Reports Q2 revenue $1.12, consensus $1.09B. “We saw cooler-than-usual temperatures in the second quarter compared to a warmer-than average second quarter in 2022. This June was especially mild. Given how big an impact air conditioning has on energy use in the low desert, it’s no surprise that our financial results are lower this quarter,” said Pinnacle West Chairman, President and CEO Jeff Guldner, citing National Weather Service Phoenix data showing that the average June 2023 temperature was almost five degrees cooler than June 2022.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on PNW: