Pinnacle West Capital Corporation, through its subsidiary, Arizona Public Service Company, provides retail and wholesale electric services primarily in the state of Arizona. The company engages in the generation, transmission, and distribution of electricity using coal, nuclear, gas, oil, and solar generating facilities. Its transmission facilities include approximately 5,814 pole miles of overhead lines and approximately 74 miles of underground lines; and distribution facilities comprise approximately 11,258 miles of overhead lines and approximately 22,821 miles of underground primary cable, as well as owns and maintains 475 transmission and distribution substations. The company also owns or leases approximately 6,323 megawatts of regulated generation capacity. It serves approximately 1.3 million customers. Pinnacle West Capital Corporation was incorporated in 1985 and is headquartered in Phoenix, Arizona.

Pinnacle West Capital Corporation

OPERATING REVENUES

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Other Income

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Interest Charges

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Income Before Income Taxes

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Income Taxes

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Net Income

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Net Income Attributable to Common Shareholders

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Weighted-Average Common Shares Outstanding - Basic

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Weighted-Average Common Shares Outstanding - Diluted

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Dividends Declared per Share

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Total Revenues

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Gross Profit

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Depreciation & Amortization Expenses

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Operating Profit

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Interest and Investment Income

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Non-Operating Income

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Income Before Provision for Income Taxes

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Provision for Income Taxes

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Consolidated Net Income

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Net Income Attributable to Minority Interests and Other

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Revenue

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Net Interest Income

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Income Statement	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Total Revenues	1,820.7	1,358.8	1,032.3	1,095.4	1,768.8	1,309
Total Revenues %Chg	2.9%	3.8%	8.5%	10.5%	8%	16.7%
OPERATING REVENUES
Fuel and Purchased Power Expense	656	477	380.1	396.1	631.4	437.2
Operations and Maintenance Expenses	299.6	286.6	300.1	327.3	308.1	272.3
Gross Profit	865.2	595.1	352.1	372	829.4	599.6
Gross Profit Margin	47.5%	43.8%	34.1%	34%	46.9%	45.8%
Depreciation & Amortization Expenses	224.6	228.9	234.9	230.6	229.5	225
Depreciation and Amortization
Taxes Other than Income Tax	58.4	57.7	59.4	56.8	52.8	58.7
Taxes Other Than Income Taxes
Other Operating Expenses	0.3	1	0.6	0.1	0.1	2.1
Other Expense
Operating Profit	581.8	307.6	57.2	84.5	547	313.7
Operating Income
Operating Margin	32%	22.6%	5.5%	7.7%	30.9%	24%
Interest and Investment Income	17.7	14.8	13.2	9.8	9.6	8.9
Allowance for Equity Funds Used During Construction
Interest Expense	-111.2	-102	-94.8	-95	-98	-97.9
Interest Charges
Allowance for Borrowed Funds Used During Construction
Non-Operating Income	24.8	26.3	31.1	7.9	24.5	24.6
Pension and Other Postretirement Non-Service Credits, Net
Other Income
Other Income
Allowance for Equity Funds Used During Construction
Total Non-Operating Income	-68.8	-60.9	-50.5	-77.2	-63.9	-64.3
Income Before Provision for Income Taxes	495.4	231.9	-6.5	-2.5	473.5	240.5
Income Before Income Taxes
Provision for Income Taxes	77.9	35	-6.2	-0	74.2	32.4
Income Taxes
Consolidated Net Income	417.5	196.9	-0.3	-2.5	399.3	208.1
Net Income
Net Income Attributable to Minority Interests and Other	4.3	4.3	4.3	4.3	4.3	4.3
Less: Net Income Attributable to Noncontrolling Interests
Net Income Attributable to Common Shareholders	413.2	192.6	-4.6	-6.8	395	203.8
Net Income Attributable to Common Shareholders
Basic EPS	3.5	1.6	-0	-0.1	3.5	1.8
Diluted EPS	3.4	1.6	-0	-0.1	3.4	1.8
Basic Weighted Average Shares Outstanding	119.6	119.5	119.6	114.3	113.7	113.7
Total Shares Outstanding	119.7	119.4	119.4	119.1	113.6	113.6
Diluted Weighted Average Shares Outstanding	122	121.9	121.8	114.3	117.1	115.8
EBITDA	821.3	549.1	307.9	329.1	793	552.9
Effective Tax Rate	15.7%	15.1%	94.8%	0.4%	15.7%	13.5%