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Intense summer heat main driver for US utility Pinnacle West’s Q3 earnings boost

November 3, 2023 Comments Off

Extreme summer weather helped to boost Pinnacle West Capital’s third-quarter earnings by 22% year on year, executives said during the US-based power utility’s Nov. 2 earnings call. The company’s Q3 earnings were positively impacted by weather, Senior Vice President and CFO Andrew Cooper said. Pinnacle West Capital reported earnings of $3.50/diluted share for Q3 2023, an increase of 22% compared…