Pinnacle West Capital Corp First Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Pinnacle West Capital Corp (NYSE:PNW) will unveil its latest earnings on Thursday, May 3, 2012. Pinnacle West Capital, through its subsidiaries, provides retail and wholesale electric services.

Pinnacle West Capital Corp Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net loss of 7 cents per share, up from net income of 2 cents in the year-earlier quarter. During the past three months, the average estimate has moved down from a loss of 5 cents. Between one and three months ago, the average estimate moved down. It has risen from a loss of 10 cents during the last month. Analysts are projecting profit to rise by 12% versus last year to $3.35.

Past Earnings Performance: The company is looking to beat analyst estimates for the third quarter in a row. Last quarter, it beat estimates with profit of 11 cents per share against the mean estimate of 5 cents. In the prior quarter, the company reported net income of $2.24.

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Wall St. Revenue Expectations: Analysts predict a rise of 1% in revenue from the year-earlier quarter to $666.3 million.

Analyst Ratings: Analysts seem relatively indifferent about Pinnacle West Capital with 11 of 12 analysts surveyed maintaining a hold rating.

A Look Back: In the fourth quarter of the last fiscal year, profit rose 70.9% to $12.6 million (11 cents a share) from $7.3 million (5 cents a share) the year earlier, exceeding analyst expectations. Revenue fell 2.3% to $667.9 million from $683.6 million.

Key Stats:

On the top line, the company is hoping to use this earnings announcement to snap a string of three-straight quarters of revenue declines. Revenue fell 2.5% in the second quarter of the last fiscal year and 1.3% in third quarter of the last fiscal year before falling again in the fourth quarter of the last fiscal year of the last fiscal year.

Stock Price Performance: Between March 1, 2012 and April 27, 2012, the stock price had risen $1.84 (4%), from $46.37 to $48.21. The stock price saw one of its best stretches over the last year between March 19, 2012 and March 27, 2012, when shares rose for seven straight days, increasing 2.3% (+$1.05) over that span. It saw one of its worst periods between July 21, 2011 and August 4, 2011 when shares fell for 11 straight days, dropping 9.8% (-$4.16) over that span.

(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)

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