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Pinnacle West Reports 2021 Second-Quarter Results - Press Release

Pinnacle West Reports 2021 Second-Quarter Results - Press Release
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Pinnacle West Reports 2021 First-Quarter Earnings

Press release content from Business Wire. The AP news staff was not involved in its creation.
Pinnacle West Reports 2021 First-Quarter Earnings
May 5, 2021 GMT
PHOENIX (BUSINESS WIRE) May 5, 2021
Pinnacle West Capital Corp. (NYSE: PNW) today reported consolidated net income attributable to common shareholders of $35.6 million, or $0.32 per diluted share of common stock, for the quarter ended March 31, 2021. This result compares with $30.0 million, or $0.27 per diluted share, for the same period in 2020.
First-quarter 2021 results were positively impacted by weather, higher transmission revenues, and higher pension and other postretirement non-service credits. These factors offset a moderate increase in operations and maintenance expenses, due largely to higher planned plant outages to perform seasonal maintenance ahead of summer demand. ....

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Pinnacle West Reports 2020 Full-Year and Fourth-Quarter Results

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Pinnacle West Capital Corp. (NYSE: PNW) today reported consolidated net income attributable to common shareholders of $550.6 million, or $4.87 per diluted share, for full-year 2020. This result compares with net income of $538.3 million, or $4.77 per diluted share, in 2019. Weather impacts alone accounted for a year-over-year increase in after-tax revenues of $94 million, or $0.83 cents per share.
In a year of transition and renewed focus on excellence in customer care, the company recently launched a new cultural framework called The APS Promise. APS CEO Jeff Guldner and the leadership team are championing this cultural transformation to keep employees’ talent focused on customers and ensure the company remains an employer of choice. The Promise fosters empowered decision-making, innovation and collaboration as behavioral norms across all levels of the organization. (Graphic: Business Wire) ....

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