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Pinnacle West Reports 2018 Full-Year and Fourth-Quarter Results February 22, 2019
Full-year 2018 results benefit from strong operational performance and prior year’s collaborative rate agreement An expanding Arizona economy and customer growth drive increase in retail revenue Pinnacle West Capital Corporation (NYSE: PNW) today reported consolidated net income attributable to common shareholders of $511.0 million, or $4.54 per diluted share, for full-year 2018. This result compares with net income of $488.5 million, or $4.35 per share, in 2017. “Strong operational performance and a robust Arizona economy helped us achieve solid 2018 results at the top of our earnings guidance,” said Pinnacle West Chairman, President and Chief Executive Officer Don Brandt. “And, by operating efficiently and safely, our employees provided our 1.2 million customers with clean, reliable and affordable electricity.” “Whether it’s operating Palo Verde Generating Station , the nation’s largest producer of clean-energy; quickly restoring electric service after a violent monsoon storm; or...
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