Pinnacle West reports Q3 EPS $3.37, consensus $3.49

Reports Q3 revenue $1.77B, consensus $1.87B. “For a second consecutive quarter, we experienced a historic run of record heat that led to summer 2024 being the hottest on record,” said Pinnacle West (PNW) Chairman, president and CEO Jeff Guldner. “Consequently, our customers used more energy to cool their homes and businesses than under normal weather conditions. And, while this quarter’s net income was down slightly from the same period a year ago, the collective increase in energy consumption and the growing number of customers we serve led to strong financial results.”