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Pinnacle West Capital (PNW) Misses Q3 Earnings and Revenue
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Phoenix, AZ-based Pinnacle West Capital Corporation (PNW - Free Report) , 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 fluctuations in commodity price remain the concern.
Estimate Trend & Surprise History
Investors should note that the third quarter Zacks Consensus Estimate for earnings of $2.41 per share has decreased by 1.6% over the last 30 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 9.69%.
We have highlighted some of the key details from the just-released announcement below:
Earnings: Pinnacle West’s third-quarter earnings lagged expectation. While our consensus called for an EPS of $2.41, the company reported EPS of $2.35.
Revenue: Pinnacle West missed the revenue estimates in the third quarter. The company posted revenues of $1,166.9 million in the third quarter, compared to our consensus estimate of $1,220 million.
Key Stat: In the quarter under review, total customer growth improved 1.4% 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 Capital (PNW) Misses Q3 Earnings and Revenue
Phoenix, AZ-based Pinnacle West Capital Corporation (PNW - Free Report) , 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 fluctuations in commodity price remain the concern.
Estimate Trend & Surprise History
Investors should note that the third quarter Zacks Consensus Estimate for earnings of $2.41 per share has decreased by 1.6% over the last 30 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 9.69%.
PINNACLE WEST Price and EPS Surprise
PINNACLE WEST Price and EPS Surprise | PINNACLE WEST Quote
Zacks Rank: Currently, Pinnacle West has a Zacks Rank #2 (Buy) but that could change following its third quarter 2016 earnings report which has just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
We have highlighted some of the key details from the just-released announcement below:
Earnings: Pinnacle West’s third-quarter earnings lagged expectation. While our consensus called for an EPS of $2.41, the company reported EPS of $2.35.
Revenue: Pinnacle West missed the revenue estimates in the third quarter. The company posted revenues of $1,166.9 million in the third quarter, compared to our consensus estimate of $1,220 million.
Key Stat: In the quarter under review, total customer growth improved 1.4% 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!
Confidential from Zacks
Beyond this Tale of the Tape, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>