Pinnacle West: 3Q Earnings Snapshot
PHOENIX (AP) _ Pinnacle West Capital Corp. (PNW) on Thursday reported third-quarter earnings of $315 million.
The Phoenix-based company said it had profit of $2.80 per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.75 per share.
The power company posted revenue of $1.27 billion in the period.
Pinnacle West expects full-year earnings to be $4.35 to $4.55 per share.
Pinnacle West shares have risen slightly since the beginning of the year, while the Standard & Poor’s 500 index has climbed 5 percent. The stock has decreased nearly 5 percent in the last 12 months.