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What Awaits Pinnacle West Capital (PNW) in Q1 Earnings?
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Pinnacle West Capital Corporation (PNW - Free Report) is scheduled to release first-quarter 2023 results on May 4, before market open. The company delivered a negative earnings surprise of 16.7% in the last reported quarter.
Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Factors to Consider
Pinnacle West Capital’s earnings are expected to have benefited from improving economic condition in Arizona, which must have boosted the residential customer count and sales volume. The company’s revenues are also likely to have gained from increased contribution from Transmission.
Higher interest expense, increased depreciation & amortization, and operation and maintenance costs might have offset some positives.
Q1 Expectations
The Zacks Consensus Estimate for earnings is pegged at 3 cents per share, indicating a year-over-year decrease of 80%.
The same for revenues is pinned at $792.1 million, implying a year-over-year improvement of 1.09%.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for Pinnacle West Capital this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not the case here as you will see below.
Pinnacle West Capital Corporation Price and EPS Surprise
Earnings ESP: The company’s Earnings ESP is -69.23%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, Pinnacle West Capital carries a Zacks Rank #3.
Stocks to Consider
Investors may consider the following players from the same industry that have the right combination of elements to come up with an earnings beat this reporting cycle.
Eversource Energy (ES - Free Report) is likely to come up with an earnings beat when it reports first-quarter results on May 3, after market close. It has an Earnings ESP of +0.49% and a Zacks Rank #3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
ES’ long-term earnings growth rate is pegged at 6.34%. The Zacks Consensus Estimate for earnings is pinned at $1.36 per share, indicating a year-over-year increase of 4.62%.
PPL Corporation (PPL - Free Report) is likely to come up with an earnings beat when it reports first-quarter results on May 4, before market open. It has an Earnings ESP of +7.69% and a Zacks Rank #3 at present.
PPL’s long-term (three to five years) earnings growth rate is pegged at 7.42%. The bottom-line estimate is pegged at 42 cents, indicating a year-over-year improvement of 2.44%.
Brookfield Renewable Partners (BEP - Free Report) is likely to come up with an earnings beat when it reports first-quarter results on May 5, before market open. It has an Earnings ESP of +115.39% and a Zacks Rank #3 at present.
The bottom-line estimate is pegged at loss of 13 cents per unit, implying a year-over-year improvement of 18.75%.
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What Awaits Pinnacle West Capital (PNW) in Q1 Earnings?
Pinnacle West Capital Corporation (PNW - Free Report) is scheduled to release first-quarter 2023 results on May 4, before market open. The company delivered a negative earnings surprise of 16.7% in the last reported quarter.
Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Factors to Consider
Pinnacle West Capital’s earnings are expected to have benefited from improving economic condition in Arizona, which must have boosted the residential customer count and sales volume. The company’s revenues are also likely to have gained from increased contribution from Transmission.
Higher interest expense, increased depreciation & amortization, and operation and maintenance costs might have offset some positives.
Q1 Expectations
The Zacks Consensus Estimate for earnings is pegged at 3 cents per share, indicating a year-over-year decrease of 80%.
The same for revenues is pinned at $792.1 million, implying a year-over-year improvement of 1.09%.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for Pinnacle West Capital this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not the case here as you will see below.
Pinnacle West Capital Corporation Price and EPS Surprise
Pinnacle West Capital Corporation price-eps-surprise | Pinnacle West Capital Corporation Quote
Earnings ESP: The company’s Earnings ESP is -69.23%.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, Pinnacle West Capital carries a Zacks Rank #3.
Stocks to Consider
Investors may consider the following players from the same industry that have the right combination of elements to come up with an earnings beat this reporting cycle.
Eversource Energy (ES - Free Report) is likely to come up with an earnings beat when it reports first-quarter results on May 3, after market close. It has an Earnings ESP of +0.49% and a Zacks Rank #3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
ES’ long-term earnings growth rate is pegged at 6.34%. The Zacks Consensus Estimate for earnings is pinned at $1.36 per share, indicating a year-over-year increase of 4.62%.
PPL Corporation (PPL - Free Report) is likely to come up with an earnings beat when it reports first-quarter results on May 4, before market open. It has an Earnings ESP of +7.69% and a Zacks Rank #3 at present.
PPL’s long-term (three to five years) earnings growth rate is pegged at 7.42%. The bottom-line estimate is pegged at 42 cents, indicating a year-over-year improvement of 2.44%.
Brookfield Renewable Partners (BEP - Free Report) is likely to come up with an earnings beat when it reports first-quarter results on May 5, before market open. It has an Earnings ESP of +115.39% and a Zacks Rank #3 at present.
The bottom-line estimate is pegged at loss of 13 cents per unit, implying a year-over-year improvement of 18.75%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.