Pinnacle West Capital Corp reports results for the quarter ended in March - Earnings Summary

Pinnacle West Capital

02/05/2024 15:16

* Pinnacle West Capital Corp  PNW.N  reported quarterly
adjusted
earnings of 15 cents​​ per share for the quarter ended in March,
higher than the same quarter last year, when the company
reported EPS of -3 cents.  The mean expectation of ten analysts
for the quarter was for a loss of one cent per share. Wall
Street expected results to range from -10 cents to 7 cents per
share.
    * Revenue rose 0.7% to $951.71 million from a year ago;
analysts
expected $981.82 million. 
    * Pinnacle West Capital Corp's reported EPS for the quarter
was 15
cents​.
    * The company reported quarterly net income of $16.86
million.
    * Pinnacle West Capital Corp shares had risen by 0.3% this
quarter and gained 4.3% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 146.1% in the last three months.​ 
    * In the last 30 days, two analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 6 "strong buy" or "buy," 9
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the electric
utilities
peer group is also "buy"

Wall Street's median 12-month price target for Pinnacle West
Capital Corp is $75.00 
This summary was machine generated from LSEG data May 2 at 02:16
p.m. UTC. ​All figures in US dollars unless otherwise stated.
(For questions concerning the data in this report, contact
Estimates.Support@lseg.com. For any other questions or feedback,
contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      -0.01          0.15           Beat
 Dec. 31 2023      -0.13          0.00           Beat
 Sep. 30 2023      3.41           3.50           Beat
 Jun. 30 2023      1.19           0.94           Missed