Subtext

Pinnacle West Capital Corporation PNW

SectorUtilities
Transcripts70
Date range2007-10-26 – 2025-05-01
Calls charted70

Sentiment timeline

Net Loughran-McDonald sentiment per call (×1000), earliest → latest.

-20-10+0+10+202007 Q32009 Q42012 Q22014 Q32016 Q42019 Q12021 Q22023 Q32007 Q3 · Overall: -2.02007 Q4 · Overall: +0.12008 Q1 · Overall: -0.42008 Q2 · Overall: -1.02008 Q3 · Overall: -5.12008 Q4 · Overall: -3.72009 Q1 · Overall: -2.42009 Q2 · Overall: +2.22009 Q3 · Overall: +2.32009 Q4 · Overall: +7.02010 Q1 · Overall: +3.82010 Q3 · Overall: +8.32010 Q4 · Overall: +5.92011 Q1 · Overall: -0.22011 Q2 · Overall: +3.82011 Q3 · Overall: +1.42011 Q4 · Overall: +3.92012 Q1 · Overall: -1.02012 Q2 · Overall: +8.12012 Q3 · Overall: +5.92012 Q4 · Overall: +5.82013 Q1 · Overall: +7.92013 Q2 · Overall: +2.12013 Q3 · Overall: -2.02013 Q4 · Overall: +1.52014 Q1 · Overall: -2.22014 Q2 · Overall: +0.52014 Q3 · Overall: +1.02014 Q4 · Overall: +2.22015 Q1 · Overall: -1.42015 Q2 · Overall: +5.62015 Q3 · Overall: -5.42015 Q4 · Overall: +3.72016 Q1 · Overall: -1.82016 Q2 · Overall: -1.52016 Q3 · Overall: +0.52016 Q4 · Overall: +1.92017 Q1 · Overall: -3.12017 Q2 · Overall: -3.12017 Q3 · Overall: +1.82017 Q4 · Overall: +6.12018 Q1 · Overall: -1.02018 Q2 · Overall: -7.92018 Q3 · Overall: +4.22018 Q4 · Overall: +2.62019 Q1 · Overall: -6.32019 Q2 · Overall: -3.92019 Q3 · Overall: -2.12019 Q4 · Overall: +3.82020 Q1 · Overall: -1.82020 Q2 · Overall: +1.22020 Q3 · Overall: +4.22020 Q4 · Overall: +1.62021 Q1 · Overall: -4.92021 Q2 · Overall: +0.82021 Q3 · Overall: +5.72021 Q4 · Overall: +7.92022 Q1 · Overall: +6.62022 Q2 · Overall: +6.42022 Q3 · Overall: +6.02022 Q4 · Overall: +7.02023 Q1 · Overall: +1.62023 Q2 · Overall: +4.32023 Q3 · Overall: +4.42023 Q4 · Overall: +7.72024 Q1 · Overall: +1.02024 Q2 · Overall: +1.62024 Q3 · Overall: +6.72024 Q4 · Overall: +17.52025 Q1 · Overall: +3.6
Overall

CEO vs CFO

Average sentiment of each executive's remarks per call. Divergence is a signal.

