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Pinnacle West Reports 2021 Second-Quarter Results August 5, 2021
Electricity sales increase as businesses bounce back from COVID-related impacts of a year ago Strong customer growth and record-setting June temperatures also help drive improved results Award-winning energy efficiency programs, bill assistance, heat relief provide support to customers Pinnacle West Capital Corp. (NYSE: PNW) today reported consolidated net income attributable to common shareholders of $215.7 million, or $1.91 per diluted share of common stock, for the quarter ended June 30, 2021. This result compares with earnings of $193.6 million, or $1.71 per share, in the same 2020 period. This press release features multimedia. View the full release here: Weather Impacts On Energy Use (Graphic: Business Wire) Increased retail sales and strong customer growth of 2.3% were the primary drivers in the quarter-over-quarter improvement, contributing to a $70.7 million, or 7.6%, increase in operating revenues. Record-setting heat...
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