Pinnacle West Capital (PNW) Tops Q3 EPS by 14c, Miss on Revenues; Offers FY17 EPS Mid-Point Guidance Below Consensus, FY18 EPS Guidance Below Estimates

Pinnacle West Capital (NYSE: PNW) reported Q3 EPS of $2.46, $0.14 better than the analyst estimate of $2.32. Revenue for the quarter came in at $1.18 billion versus the consensus estimate of $1.22 billion.

Financial Outlook

For 2017, the Company continues to expect its ongoing consolidated earnings will be within a range of $4.15 to $4.30 per diluted share on a weather-normalized basis.

Looking ahead to 2018, the Company estimates its ongoing consolidated earnings will be within a range of $4.25 to $4.45 per diluted share, and expects to achieve a consolidated earned return on average common equity of more than 9.5 percent.

GUIDANCE:

Pinnacle West Capital sees FY2017 EPS of $4.15-$4.30, versus the consensus of $4.26.

Pinnacle West Capital sees FY2018 EPS of $4.25-$4.45, versus the consensus of $4.48.

For earnings history and earnings-related data on Pinnacle West Capital (PNW) click here.

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