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Pinnacle West Reports 2018 Second-Quarter Results August 3, 2018
Quarterly results in line with Company expectations Operations and maintenance expenses increased versus a year ago due to higher planned fossil plant outages and other operating costs Company maintains focus on deploying innovative technologies that benefit customers Pinnacle West Capital Corp. (NYSE: PNW) today reported consolidated net income attributable to common shareholders of $166.7 million, or $1.48 per diluted share of common stock, for the quarter ended June 30, 2018. This result compares with earnings of $167.4 million, or $1.49 per share, in the same 2017 period. “Second-quarter results were in line with our expectations, and we remain well positioned to meet our financial commitments for the full year,” said Pinnacle West Chairman, President and Chief Executive Officer Don Brandt. “We will continue investing in and deploying advanced grid technologies, like battery storage and microgrids, to provide our customers with more clean energy options while maintaining...
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