Pinnacle West Capital Corp. Q3 Profit Drops

(RTTNews) - Pinnacle West Capital Corp. (PNW) released earnings for third quarter that declined from the same period last year.

The company's earnings came in at $312.28 million, or $2.77 per share. This compares with $315.01 million, or $2.80 per share, in last year's third quarter.

Analysts had expected the company to earn $3.00 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 6.3% to $1.19 billion from $1.27 billion last year.

Pinnacle West Capital Corp. earnings at a glance:

-Earnings (Q3): $312.28 Mln. vs. $315.01 Mln. last year. -EPS (Q3): $2.77 vs. $2.80 last year. -Analysts Estimate: $3.00 -Revenue (Q3): $1.19 Bln vs. $1.27 Bln last year.

-Guidance: Full year EPS guidance: $4.75 to $4.95