Pinnacle West Capital Corporation · NYSE:PNW
Pinnacle West Capital — Non-Deal Roadshow (April 2020)
9 slides from Pinnacle West Capital's roadshow presentation, Apr 7, 2020
Slide 1: Powering Growth, Delivering Value: Investor Meetings April 2020
POWERING GROWTH DELIVERING VALUE Investor Meetings April 2020
Slide 2: Forward Looking Statements
FORWARD LOOKING STATEMENTS This presentation contains forward-looking statements based on current expectations, including statements regarding our earnings guidance and financial outlook and goals. These forward-looking statements are often identified by words such as “estimate,” “predict,” “may,” “
Slide 3: COVID-19 Events and Energy Update
COVID-19 EVENTS AND ENERGY UPDATE Our top priority is to provide reliable service to our customers while maintaining the health and safety of our employees Our Company has made preparations and is executing our plan to effectively manage the current environment and mitigate future impacts. Providing
Slide 4: Pinnacle West Profile
PINNACLE WEST PROFILE We are a financially healthy company well positioned to succeed in achieving our long-term goals Strong balance sheet Sufficient liquidity De-risked pension plan through liability driven investment strategy Sales weighted heavily in the Q3 hot summer months Large resi
Slide 5: Energy Usage and Sales
ENERGY USAGE AND SALES Second half of March shows decrease in C&I and increase in residential. Too soon to reach conclusions on usage trends 3 month 10% Customer Estimated EPS impact 1% decline in C&I and change in annual sales 6% increase in Residential $0.09 residential sales Commercial $0.07 sens
Slide 6: Preliminary Weather-Normalized Energy Trend
PRELIMINARY WEATHER-NORMALIZED ENERGY TREND Friday, March 13: date when the trend in normalized load begins to change Powering Growth, Delivering Value | 6
Slide 7: Strong Balance Sheet, Credit Ratings and Healthy Liquidity
STRONG BALANCE SHEET, CREDIT RATINGS AND HEALTHY LIQUIDITY Near-Term Long-Term Debt Maturities Liquidity and Financing Activity $ in millions • $1.2 billion revolver capacity $1,000 ₋ Have drawn down $530 million • Option to increase revolver capacity by $500 million $800 All remaining long- term de
Slide 8: Pension Plan
PENSION PLAN Well funded pension plan with investment strategy that mitigates funding status volatility 1 Pension Funded Status • Liability driven investment 95% 97% strategy helps reduce funded status volatility 90% • Approximately 65% of the pension portfolio is in fixed income assets • Hedge 100%
Slide 9: Operations and Supply Chain
OPERATIONS AND SUPPLY CHAIN Our operations team has health and safety protocols consistent with our pandemic crisis management plan in place Crisis Preparedness • Executing effectively under our crisis management and business continuity plans • Employee safety top priority with remote working polici
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