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Pinnacle West Capital (NYSE:PNW) reported second-quarter 2026 earnings of $1.43 per share, down $0.15 from the same period a year earlier, as higher interest expense, depreciation and amortization, and lower transmission revenue more than offset strong weather-driven demand and customer growth
Chief Financial Officer Andrew Cooper said the company expects to finish 2026 at the top end of its previously issued earnings guidance range of $4.55 to $4.75 per share. The utility reiterated all other aspects of its outlook. – Ready for the Utilities Rebound? Here Are the Best Picks “We had a solid second quarter supported by disciplined execution across the business,” Chairman, President and CEO Ted Geisler said during the company’s earnings call.
Sales Growth Remains Strong Weather-normalized sales increased 9.6% year over year in the second quarter, while customer growth reached 2.1%. Cooper said hotter conditions, including an early start to triple-digit temperatures in the Phoenix area, supported cooling demand during the period. – NRG Fastest Mover in S&P As Activist Investor Pushes For Change Residential sales rose 5.6%, while commercial and industrial sales increased 12.7%, driven by expansion among data center, semiconductor and other advanced-manufacturing customers. Cooper said the quarter’s growth was diversified across residential and commercial customer categories.