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.
Pinnacle West (PNW) Earnings Beat Estimates in Q1, Sales Down
Read MoreHide Full Article
Pinnacle West Capital Corporation (PNW - Free Report) delivered adjusted earnings per share (EPS) of 27 cents in the first quarter of 2020, which beat the Zacks Consensus Estimate of 16 cents by 68.7%. In the year-ago quarter, the company had reported adjusted earnings of 16 cents. The bottom line reflects the impact of improved customer growth and cost management.
Total Revenues
In the quarter under review, total revenues of $661.9 million fell 10.6% on a year-over-year basis. The figure missed the Zacks Consensus Estimate of $748 million by 11.5%.
Pinnacle West Capital Corporation Price, Consensus and EPS Surprise
FirstEnergy Corporation (FE - Free Report) delivered first-quarter 2020 operating earnings of 66 cents per share, which beat the Zacks Consensus Estimate of 64 cents by 3.13%.
NextEra Energy (NEE - Free Report) reported first-quarter 2020 adjusted earnings of $2.38 per share, which surpassed the Zacks Consensus Estimate of $2.21 by 7.7%.
CMS Energy Corporation (CMS - Free Report) reported first-quarter 2020 adjusted EPS of 86 cents, which surpassed the Zacks Consensus Estimate of 77 cents by 11.7%.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time. See 8 breakthrough stocks now>>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Pinnacle West (PNW) Earnings Beat Estimates in Q1, Sales Down
Pinnacle West Capital Corporation (PNW - Free Report) delivered adjusted earnings per share (EPS) of 27 cents in the first quarter of 2020, which beat the Zacks Consensus Estimate of 16 cents by 68.7%. In the year-ago quarter, the company had reported adjusted earnings of 16 cents. The bottom line reflects the impact of improved customer growth and cost management.
Total Revenues
In the quarter under review, total revenues of $661.9 million fell 10.6% on a year-over-year basis. The figure missed the Zacks Consensus Estimate of $748 million by 11.5%.
Pinnacle West Capital Corporation Price, Consensus and EPS Surprise
Pinnacle West Capital Corporation price-consensus-eps-surprise-chart | Pinnacle West Capital Corporation Quote
Operational Highlights
In first-quarter 2020, total operating expenses were $621.5 million, down 8.6% from the year-ago quarter’s tally.
Operating income declined 32.7% year over year to $40.4 million.
Interest expenses declined to $59.2 million from $60.6 million in the year-ago quarter.
Guidance
Management reaffirmed 2020 EPS in the range of $4.75-$4.95, whose mid-point of $4.85 is higher than the current Zacks Consensus Estimate of $4.68.
Zacks Rank
Pinnacle West currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Utility Releases
FirstEnergy Corporation (FE - Free Report) delivered first-quarter 2020 operating earnings of 66 cents per share, which beat the Zacks Consensus Estimate of 64 cents by 3.13%.
NextEra Energy (NEE - Free Report) reported first-quarter 2020 adjusted earnings of $2.38 per share, which surpassed the Zacks Consensus Estimate of $2.21 by 7.7%.
CMS Energy Corporation (CMS - Free Report) reported first-quarter 2020 adjusted EPS of 86 cents, which surpassed the Zacks Consensus Estimate of 77 cents by 11.7%.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>