Phoenix, AZ-based Pinnacle West Capital CorporationPNW , together with its subsidiaries, provides electricity services in the state of Arizona.
Pinnacle West's continuous investment in traditional generation, transmission & distribution lines will boost its performance over the long run.
The gradual recovery in Arizona's economy, decline in unemployment rates and increasing housing permits will boost demand going forward. However, stringent regulations and water scarcity remain the concern.
Estimate Trend & Surprise History
Investors should note that the fourth quarter Zacks Consensus Estimate for earnings of 13 cents per share has decreased by 31.6% over the last 90 days.
Coming to the earnings surprise, Pinnacle West has surpassed the Zacks Consensus Estimate in one out of the last four quarters, resulting in a negative average surprise of 0.92%.
Zacks Rank: Currently, Pinnacle West has a Zacks Rank #3 (Hold) but that could change following its first quarter 2016 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:
Earnings : Pinnacle West's first-quarter earnings lagged expectation. While our consensus called for an EPS of 13 cents, the company reported EPS of 4 cents.
Revenue : Pinnacle West missed the revenue estimates in the first quarter. The company posted revenues of $677.2 million in the first quarter, compared to our consensus estimate of $683 million.
Key Stat: In the quarter under review, weather-normalized sales increased 1.3% year over year, while total customer growth also improved 1.3% quarter-over-quarter .
Stock Price : It would be interesting to see how the market reacts to the negative earnings surprise during the trading session today.
Check back later for our full write up on this PNW earnings report later!
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PINNACLE WEST (PNW): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
