Pinnacle West reports Q2 EPS $1.76, consensus $1.25

Reports Q2 revenue $1.31B, consensus $1.21B. “Our second quarter was marked by warmer-than-normal temperatures, including June being the hottest on record in the Phoenix metropolitan area,” said Pinnacle West Chairman, President and CEO Jeff Guldner. “Since weather directly affects how much energy our customers use to cool their homes and businesses, retail sales and financial results were meaningfully higher than a year ago.” By comparison, Guldner also noted that last year’s second-quarter results were negatively impacted by cooler-than-usual temperatures, including the mildest June on record since 2009.