Pinnacle West Capital Corp. Bottom Line Drops 72% In Q1

(RTTNews) - Pinnacle West Capital Corp. (PNW) announced earnings for first quarter that declined compared to the same period last year.

The company said its profit fell to $4.45 million, or $0.04 per share. This was lower than $16.12 million, or $0.14 per share, in last year's first quarter.

Analysts had expected the company to earn $0.12 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 0.9% to $677.17 million. This was up from $671.22 million last year.

Pinnacle West Capital Corp. earnings at a glance:

-Earnings (Q1): $4.45 Mln. vs. $16.12 Mln. last year. -Earnings Decline (Y-o-Y): -72.4% -EPS (Q1): $0.04 vs. $0.14 last year. -EPS Decline (Y-o-Y): -71.4% -Analysts Estimate: $0.12 -Revenue (Q1): $677.17 Mln vs. $671.22 Mln last year. -Revenue Change (Y-o-Y): 0.9%

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