Pinnacle West Capital Q3 Profit Tops View - Quick Facts

(RTTNews) - Pinnacle West Capital Corp. (PNW) reported that its third-quarter net income to shareholders increased to $244.0 million, or $2.20 per share from $226.2 million or $2.04 per share, last year.

On average, 11 analysts polled by Thomson Reuters expected the company to report profit per share of $2.15 for the quarter. Analysts' estimates typically exclude special items.

Operating revenues rose to $1.17 billion from $1.15 billion, a year ago, while four analysts expected revenue of $1.14 billion for the quarter.

For 2014, the company continues to expect on-going consolidated earnings will be in the range of $3.60 to $3.75 per share. Analysts now expect earnings of $3.69 per share.

Looking ahead to 2015, the Company currently estimates its on-going consolidated earnings will be within a range of $3.75 to $3.95 per share. Analysts expect the company to report 2015 earnings per share of $3.85.