Pinnacle West Capital Q2 Profit Misses Market, Maintains FY25 Earnings View - Update
Pinnacle West Capital Corp. (PNW) reported Q2 earnings of $192.56 million ($1.58 per share), missing market estimates of $1.59 per share. Despite this, the company maintained its fiscal 2025 earnings forecast of $4.40 to $4.60 per share. Revenue increased by 3.8% to $1.358 billion, surpassing expectations of $1.35 billion. In pre-market trading, shares rose by 0.5% to $92.79.
Pinnacle West Capital Corp. (PNW), while reporting weak profit in its second quarter below market estimates, on Wednesday maintained fiscal 2025 forecast.
For 2025, the company continues to estimate its consolidated earnings will be within a range of $4.40 to $4.60 per share on a weather-normalized basis.
The Wall Street analysts on average expect the company to report earnings of $4.54 per share. Analysts' estimates typically exclude special items.
In the second quarter, Pinnacle West's net earnings totaled $192.56 million or $1.58 per share, compared with $203.81 million, or $1.76 per share, last year.
Analysts had expected the company to earn $1.59 per share.
The company's revenue for the period rose 3.8% to $1.358 billion from $1.308 billion last year. The Street expected revenues of $1.35 billion.
In the pre-market activity on the NYSE, Pinnacle West shares were gaining around 0.5 percent to trade at $92.79.
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