Pinnacle West Capital Corp. Reports Fall In Q3 Income, but beats estimates

(RTTNews) - Pinnacle West Capital Corp. (PNW) reported earnings for third quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $326.326 million, or $2.88 per share. This compares with $339.798 million, or $3 per share, in last year's third quarter.

Analysts on average had expected the company to earn $2.6 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 12.3% to $1.469 billion from $1.308 billion last year.

Pinnacle West Capital Corp. earnings at a glance (GAAP) :

-Earnings (Q3): $326.326 Mln. vs. $339.798 Mln. last year. -EPS (Q3): $2.88 vs. $3 last year. -Analyst Estimates: $2.6 -Revenue (Q3): $1.469 Bln vs. $1.308 Bln last year.

-Guidance: Full year EPS guidance: $4.20 to $4.35