November 3, 2025 — Leads & Copy — Pinnacle West Capital Corp. (NYSE: PNW) reported a net income attributable to common shareholders of $413.2 million, or $3.39 per diluted share, for the third quarter of 2025, compared to $395.0 million, or $3.37 per share, for the same period last year. However, the company’s earnings for the first three quarters of 2025 were 2.4% lower than in the first nine months of 2024.
The increase in the third-quarter results reflects increased customer usage and growth, higher transmission service revenues, lower operations and maintenance expenses, and lower depreciation expenses. These factors were partially offset by unfavorable weather effects, higher interest charges, and higher income taxes.
Arizona Public Service (APS) customers set an all-time record peak demand of 8,631 megawatts (MW) on August 7, marking the third consecutive year of record-breaking summer demand. APS intends to invest more than $2.5 billion annually through 2028 for infrastructure additions and upgrades.
The company is adjusting its 2025 consolidated earnings guidance upward to a range of $4.90 to $5.10 per diluted share and estimates its 2026 consolidated earnings will be within a range of $4.55 to $4.75 per diluted share on a weather-normalized basis.
Pinnacle West invites interested parties to listen to the live webcast of management’s conference call to discuss the Company’s financial results and recent developments, and to provide an update on the company’s long-term financial outlook, at 11 a.m. ET (9 a.m. Arizona time) today, Nov. 3. The webcast can be accessed at pinnaclewest.com/presentations and will be available for replay on the website for 30 days. To access the live conference call by telephone, dial (888) 506-0062 or (973) 528-0011 for international callers and enter participant access code 502381. A replay of the call also will be available at pinnaclewest.com/presentations or by telephone until 11:59 p.m. ET, Monday, Nov. 10, 2025, by calling (877) 481-4010 in the U.S. and Canada or (919) 882-2331 internationally and entering replay passcode 53038.
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Source: Pinnacle West Capital Corp.
