We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Pinnacle West Capital (PNW) Q1 Earnings Beat Estimates
Read MoreHide Full Article
Pinnacle West Capital (PNW - Free Report) reported adjusted earnings per share of 21 cents in the first quarter of 2017 surpassing the Zacks Consensus Estimate of 15 cents. Quarterly earnings increased 425 % year over year.
A low effective income tax rate positively impacted earnings by 5 cents per share and high lost fixed cost recovery revenues boosted earnings by 4 cents per share
Total Revenue
In the quarter under review, total revenue of $677.7 million increased from the year-ago figure of $677.2 million by 0.07%.
Operational Highlights
Lower operations and maintenance expenses increased results by 11 cents per share compared with the prior-year period. The lower expenses were largely the result of fewer planned fossil plant maintenance in the first quarter of 2017 compared with year-ago, as well as lower employee benefit costs.
The effects of weather variations improved results by 3 cents per share compared with the year-ago period.
Total operating expense in the first quarter of 2017 decreased 3.6% to $604.2 million, primarily due to lower operation and maintenance expenses.
In the reported quarter, operating income increased 46.5% year over year to $73.5 million.
Interest expenses were up 4.1% to $47.3 million from $45.5 million a year ago.
Pinnacle West Capital Corporation Price, Consensus and EPS Surprise
Pinnacle West Capital expects Customer growth to be sustainable as Arizona’s economy continues post-recession improvement.
Total projected capital expenditure from 2017, 2018 and 2019 is $1,337, 1,139 and 1,009 million, respectively.
Peer Releases
American Electric Power Co., Inc. (AEP - Free Report) reported first-quarter 2017 operating earnings per share of 96 cents, missing the Zacks Consensus Estimate of 97 cents by a penny.
DTE Energy Company (DTE - Free Report) reported first-quarter 2017 operating earnings per share of $1.79, which surpassed the Zacks Consensus Estimate of $1.57 by 14%.
CMS Energy Corporation (CMS - Free Report) reported first-quarter 2017 adjusted earnings per share of 71 cents, beating the Zacks Consensus Estimate of 65 cents by 9.2%.
Zacks Rank
Pinnacle West Capital currently carries a Zacks Rank #4 (Sell).
5 Trades Could Profit "Big-League" from Trump Policies
If the stocks above spark your interest, wait until you look into companies primed to make substantial gains from Washington's changing course. Today Zacks reveals 5 tickers that could benefit from new trends like streamlined drug approvals, tariffs, lower taxes, higher interest rates, and spending surges in defense and infrastructure.
Image: Bigstock
Pinnacle West Capital (PNW) Q1 Earnings Beat Estimates
Pinnacle West Capital (PNW - Free Report) reported adjusted earnings per share of 21 cents in the first quarter of 2017 surpassing the Zacks Consensus Estimate of 15 cents. Quarterly earnings increased 425 % year over year.
A low effective income tax rate positively impacted earnings by 5 cents per share and high lost fixed cost recovery revenues boosted earnings by 4 cents per share
Total Revenue
In the quarter under review, total revenue of $677.7 million increased from the year-ago figure of $677.2 million by 0.07%.
Operational Highlights
Lower operations and maintenance expenses increased results by 11 cents per share compared with the prior-year period. The lower expenses were largely the result of fewer planned fossil plant maintenance in the first quarter of 2017 compared with year-ago, as well as lower employee benefit costs.
The effects of weather variations improved results by 3 cents per share compared with the year-ago period.
Total operating expense in the first quarter of 2017 decreased 3.6% to $604.2 million, primarily due to lower operation and maintenance expenses.
In the reported quarter, operating income increased 46.5% year over year to $73.5 million.
Interest expenses were up 4.1% to $47.3 million from $45.5 million a year ago.
Pinnacle West Capital Corporation Price, Consensus and EPS Surprise
Pinnacle West Capital Corporation Price, Consensus and EPS Surprise | Pinnacle West Capital Corporation Quote
Guidance
Pinnacle West Capital expects Customer growth to be sustainable as Arizona’s economy continues post-recession improvement.
Total projected capital expenditure from 2017, 2018 and 2019 is $1,337, 1,139 and 1,009 million, respectively.
Peer Releases
American Electric Power Co., Inc. (AEP - Free Report) reported first-quarter 2017 operating earnings per share of 96 cents, missing the Zacks Consensus Estimate of 97 cents by a penny.
DTE Energy Company (DTE - Free Report) reported first-quarter 2017 operating earnings per share of $1.79, which surpassed the Zacks Consensus Estimate of $1.57 by 14%.
CMS Energy Corporation (CMS - Free Report) reported first-quarter 2017 adjusted earnings per share of 71 cents, beating the Zacks Consensus Estimate of 65 cents by 9.2%.
Zacks Rank
Pinnacle West Capital currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
5 Trades Could Profit "Big-League" from Trump Policies
If the stocks above spark your interest, wait until you look into companies primed to make substantial gains from Washington's changing course. Today Zacks reveals 5 tickers that could benefit from new trends like streamlined drug approvals, tariffs, lower taxes, higher interest rates, and spending surges in defense and infrastructure.
See these buy recommendations now >>