-25-12+0+12+252007 Q32009 Q42012 Q22014 Q32016 Q42019 Q12021 Q22023 Q32007 Q3 · CEO: +4.62008 Q1 · CEO: +3.02008 Q2 · CEO: +5.22008 Q3 · CEO: +6.12008 Q4 · CEO: +4.02009 Q1 · CEO: +3.22009 Q2 · CEO: +10.62009 Q3 · CEO: -0.52009 Q4 · CEO: +11.72010 Q1 · CEO: +6.12010 Q3 · CEO: +16.62010 Q4 · CEO: +15.62011 Q1 · CEO: +9.02011 Q2 · CEO: +12.22011 Q3 · CEO: +8.82011 Q4 · CEO: +13.02012 Q1 · CEO: +12.72012 Q2 · CEO: +13.92012 Q3 · CEO: +15.82012 Q4 · CEO: +21.72013 Q1 · CEO: +14.82013 Q2 · CEO: +8.42013 Q3 · CEO: -5.52013 Q4 · CEO: +0.02014 Q1 · CEO: +3.62014 Q2 · CEO: +4.32014 Q3 · CEO: +5.82014 Q4 · CEO: +2.42015 Q1 · CEO: +9.62015 Q2 · CEO: +16.32015 Q3 · CEO: -5.02015 Q4 · CEO: +13.92016 Q1 · CEO: +6.22016 Q2 · CEO: +9.52016 Q3 · CEO: +10.92016 Q4 · CEO: +9.72017 Q1 · CEO: +1.02017 Q2 · CEO: +7.22017 Q3 · CEO: +15.42017 Q4 · CEO: +12.62018 Q1 · CEO: -1.42018 Q2 · CEO: -7.92018 Q3 · CEO: +4.62018 Q4 · CEO: +8.92019 Q1 · CEO: -7.52019 Q2 · CEO: +0.52019 Q3 · CEO: +2.22019 Q4 · CEO: +10.32020 Q1 · CEO: -1.42020 Q2 · CEO: +4.22020 Q3 · CEO: +8.52021 Q2 · CEO: +4.02021 Q3 · CEO: +5.32021 Q4 · CEO: +9.92022 Q1 · CEO: +8.92022 Q2 · CEO: +19.42022 Q3 · CEO: +15.02022 Q4 · CEO: +21.12023 Q1 · CEO: +5.02023 Q2 · CEO: +14.52023 Q3 · CEO: +10.52023 Q4 · CEO: +15.72024 Q1 · CEO: +2.02024 Q2 · CEO: +5.62024 Q3 · CEO: +1.52025 Q1 · CEO: +8.32007 Q3 · CFO: -0.92008 Q2 · CFO: +0.02008 Q4 · CFO: -6.32009 Q1 · CFO: -8.12009 Q2 · CFO: +3.22009 Q3 · CFO: +9.52009 Q4 · CFO: +9.52010 Q1 · CFO: +5.92010 Q3 · CFO: +9.82010 Q4 · CFO: +9.12011 Q1 · CFO: +2.82011 Q2 · CFO: -0.72011 Q3 · CFO: +4.72011 Q4 · CFO: +2.92012 Q1 · CFO: -7.92012 Q2 · CFO: +9.42012 Q3 · CFO: +8.92012 Q4 · CFO: +8.22013 Q1 · CFO: +11.12013 Q2 · CFO: +9.32013 Q3 · CFO: +5.52013 Q4 · CFO: +8.22014 Q1 · CFO: +9.92014 Q2 · CFO: +7.52014 Q3 · CFO: +9.12014 Q4 · CFO: +12.42015 Q1 · CFO: +5.52015 Q2 · CFO: +6.32015 Q3 · CFO: +9.62015 Q4 · CFO: +12.62016 Q1 · CFO: +2.52016 Q2 · CFO: +3.72016 Q3 · CFO: +8.02016 Q4 · CFO: +8.42017 Q1 · CFO: +0.02017 Q2 · CFO: -1.52017 Q3 · CFO: +1.12017 Q4 · CFO: +4.32018 Q1 · CFO: +3.22018 Q2 · CFO: +1.52018 Q3 · CFO: +13.22018 Q4 · CFO: +3.02019 Q1 · CFO: +11.22019 Q2 · CFO: +3.22019 Q3 · CFO: +3.32020 Q1 · CFO: +2.72020 Q2 · CFO: +8.22020 Q3 · CFO: +12.52021 Q2 · CFO: +6.92021 Q3 · CFO: +16.72021 Q4 · CFO: +12.42022 Q1 · CFO: +1.32022 Q2 · CFO: +2.32022 Q3 · CFO: +4.72022 Q4 · CFO: +2.62023 Q1 · CFO: +0.52023 Q2 · CFO: -4.02023 Q3 · CFO: +5.62023 Q4 · CFO: +4.82024 Q1 · CFO: +2.92024 Q2 · CFO: +1.02024 Q3 · CFO: +9.22025 Q1 · CFO: +6.8
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-34-17+0+17+342007 Q32009 Q42012 Q22014 Q32016 Q42019 Q12021 Q22023 Q32007 Q3 · Prepared remarks: +1.62007 Q4 · Prepared remarks: +2.42008 Q1 · Prepared remarks: +1.32008 Q2 · Prepared remarks: +0.22008 Q3 · Prepared remarks: -3.92008 Q4 · Prepared remarks: -1.22009 Q1 · Prepared remarks: -1.62009 Q2 · Prepared remarks: +6.92009 Q3 · Prepared remarks: +5.32009 Q4 · Prepared remarks: +10.92010 Q1 · Prepared remarks: +8.12010 Q3 · Prepared remarks: +13.22010 Q4 · Prepared remarks: +10.62011 Q1 · Prepared remarks: +5.52011 Q2 · Prepared remarks: +8.62011 Q3 · Prepared remarks: +7.32011 Q4 · Prepared remarks: +9.22012 Q1 · Prepared remarks: +7.22012 Q2 · Prepared remarks: +15.42012 Q3 · Prepared remarks: +14.92012 Q4 · Prepared remarks: +13.62013 Q1 · Prepared remarks: +12.52013 Q2 · Prepared remarks: +10.02013 Q3 · Prepared remarks: +2.02013 Q4 · Prepared remarks: +3.92014 Q1 · Prepared