Pinnacle West Capital Corporati

Why Is Pinnacle West (PNW) Down 4.1% Since Last Earnings Report?

Pinnacle West Capital Corporation reported Q2 2026 earnings of $1.43 per share, missing consensus estimates of $1.49, with earnings declining 9.5% year-over-year. While revenues surpassed expectations at $1.46 billion (up 7.1% YoY), operating income declined due to a 17.1% surge in fuel and purchased power costs. The company reaffirmed its 2026 EPS guidance of $4.55-$4.75 and continues significant capital investments. The stock has underperformed the S&P 500 by 4.1% since the earnings report.