Business Context and Reporting Period
This Form 8-K is a combined current report filed by Pinnacle West Capital Corporation and its subsidiary, Arizona Public Service Company (APS). The report covers the fiscal quarter ended March 31, 2010, with the filing date and date of the earliest event reported as March 31, 2010. The report was signed on May 6, 2010, coinciding with the issuance of a press release regarding financial results and earnings outlook.
Key Financial Metrics
The filing text serves as a notification of results and does not contain specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. These metrics are referenced as being contained in attached exhibits:
- Exhibit 99.1: Earnings News Release issued on May 6, 2010.
- Exhibit 99.2: Quarterly consolidated statistical summary for the three-month periods ended March 31, 2010, and 2009.
- Exhibit 99.3: Slide presentation accompanying the May 6, 2010, conference call.
Note: The filing text does not provide a clear value for any specific financial metric.
Material Changes
The filing references a comparison between the three-month periods ended March 31, 2010, and 2009 within Exhibit 99.2. However, the specific material changes, variances, or year-over-year performance details are not disclosed in the body of this Form 8-K.
Guidance, Outlook, and Risks
Management provided an earnings outlook for the years 2010 and 2011 in the press release attached as Exhibit 99.1. The filing also notes that a quarterly consolidated statistical summary and conference call slides were posted to the company website (www.pinnaclewest.com). No specific risks, contingencies, or unusual items are detailed in the text of this report.
Investor Verification Checklist
- Review Exhibit 99.1 for specific Q1 2010 earnings figures and the 2010-2011 earnings outlook.
- Analyze Exhibit 99.2 for the consolidated statistical summary comparing Q1 2010 to Q1 2009.
- Examine Exhibit 99.3 for management commentary and operational details from the May 6, 2010, conference call.
- Verify the company website for the glossary of terms and concurrent postings referenced in Item 7.01.