remarks: +10.02014 Q2 · Prepared remarks: +6.42014 Q3 · Prepared remarks: +7.42014 Q4 · Prepared remarks: +8.92015 Q1 · Prepared remarks: +7.52015 Q2 · Prepared remarks: +9.92015 Q3 · Prepared remarks: +0.02015 Q4 · Prepared remarks: +12.52016 Q1 · Prepared remarks: +2.52016 Q2 · Prepared remarks: +4.22016 Q3 · Prepared remarks: +6.42016 Q4 · Prepared remarks: +9.42017 Q1 · Prepared remarks: +2.82017 Q2 · Prepared remarks: +0.52017 Q3 · Prepared remarks: +6.92017 Q4 · Prepared remarks: +8.92018 Q1 · Prepared remarks: +0.52018 Q2 · Prepared remarks: -1.22018 Q3 · Prepared remarks: +8.82018 Q4 · Prepared remarks: +6.12019 Q1 · Prepared remarks: +1.02019 Q2 · Prepared remarks: -1.62019 Q3 · Prepared remarks: +2.12019 Q4 · Prepared remarks: +15.02020 Q1 · Prepared remarks: +0.02020 Q2 · Prepared remarks: +11.32020 Q3 · Prepared remarks: +10.42020 Q4 · Prepared remarks: +15.92021 Q1 · Prepared remarks: +4.02021 Q2 · Prepared remarks: +5.32021 Q3 · Prepared remarks: +11.12021 Q4 · Prepared remarks: +12.52022 Q1 · Prepared remarks: +8.52022 Q2 · Prepared remarks: +20.02022 Q3 · Prepared remarks: +12.92022 Q4 · Prepared remarks: +11.12023 Q1 · Prepared remarks: +6.52023 Q2 · Prepared remarks: +9.62023 Q3 · Prepared remarks: +13.62023 Q4 · Prepared remarks: +14.32024 Q1 · Prepared remarks: +5.12024 Q2 · Prepared remarks: +7.82024 Q3 · Prepared remarks: +11.92024 Q4 · Prepared remarks: +29.52025 Q1 · Prepared remarks: +5.62007 Q3 · Q&A responses: -0.32007 Q4 · Q&A responses: +2.12008 Q1 · Q&A responses: +2.32008 Q2 · Q&A responses: +3.22008 Q3 · Q&A responses: -2.52008 Q4 · Q&A responses: +0.02009 Q1 · Q&A responses: -2.32009 Q2 · Q&A responses: +3.12009 Q3 · Q&A responses: +2.82009 Q4 · Q&A responses: +9.02010 Q1 · Q&A responses: +1.52010 Q3 · Q&A responses: +11.22010 Q4 · Q&A responses: +8.22011 Q1 · Q&A responses: +3.52011 Q2 · Q&A responses: +5.52011 Q3 · Q&A responses: +2.32011 Q4 · Q&A responses: -4.42012 Q1 · Q&A responses: -5.92012 Q2 · Q&A responses: +4.42012 Q3 · Q&A responses: -1.72012 Q4 · Q&A responses: -3.82013 Q1 · Q&A responses: +8.12013 Q2 · Q&A responses: -3.62013 Q3 · Q&A responses: -0.32013 Q4 · Q&A responses: +4.82014 Q1 · Q&A responses: +0.42014 Q2 · Q&A responses: +3.22014 Q3 · Q&A responses: +1.32014 Q4 · Q&A responses: -5.52015 Q1 · Q&A responses: +0.92015 Q2 · Q&A responses: +6.52015 Q3 · Q&A responses: -4.02015 Q4 · Q&A responses: +3.02016 Q1 · Q&A responses: +2.82016 Q2 · Q&A responses: -1.62016 Q3 · Q&A responses: +7.32016 Q4 · Q&A responses: -9.92017 Q1 · Q&A responses: -4.12017 Q2 · Q&A responses: +2.42017 Q3 · Q&A responses: +4.52017 Q4 · Q&A responses: +12.32018 Q1 · Q&A responses: +3.82018 Q2 · Q&A responses: -9.52018 Q3 · Q&A responses: +2.92018 Q4 · Q&A responses: -0.52019 Q1 · Q&A responses: -4.02019 Q2 · Q&A responses: -0.72019 Q3 · Q&A responses: -1.02019 Q4 · Q&A responses: +4.12020 Q1 · Q&A responses: +0.62020 Q2 · Q&A responses: -0.92020 Q3 · Q&A responses: +5.02020 Q4 · Q&A responses: +8.02021 Q1 · Q&A responses: -1.12021 Q2 · Q&A responses: +2.92021 Q3 · Q&A responses: +6.22021 Q4 · Q&A responses: +7.12022 Q1 · Q&A responses: +6.52022 Q2 · Q&A responses: +0.72022 Q3 · Q&A responses: +6.32022 Q4 · Q&A responses: +7.92023 Q1 · Q&A responses: -1.82023 Q2 · Q&A responses: +1.72023 Q3 · Q&A responses: +3.92023 Q4 · Q&A responses: +4.62024 Q1 · Q&A responses: +4.12024 Q2 · Q&A responses: +0.02024 Q3 · Q&A responses: +3.52024 Q4 · Q&A responses: +9.52025 Q1 · Q&A responses: +8.0
Prepared remarksQ&A responses

