Pinnacle West Capital Corp. Reports 2% Gain In Q3 Profit

(RTTNews) - Pinnacle West Capital Corp. (PNW) reported earnings for its third quarter that increased from last year.

The company said its bottom line advanced to $263.03 million, or $2.35 per share. This was up from $257.12 million, or $2.30 per share, in last year's third quarter.

Analysts had expected the company to earn $2.41 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 2.5% to $1.17 billion. This was down from $1.20 billion last year.

Pinnacle West Capital Corp. earnings at a glance:

-Earnings (Q3): $263.03 Mln. vs. $257.12 Mln. last year. -Earnings Growth (Y-o-Y): 2.3% -EPS (Q3): $2.35 vs. $2.30 last year. -EPS Growth (Y-o-Y): 2.2% -Analysts Estimate: $2.41 -Revenue (Q3): $1.17 Bln vs. $1.20 Bln last year. -Revenue Change (Y-o-Y): -2.5%

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