Pinnacle West Capital Corp. Reports 1% Retreat In Q2 Profit

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

The company said its earnings totaled $121.31 million, or $1.08 per share. This was down from $122.90 million, or $1.10 per share, in last year's second quarter.

Analysts had expected the company to earn $1.14 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 2.8% to $915.39 million. This was up from $890.65 million last year.

Pinnacle West Capital Corp. earnings at a glance:

-Earnings (Q2): $121.31 Mln. vs. $122.90 Mln. last year. -Earnings Decline (Y-o-Y): -1.3% -EPS (Q2): $1.08 vs. $1.10 last year. -EPS Decline (Y-o-Y): -1.8% -Analysts Estimate: $1.14 -Revenue (Q2): $915.39 Mln vs. $890.65 Mln last year. -Revenue Change (Y-o-Y): 2.8%

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