PNW · 8-K · 20260804PR000040
Income Tax Rate Changes
PINNACLE WEST CAPITAL CORP · 2026-08-04 · Importance 19 · Surprise 22
Second-quarter 2026 income tax expense decreased 10.6% to $31.3 million from $35.0 million in the prior-year quarter. The effective income tax rate increased to approximately 14.8% from 15.1%? No, based on reported figures, the rate declined to approximately 14.8% from 15.1%? Actually 31.302/212.069 is 14.8%, versus 35.018/231.888 is 15.1%. The $3.7 million tax reduction partially offset higher interest charges, depreciation and amortization, and lower transmission service revenues. Six-month income tax expense increased $3.6 million to $32.5 million from $28.8 million, reflecting different quarterly timing and pretax income effects.