We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
What's in Store for Pinnacle West Capital (PNW) in Q2 Earnings?
Read MoreHide Full Article
Pinnacle West Capital Corporation (PNW - Free Report) is scheduled to release second-quarter 2024 results on Aug 1, before market open. The company delivered an earnings surprise of 850% in the last reported quarter.
Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Factors to Consider
In April 2024, Arizona Public Service (“APS”) went live with a new Energy Management System (“EMS”). EMS is expected to provide a better foundation, which will improve future integration of the renewable and energy storage assets into APS’ generation resource portfolio. This initiative is likely to have had a positive impact on the company’s quarterly performance.
Revenues are expected to have benefited from retail customer growth and an increase in electricity sales, owing to strong growth in the Arizona region.
However, the company’s planned outage in the second quarter might have resulted in higher operations and maintenance expenses. Higher depreciation, amortization and property taxes must have offset some positives.
Q2 Expectations
The Zacks Consensus Estimate for second-quarter earnings is pegged at $1.31 per share, indicating a year-over-year improvement of 39.4%.
The Zacks Consensus Estimate for revenues is pinned at $1.22 billion, implying a year-over-year increase of 8.4%.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for Pinnacle West Capital this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not the case here as you will see below.
Pinnacle West Capital Corporation Price and EPS Surprise
Earnings ESP: The company’s Earnings ESP is -0.63%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Investors may consider the following players from the same industry as these have the right combination of elements to post an earnings beat this reporting cycle.
The AES Corporation (AES - Free Report) is likely to come up with an earnings beat when it reports second-quarter results on Aug 1. It has an Earnings ESP of +10.2% and a Zacks Rank #2 at present.
The Zacks Consensus Estimate for earnings has moved up 22.2% in the past 30 days. The Zacks Consensus Estimate for sales is pegged at $3.2 billion, which implies a year-over-year increase of 4.7%.
Xcel Energy (XEL - Free Report) is likely to come up with an earnings beat when it reports second-quarter results on Aug 1. It has an Earnings ESP of +6.12% and a Zacks Rank #2 at present.
XEL’s long-term (three to five years) earnings growth rate is 6.39%. The Zacks Consensus Estimate for second-quarter earnings has moved up 8.9% in the past 90 days.
TransAlta (TAC - Free Report) is likely to come up with an earnings beat when it reports second-quarter results on Aug 1. It has an Earnings ESP of +20.00% and a Zacks Rank #1 at present.
The Zacks Consensus Estimate for second-quarter earnings has moved up 20% in the past seven days. It delivered an average earnings surprise of 174.7% in the past four quarters.
Image: Bigstock
What's in Store for Pinnacle West Capital (PNW) in Q2 Earnings?
Pinnacle West Capital Corporation (PNW - Free Report) is scheduled to release second-quarter 2024 results on Aug 1, before market open. The company delivered an earnings surprise of 850% in the last reported quarter.
Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Factors to Consider
In April 2024, Arizona Public Service (“APS”) went live with a new Energy Management System (“EMS”). EMS is expected to provide a better foundation, which will improve future integration of the renewable and energy storage assets into APS’ generation resource portfolio. This initiative is likely to have had a positive impact on the company’s quarterly performance.
Revenues are expected to have benefited from retail customer growth and an increase in electricity sales, owing to strong growth in the Arizona region.
However, the company’s planned outage in the second quarter might have resulted in higher operations and maintenance expenses. Higher depreciation, amortization and property taxes must have offset some positives.
Q2 Expectations
The Zacks Consensus Estimate for second-quarter earnings is pegged at $1.31 per share, indicating a year-over-year improvement of 39.4%.
The Zacks Consensus Estimate for revenues is pinned at $1.22 billion, implying a year-over-year increase of 8.4%.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for Pinnacle West Capital this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not the case here as you will see below.
Pinnacle West Capital Corporation Price and EPS Surprise
Pinnacle West Capital Corporation price-eps-surprise | Pinnacle West Capital Corporation Quote
Earnings ESP: The company’s Earnings ESP is -0.63%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, Pinnacle West Capital carries a Zacks Rank #4 (Sell). You can see the complete list of today's Zacks #1 Rank stocks here.
Stocks to Consider
Investors may consider the following players from the same industry as these have the right combination of elements to post an earnings beat this reporting cycle.
The AES Corporation (AES - Free Report) is likely to come up with an earnings beat when it reports second-quarter results on Aug 1. It has an Earnings ESP of +10.2% and a Zacks Rank #2 at present.
The Zacks Consensus Estimate for earnings has moved up 22.2% in the past 30 days. The Zacks Consensus Estimate for sales is pegged at $3.2 billion, which implies a year-over-year increase of 4.7%.
Xcel Energy (XEL - Free Report) is likely to come up with an earnings beat when it reports second-quarter results on Aug 1. It has an Earnings ESP of +6.12% and a Zacks Rank #2 at present.
XEL’s long-term (three to five years) earnings growth rate is 6.39%. The Zacks Consensus Estimate for second-quarter earnings has moved up 8.9% in the past 90 days.
TransAlta (TAC - Free Report) is likely to come up with an earnings beat when it reports second-quarter results on Aug 1. It has an Earnings ESP of +20.00% and a Zacks Rank #1 at present.
The Zacks Consensus Estimate for second-quarter earnings has moved up 20% in the past seven days. It delivered an average earnings surprise of 174.7% in the past four quarters.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.