WASHINGTON (dpa-AFX) - Energy holding company Pinnacle West Capital Corp. (PNW) reported Tuesday lower profit in its second quarter, despite higher operating revenues.
Looking ahead for fiscal 2026, the company continues to estimate consolidated earnings to be within a range of $4.55 to $4.75 per share on a weather-normalized basis.
In the second quarter, consolidated net income attributable to common shareholders was $178.57 million or $1.43 per share, lower than prior year's $192.56 million or $1.58 per share.
Operating income dropped to $305.67 million from last year's $307.55 million, hurt by higher expenses.
Operating revenues, however, grew to $1.46 billion from $1.36 billion in the prior year.
In the pre-market activity, the shares were trading at $100.59, down 0.26 percent.
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