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Pinnacle West Capital (PNW) Surpasses Q2 Earnings Estimates

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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 second quarter Zacks Consensus Estimate for earnings of $1.16 per share has increased  by 5.5% in the last 90 days.

Coming to the earnings surprise, Pinnacle West has missed the Zacks Consensus Estimate in three out of last four quarters. However, its average surprise is 7.04%

Zacks Rank: Currently, Pinnacle West has a Zacks Rank #3 (Hold) but that could change following its second quarter 2017 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 second-quarter earnings surpassed expectation. While our consensus called for earnings of $1.16, the company reported earnings of $1.49.

Pinnacle West Capital Corporation Price and EPS Surprise


Market Reaction: It would be interesting to see how the market reacts to the positive 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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