Pinnacle West Capital (PNW) Q2 FY2026 earnings: revenue $1.5 billion, up 7.1% on the year
Pinnacle West Capital Corp. (PNW) reported revenue of $1.5 billion for Q2 FY2026, the quarter ended 30 June 2026, up 7.1% on the same quarter a year earlier. Net income was $179 million, down 7.3% on the year, and diluted earnings per share $1.43. The figures are the company's own, from the 10-Q it filed with the SEC on 4 August 2026.
Revenue
$1.5 billion
+7.1% on the year · +26.6% on the quarter
Q3 FY2024Q2 FY2026
Operating margin
21.0%
22.6% a year earlier
Q3 FY2024Q2 FY2026
Net income
$179 million
-7.3% on the year · +442.4% on the quarter
Q3 FY2024Q2 FY2026
Diluted EPS
$1.43
-9.5% on the year · +429.6% on the quarter
Q3 FY2024Q2 FY2026
this quarterthe same quarter a year earlierHover a bar for its figure.
What management said
Guidance figures: 2 new, 1 kept.
Net income and EPS declined: Net income attributable to common shareholders was $178.6 million, or $1.43 diluted EPS, against $192.6 million, or $1.58, a year earlier. The company put the decrease at about $14 million.
Interest, depreciation and transmission weighed: Management named higher interest charges, higher depreciation and amortization, and lower transmission service revenues as the primary negative factors.
Early heat lifted cooling demand: Residential cooling degree days rose 7% against the year-earlier quarter, after temperatures reached 105° F in March and air conditioners ran earlier than usual.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
Q2 FY2026
Q1 FY2026
Q2 FY2025
On the quarter
On the year
Last 8 quarters
Operating cash flow
394
235
261
+67.4%
+50.7%
Capital expenditure
729
628
710
+16.0%
+2.7%
Free cash flow
-335
-393
-448
Free cash flow margin
-23.0%
-34.2%
-33.0%
Cash from investing
-649
-552
-667
Cash from financing
257
316
415
-18.5%
-37.9%
Depreciation and amortisation
257
260
242
-0.9%
+6.6%
Share-based compensation
4.6
8.3
5.2
-44.2%
-11.4%
Dividends paid
110
108
105
+1.7%
+4.8%
Dividend per share
$1.82
n/a
$1.79
+1.7%
Diluted shares, weighted
124m
124m
122m
+0.6%
+2.2%
Shares outstanding at period end
121m
121m
119m
+0.0%
+1.5%
Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.
Balance sheet
$ million
Q2 FY2026
Q1 FY2026
Q2 FY2025
On the quarter
On the year
Last 8 quarters
Shareholders' equity
7,035
7,068
6,727
-0.5%
+4.6%
Non-controlling interest
40.3
42.8
101
-5.8%
-60.1%
Debt
11,369
10,996
10,262
+3.4%
+10.8%
Operating lease liabilities
4,943
4,011
3,551
+23.2%
+39.2%
Other liabilities
9,190
8,573
8,594
+7.2%
+6.9%
Total liabilities and equity
32,577
30,691
29,235
+6.1%
+11.4%
Fixed assets
18,611
18,470
17,204
+0.8%
+8.2%
Intangible assets
536
540
569
-0.8%
-5.8%
Cash and equivalents
9.1
6.4
18.8
+42.4%
-51.6%
Other assets
13,421
11,674
11,443
+15.0%
+17.3%
Total assets
32,577
30,691
29,235
+6.1%
+11.4%
Questions
What was Pinnacle West Capital's revenue in Q2 FY2026?
Pinnacle West Capital (PNW) reported revenue of $1.5 billion for Q2 FY2026, the quarter ended 30 June 2026, up 7.1% on the same quarter a year earlier.
How much did Pinnacle West Capital earn in Q2 FY2026?
Net income for Q2 FY2026 was $179 million, down 7.3% on the year, and diluted earnings per share $1.43.
When did Pinnacle West Capital report Q2 FY2026 results?
Pinnacle West Capital filed its 10-Q for the quarter ended 30 June 2026 with the SEC on 4 August 2026.
Each quarter as filed, linked to its filing. Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.
10-Q for the period ended 30 June 2026, filed 4 August 2026: the filing.