PNW · 10-Q · 2026Q2 · Full report

Net Income and Profitability

PINNACLE WEST CAPITAL CORP · 2026-08-04 · Importance 36 · Surprise 40 · From source text

Six-month net income attributable to common shareholders increased $23 million to $211 million from $188 million, a 12% year-over-year increase. The improvement reflected weather, higher usage and customer growth, lower operations and maintenance expenses, and higher transmission service revenues. Quarterly net income declined $14 million to $179 million from $193 million because higher interest charges and depreciation and amortization, plus lower transmission service revenues, outweighed favorable weather, usage, customer growth, lower operations and maintenance expenses, and lower income taxes.

Key facts

• Consolidated net income attributable to common shareholders for the six months ended June 30, 2026 was $211 million, compared with $188 million for the prior-year period, an increase of approximately $23 million. source
• Consolidated net income attributable to common shareholders for the three months ended June 30, 2026 was $179 million, compared with $193 million for the prior-year period. source
• The decrease of approximately $14 million for the three months ended June 30, 2026 was primarily due to higher interest charges, higher depreciation and amortization expenses mostly due to increased plant additions, partially offset by operations ceasing at Cholla, and lower transmission service revenues. source
• Income taxes were $3 million higher for the six months ended June 30, 2026 compared with the prior-year period, primarily due to higher pre-tax income, partially offset by higher tax credits. source

Impact estimates