Quarterly ResultAug 4, 2026, 08:23 AM
Pinnacle West Q2 Net Income $178.6M, EPS $1.43
AI Summary
Pinnacle West Capital Corp. reported lower financial results for the second quarter ended June 30, 2026, with net income of $178.6 million and diluted EPS of $1.43, down from the prior year. The company stated these results align with expectations, driven by higher interest charges, depreciation, and lower transmission revenues, partially offset by favorable weather, customer growth, and reduced operations and maintenance expenses. Pinnacle West reaffirmed its 2026 EPS guidance of $4.55 to $4.75 per diluted share, citing strong customer growth and increased energy demand.
Key Highlights
- Q2 2026 net income attributable to common shareholders was $178.6 million, down from $192.6 million in Q2 2025.
- Q2 2026 diluted EPS was $1.43, compared to $1.58 in Q2 2025.
- Reaffirmed 2026 consolidated EPS guidance range of $4.55 to $4.75 per diluted share.
- Achieved 2.1% residential customer growth and 9.6% total sales increase in Q2 2026.
- Weather-normalized retail electricity sales growth is projected at 4.0%-6.0% for 2026.
- APS total capital expenditures for 2025-2028 are estimated at $10.35 billion.
- Plans to convert two retired coal-fired units at Cholla Power Plant to natural gas for up to $440 million, adding 380 MW by 2029.
Price Impact
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