Tone vs forward expectations

Management tone next to Wall Street's forward-looking numbers (glopardo): the 12-month forward EPS estimate and the forward P/E per call.

Forward EPS estimate

$3.64$4.40$5.162007 Q32009 Q42012 Q22014 Q32016 Q42019 Q12021 Q22023 Q32014 Q1: $3.752014 Q2: $3.772014 Q3: $3.812014 Q4: $3.852015 Q1: $3.892015 Q2: $3.942015 Q3: $3.972015 Q4: $4.012016 Q1: $4.052016 Q2: $4.092016 Q3: $4.152016 Q4: $4.222017 Q1: $4.302017 Q2: $4.372017 Q3: $4.422017 Q4: $4.432018 Q1: $4.522018 Q2: $4.592018 Q3: $4.662018 Q4: $4.832019 Q1: $4.902019 Q2: $4.962019 Q3: $4.972019 Q4: $4.892020 Q1: $4.922020 Q2: $4.962020 Q3: $4.982020 Q4: $5.062021 Q1: $5.002021 Q2: $5.052021 Q3: $4.882021 Q4: $3.932022 Q1: $4.052022 Q2: $4.122022 Q3: $4.152022 Q4: $4.222023 Q1: $4.252023 Q2: $4.412023 Q3: $4.842023 Q4: $4.892024 Q1: $4.802024 Q2: $4.842024 Q3: $4.88

Forward P/E

12.7816.7420.712007 Q32009 Q42012 Q22014 Q32016 Q42019 Q12021 Q22023 Q32014 Q1: 14.472014 Q2: 14.822014 Q3: 15.022014 Q4: 17.142015 Q1: 16.672015 Q2: 14.562015 Q3: 15.382015 Q4: 15.872016 Q1: 17.902016 Q2: 18.742016 Q3: 17.982016 Q4: 18.002017 Q1: 19.422017 Q2: 20.152017 Q3: 19.932017 Q4: 20.162018 Q1: 16.992018 Q2: 16.182018 Q3: 16.982018 Q4: 18.312019 Q1: 19.462019 Q2: 19.732019 Q3: 19.282019 Q4: 18.112020 Q1: 13.332020 Q2: 15.392020 Q3: 14.532020 Q4: 15.542021 Q1: 15.832021 Q2: 17.032021 Q3: 15.152021 Q4: 17.202022 Q1: 18.262022 Q2: 16.592022 Q3: 18.182022 Q4: 18.832023 Q1: 18.402023 Q2: 18.622023 Q3: 16.002023 Q4: 15.782024 Q1: 14.892024 Q2: 15.442024 Q3: 18.50

Divergence watch ⚑

Quarters where tone and the forward EPS estimate moved opposite ways.

  • 2015 Q1 tone ↓ -3.6 fwd EPS ↑ +0.04 Tone cooled even as the forward EPS estimate rose.
  • 2017 Q1 tone ↓ -4.9 fwd EPS ↑ +0.08 Tone cooled even as the forward EPS estimate rose.
  • 2018 Q1 tone ↓ -7.1 fwd EPS ↑ +0.09 Tone cooled even as the forward EPS estimate rose.
  • 2018 Q2 tone ↓ -6.9 fwd EPS ↑ +0.08 Tone cooled even as the forward EPS estimate rose.
  • 2019 Q1 tone ↓ -8.9 fwd EPS ↑ +0.07 Tone cooled even as the forward EPS estimate rose.
  • 2019 Q4 tone ↑ +5.9 fwd EPS ↓ -0.08 Tone rose while the forward EPS estimate was cut.
  • 2020 Q4 tone ↓ -2.7 fwd EPS ↑ +0.08 Tone cooled even as the forward EPS estimate rose.
  • 2021 Q3 tone ↑ +4.9 fwd EPS ↓ -0.17 Tone rose while the forward EPS estimate was cut.
  • 2021 Q4 tone ↑ +2.2 fwd EPS ↓ -0.95 Tone rose while the forward EPS estimate was cut.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q12025-05-01+3.6——View →
2024 Q42025-02-25+17.5——View →
2024 Q32024-11-06+6.7$4.8818.5View →
2024 Q22024-08-01+1.6$4.8415.4View →
2024 Q12024-05-02+1.0$4.8014.9View →
2023 Q42024-02-27+7.7$4.8915.8View →
2023 Q32023-11-02+4.4$4.8416.0View →
2023 Q22023-08-03+4.3$4.4118.6View →