98.25 suggests a 5.4% upside potential from current price levels.