Pinnacle West gains on higher third-quarter profit

Shares of U.S. utility Pinnacle West PNW.N up 2% at $89.43

PNW posts Q3 net income attributable to common shareholders of $413.2 million, compared with $395 million a year ago

Posts operating revenue of $1.82 billion for the reported quarter, up from last year's $1.77 billion

PNW intends to invest more than $2.5 billion annually through 2028 for infrastructure additions and upgrades

Forecasts 2025 consolidated earnings between $4.90 and $5.10 per share, higher than its prior outlook of $4.40 to $4.60 apiece

Including session's move, stock up 5.6% YTD