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Brookfield Infrastructure Partners LP (BIP) - free report >>
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Brookfield Infrastructure Partners LP (BIP) - free report >>
Pinnacle West Capital Corporation (PNW) - free report >>
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Pinnacle West (PNW) to Report Q3 Earnings: What's in Store?
Pinnacle West Capital Corporation (PNW - Free Report) is scheduled to release third-quarter 2021 results on Nov 5, before the opening bell. The company delivered an earnings surprise of 17.18% in the last reported quarter.
Let’s discuss the factors that are likely to reflect on the upcoming quarterly results.
Factors at Play
Solid demand from the residential players and improving demand from the Commercial and Industrial group are likely to aid the utility’s upcoming resultsas business conditions continue to recover from the pandemic lows. Efforts to rein in costs along with an expanding customer base are expected to have benefited its September-quarter earnings.
Improving economic conditions in Arizona, which is a fast-growing service territory, might also act as a tailwind to the impending quarterly release.
Expectations
The Zacks Consensus Estimate for third-quarter sales is pegged at $1.19 billion, indicating a 4.95% decline from the year-ago quarter’s reported figure. The Zacks Consensus Estimate for third-quarter earnings per share stands at $2.79, suggesting a 9.12% decrease from the year-earlier quarter's reported number.
What Our Quantitative Model Predicts
Our proven model predictsan earnings beat for Pinnacle West this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is the case here.
Pinnacle West Capital Corporation Price and EPS Surprise
Pinnacle West Capital Corporation price-eps-surprise | Pinnacle West Capital Corporation Quote
Earnings ESP: PinnacleWest has an Earnings ESP of +0.30%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, Pinnacle West carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks to Consider
Investors can consider the following players from the same industry that have the right combination of elements to beat on earnings this reporting cycle.
Brookfield Infrastructure Partners (BIP - Free Report) is set to release third-quarter 2021 results on Nov 3. It has an Earnings ESP of +0.57% and a Zacks Rank #3 at present.
The AES Corporation (AES - Free Report) is set to release third-quarter 2021 results on Nov 4. It has an Earnings ESP of +3.53% and a Zacks Rank of 3 at present.
TransAlta (TAC - Free Report) is set to release third-quarter 2021 results on Nov 9. It has an Earnings ESP of +12.50% and a Zacks Rank of 3, currently.