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Pinnacle West (PNW) Up 9.9% Since Last Earnings Report: Can It Continue?
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It has been about a month since the last earnings report for Pinnacle West (PNW - Free Report) . Shares have added about 9.9% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Pinnacle West due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.
Pinnacle West Posts Loss in Q4, Beats on Revenues
Pinnacle West incurred a loss of 17 cents per share in the fourth quarter of 2020. The Zacks Consensus Estimate was of earnings of 4 cents per share. The bottom line also compares unfavorably with earnings of 57 cents per share.
Total Revenues
In the quarter under review, total revenues of $741 million improved 10.5% on a year-over-year basis. Also, the top line beat the Zacks Consensus Estimate of $673 million by 10.1%.
Operational Highlights
In the fourth quarter, total operating expenses were $710.1 million, up 7.9% from the year-ago quarter.
Operating income improved 157.1% year over year to $30.8 million.
Interest expenses were $64.1 million, up 7.4% year over year.
The company recorded annual retail customer growth of 2.3% in 2020.
Financial Highlights
Cash and cash equivalents worth $60 million as of Dec 31, 2020 were up from $10.3 million on Dec 31, 2019.
Total long-term debt was $6,314.3 million as of Dec 31, 2020, higher than $4,832.6 million at 2019 end.
Net cash flow provided by operating activities in 2020 was $966.4 million compared with $956.7 million in 2019. For 2020, capital expenditure of the company was $1,326.6 million compared with $1,191.5 million in 2019.
How Have Estimates Been Moving Since Then?
Analysts were quiet during the last two month period as none of them issued any earnings estimate revisions.
VGM Scores
Currently, Pinnacle West has a poor Growth Score of F, however its Momentum Score is doing a lot better with a B. Following the exact same course, the stock was allocated a grade of B on the value side, putting it in the second quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Pinnacle West has a Zacks Rank #4 (Sell). We expect a below average return from the stock in the next few months.
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Pinnacle West (PNW) Up 9.9% Since Last Earnings Report: Can It Continue?
It has been about a month since the last earnings report for Pinnacle West (PNW - Free Report) . Shares have added about 9.9% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Pinnacle West due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.
Pinnacle West Posts Loss in Q4, Beats on Revenues
Pinnacle West incurred a loss of 17 cents per share in the fourth quarter of 2020. The Zacks Consensus Estimate was of earnings of 4 cents per share. The bottom line also compares unfavorably with earnings of 57 cents per share.
Total Revenues
In the quarter under review, total revenues of $741 million improved 10.5% on a year-over-year basis. Also, the top line beat the Zacks Consensus Estimate of $673 million by 10.1%.
Operational Highlights
In the fourth quarter, total operating expenses were $710.1 million, up 7.9% from the year-ago quarter.
Operating income improved 157.1% year over year to $30.8 million.
Interest expenses were $64.1 million, up 7.4% year over year.
The company recorded annual retail customer growth of 2.3% in 2020.
Financial Highlights
Cash and cash equivalents worth $60 million as of Dec 31, 2020 were up from $10.3 million on Dec 31, 2019.
Total long-term debt was $6,314.3 million as of Dec 31, 2020, higher than $4,832.6 million at 2019 end.
Net cash flow provided by operating activities in 2020 was $966.4 million compared with $956.7 million in 2019. For 2020, capital expenditure of the company was $1,326.6 million compared with $1,191.5 million in 2019.
How Have Estimates Been Moving Since Then?
Analysts were quiet during the last two month period as none of them issued any earnings estimate revisions.
VGM Scores
Currently, Pinnacle West has a poor Growth Score of F, however its Momentum Score is doing a lot better with a B. Following the exact same course, the stock was allocated a grade of B on the value side, putting it in the second quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Pinnacle West has a Zacks Rank #4 (Sell). We expect a below average return from the stock in the next few months.