Pinnacle West Capital Corp. Announces Fall In Q1 Profit, but beats estimates

(RTTNews) - Pinnacle West Capital Corp. (PNW) reported a profit for first quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $16.96 million, or $0.15 per share. This compares with $35.64 million, or $0.32 per share, in last year's first quarter.

Analysts on average had expected the company to earn $0.06 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 12.5% to $783.53 million from $696.48 million last year.

Pinnacle West Capital Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $16.96 Mln. vs. $35.64 Mln. last year. -EPS (Q1): $0.15 vs. $0.32 last year. -Analyst Estimates: $0.06 -Revenue (Q1): $783.53 Mln vs. $696.48 Mln last year.

-Guidance: Full year EPS guidance: $3.90 to $4.10