Back to top

Pinnacle West's (PNW) Q4 Earnings Beat Estimates, Up Y/Y

Read MoreHide Full Article

Pinnacle West Capital Corporation (PNW - Free Report) delivered adjusted earnings per share of 23 cents in the fourth quarter of 2018, beating the Zacks Consensus Estimate of 17 cents by 35.3%. In the year-ago quarter, the company had reported adjusted earnings of 19 cents. Impressive operational performance and favorable Arizona economy supported the quarterly numbers.

In 2018, Pinnacle West Capital generated earnings of $4.54 per share, up from $4.35 in 2017.

Total Revenues

In the quarter under review, total revenues of $756.4 million fell 0.4% on a year-over-year basis.

In 2018, the company delivered revenues of $3.69 billion, up from $3.57 billion in 2017.

Operational Highlights

In fourth-quarter 2018, total Operating Expenses were $689.5 million, up 2.3% from the year-ago quarter’s tally.

Operating income declined 21.8% year over year to $66.9 million.

Interest expenses rose to $55.9 million from $50.6 million in the year-ago quarter.

Courtesy of the improving Arizona economy, customer volumes improved 1.7% year over year in 2018, resulting in an increase of 16 cents in the company’s earnings compared with 2017.

Guidance

Management projects 2019 EPS in the range of $4.75-$4.95, whose mid-point of $4.85 is higher than the current Zacks Consensus Estimate of $4.84.

Zacks Rank

Pinnacle West currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Other Utility Releases

NextEra Energy, Inc. (NEE - Free Report) delivered fourth-quarter 2018 adjusted earnings of $1.49 per share, which lagged the Zacks Consensus Estimate of $1.51 by 1.3%.

American Electric Power Co., Inc. (AEP - Free Report) generated fourth-quarter 2018 operating EPS of 72 cents, in line with the Zacks Consensus Estimate.

Xcel Energy Inc. (XEL - Free Report) posted fourth-quarter 2018 operating earnings of 42 cents per share, in line with the Zacks Consensus Estimate.

Wall Street’s Next Amazon

Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.

Click for details >>



More from Zacks Analyst Blog

You May Like

Published in