Pinnacle West Capital Corp Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Pinnacle West Capital Corp (NYSE:PNW) will unveil its latest earnings on Tuesday, November 1, 2011. 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 income of $2.10 per share, a rise of 1% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from $2.17. Between one and three months ago, the average estimate moved down. It has risen from $2.09 during the last month. For the year, analysts are projecting profit of $2.83 per share, a decline of 10.2% from last year.

Past Earnings Performance: Last quarter, the company fell short of estimates by 4 cents, coming in at net income of 78 cents per share against a mean estimate of profit of 88 cents. The company topped expectations in the first quarter.

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Wall St. Revenue Expectations: On average, analysts predict $1.13 billion in revenue this quarter, a decline of 0.9% from the year ago quarter. Analysts are forecasting total revenue of $3.25 billion for the year, a decline of 0.3% from last year’s revenue of $3.26 billion.

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

A Look Back: In the second quarter, profit fell 24.5% to $86.7 million (79 cents a share) from $114.8 million ($1.07 a share) the year earlier, missing analyst expectations. Revenue fell 2.5% to $799.8 million from $820.6 million.

Key Stats:

Revenue fell in the second quarter after seeing a rise the quarter before. In the first quarter, revenue rose 4.1%.

Competitors to Watch: UniSource Energy Corp. (NYSE:UNS), IDACORP, Inc. (NYSE:IDA), PNM Resources, Inc. (NYSE:PNM), NV Energy, Inc. (NYSE:NVE), Edison International (NYSE:EIX), The Southern Company (NYSE:SO), Cleco Corporation (NYSE:CNL), Hawaiian Electric Industries, Inc. (NYSE:HE), Portland General Electric Co. (NYSE:POR), and Northeast Utilities System (NYSE:NU).

Stock Price Performance: During August 2, 2011 to October 26, 2011, the stock price had risen $4.18 (10.1%) from $41.41 to $45.59. It saw one of its worst periods between July 21, 2011 and August 4, 2011 when shares fell for 11-straight days, falling 9.8% (-$4.30) over that span. The stock price saw one of its best stretches over the last year between April 21, 2011 and May 3, 2011 when shares rose for eight-straight days, rising 4.7% (+$1.94) over that span. Shares are up $5.64 (+14.1%) year to date.

(Source: Xignite Financials)

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