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Pinnacle West Reports 2018 First-Quarter Earnings May 2, 2018
Customer growth a solid 1.7 percent as Arizona’s economy and population continue to expand Operations and maintenance expenses higher versus a year ago primarily due to higher planned fossil plant outages Pinnacle West Capital Corp. (NYSE: PNW) today reported consolidated net income attributable to common shareholders of $3.2 million , or $0.03 per diluted share of common stock, for the quarter ended March 31, 2018 . This result compares with $23.3 million , or $0.21 per diluted share, for the same period in 2017. “We are well-positioned for a solid year as our service territory continues to experience a steady improvement in economic conditions and solid customer growth,” said Pinnacle West Chairman, President and Chief Executive Officer Don Brandt, citing 1.7 percent customer growth and metropolitan Phoenix being on pace for the most home sales in any first-quarter period since the great recession officially started in December 2007. “Clearly, Arizona and the Phoenix metropolitan...
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