Pinnacle West Capital ( (PNW) ) has released its Q2 earnings. Here is a breakdown of the information Pinnacle West Capital presented to its investors.
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Pinnacle West Capital Corp., an energy holding company based in Phoenix, operates primarily through its subsidiary, Arizona Public Service, providing retail electricity service to approximately 1.4 million homes and businesses in Arizona. The company is known for its diverse energy generation portfolio, including nuclear, coal, gas, and renewables.
In its latest earnings report, Pinnacle West Capital announced a decrease in net income for the second quarter of 2025, attributing the decline primarily to milder weather conditions compared to the previous year. Despite this, the company highlighted strong operational performance and reliability, supported by a 2.4% increase in customer growth and a 5.2% rise in sales.
Key financial metrics revealed a consolidated net income of $192.6 million, or $1.58 per diluted share, down from $203.8 million, or $1.76 per diluted share, in the same period last year. The decrease was influenced by higher operational and maintenance expenses, increased depreciation, and higher income taxes, partially offset by increased transmission revenues and customer growth.
Looking ahead, Pinnacle West remains committed to maintaining reliability and affordability as Arizona’s energy demands grow. The company is updating its clean energy goals to a carbon-neutral approach by 2050, emphasizing a balanced energy mix to ensure reliable service. Management projects consolidated earnings for 2025 to be within a range of $4.40 to $4.60 per diluted share on a weather-normalized basis.