Pinnacle West Capital Corp. Q1 Profit Advances 424%

(RTTNews) - Pinnacle West Capital Corp. (PNW) released earnings for its first quarter that gained ground from last year.

The company said its bottom line rose to $23.31 million, or $0.21 per share. This was up from $4.45 million, or $0.04 per share, in last year's first quarter.

Analysts had expected the company to earn $0.16 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 0.1% to $677.73 million. This was up from $677.17 million last year.

Pinnacle West Capital Corp. earnings at a glance:

-Earnings (Q1): $23.31 Mln. vs. $4.45 Mln. last year. -Earnings Growth (Y-o-Y): 423.8% -EPS (Q1): $0.21 vs. $0.04 last year. -EPS Growth (Y-o-Y): 425.0% -Analysts Estimate: $0.16 -Revenue (Q1): $677.73 Mln vs. $677.17 Mln last year. -Revenue Change (Y-o-Y): 0.1%