Pinnacle West Q2 EPS $1.58 vs $1.76 YoY; reaffirms FY2025 guidance $4.40-$4.60

ARIZONA PUBLIC SERVICE CO

Net income $192.6M ($1.58 diluted EPS) vs $203.8M ($1.76) in Q2 2024, down ~10% due to milder weather.
Cooling degree-days down 15.4% YoY; customer growth 2.4%, sales growth 5.2%.
Record peak demand 8,527 MW on July 9; Palo Verde celebrates 40 years of operations.
Clean energy goal updated from zero-carbon to carbon-neutral by 2050; interim targets removed.
FY2025 EPS guidance reaffirmed at $4.40-$4.60 weather-normalized; management cites strong reliability.

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