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Pinnacle West Reports 2020 Second-Quarter Results August 6, 2020
Return of triple-digit temperatures, record heat drives higher quarter-over-quarter earnings COVID-19 impact on sales partially offset by Lean efforts and continued cost management Customer Support Fund expanded to provide more relief to customers impacted by pandemic Pinnacle West Capital Corp. (NYSE: PNW) today reported consolidated net income attributable to common shareholders of $193.6 million, or $1.71 per diluted share of common stock, for the quarter ended June 30, 2020. This result compares with earnings of $144.1 million, or $1.28 per share, in the same 2019 period. This press release features multimedia. View the full release here: Hotter-than-normal weather was the primary driver in Pinnacle West's second-quarter earnings improvement over the year-ago period. (Graphic: Business Wire) Hotter-than-normal weather was the primary driver in the quarter-over-quarter improvement, increasing revenues, net of fuel and...
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