Pinnacle West Capital Earnings: Everything You Must Know Now

Pinnacle West Capital Corp. (NYSE:PNW) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.

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Pinnacle West Capital Corp. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased to $0.22 in the quarter versus EPS of $-0.07 in the year-earlier quarter.

Revenue: Rose 10.65% to $686.7 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Pinnacle West Capital Corp. reported adjusted EPS income of $0.22 per share. By that measure, the company beat the mean analyst estimate of $0.09. It beat the average revenue estimate of $638.93 million.

Quoting Management: “It was a strong first quarter, building on our momentum from 2012,” said Pinnacle West Chairman, President and Chief Executive Officer Don Brandt. “Economic improvement in our market area, combined with superior operational performance by our employees, continued execution of our cost management program, and colder-than-normal weather allowed us to produce solid financial and operating results.
As growth in our state begins to increase, we must maintain top-tier customer service and reliability, while providing solid financial returns for shareholders.”

Key Stats (on next page)…

Revenue decreased 0.93% from $693.12 million in the previous quarter. EPS decreased 8.33% from $0.24 in the previous quarter.

Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $1.06 to a profit $1.1. For the current year, the average estimate has moved up from a profit of $3.55 to a profit of $3.56 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)