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Pinnacle West Capital Corporation reported Q3 2025 earnings of $3.39 per share, driven by increased transmission revenue and solid sales growth. The company plans a new generation site near Gila Bend, potentially adding 2,000 megawatts of natural gas capacity.

Despite lower weather-related sales and higher expenses, total sales growth was 5.4% for the quarter, with commercial and industrial sales up 6.6% and residential sales up 4.3%. Pinnacle West has raised its 2025 earnings forecast to between $4.90 and $5.10 per share, previously $4.40 to $4.60, citing strong sales and favorable weather conditions.