Pinnacle West Capital (PNW) Tops Q4 EPS by 11c; Maintains FY20 EPS Outlook

Pinnacle West Capital (NYSE: PNW) reported Q4 EPS of $0.57, $0.11 better than the analyst estimate of $0.46. Revenue for the quarter came in at $670.39 million versus the consensus estimate of $772.22 million.

“In 2019, our principal subsidiary Arizona Public Service saw its customer base grow two percent, and this growth is something we expect to continue as people move to Arizona and businesses choose our service territory to locate and expand,” said Pinnacle West Chairman, President and CEO Jeff Guldner. “These earnings are consistent with serving more customers and making substantial investments in expanding and strengthening our infrastructure to meet their evolving energy needs.”

“This achievement is the result of ongoing collaboration with key stakeholders like regulators and communities for the ultimate benefit of our customers and shareholders, who count on us for environmentally and socially responsible operations,” Guldner said. “This A-list rating came just as we announced our new goal to serve APS customers with 100 percent clean energy by 2050. This is an exciting time for our employees, customers and all stakeholders as we guide our business and investments toward a carbon-free energy future.”

GUIDANCE:

Pinnacle West Capital sees FY2020 EPS of $4.75-$4.95, versus the consensus of $4.87.

The company reaffirms its 2020 estimated consolidated earnings will be within a range of $4.75 to $4.95 per diluted share, and expects to achieve a weather-normalized, consolidated earned return on average common equity of more than 9.5 percent. Key factors and assumptions underlying the 2020 outlook can be found in the year-end/fourth-quarter 2019 earnings presentation slides at pinnaclewest.com/investors.

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

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