Pinnacle West: 2Q Earnings Snapshot

August 3, 2018

PHOENIX (AP) _ Pinnacle West Capital Corp. (PNW) on Friday reported second-quarter profit of $166.7 million.

On a per-share basis, the Phoenix-based company said it had net income of $1.48.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.44 per share.

The power company posted revenue of $974.1 million in the period.

Pinnacle West expects full-year earnings to be $4.35 to $4.55 per share.

Pinnacle West shares have fallen 6 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed almost 6 percent. The stock has declined 8 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PNW at https://www.zacks.com/ap/PNW

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