Pinnacle West Capital Corp. Reveals Fall In Q4 Earnings

(RTTNews) - Pinnacle West Capital Corp. (PNW) reported a profit for fourth quarter that dropped from last year.

The company said its profit came in at $21.63 million, or $0.19 per share. This was lower than $53.25 million, or $0.47 per share, in last year's fourth quarter.

Analysts had expected the company to earn $0.12 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 2.8% to $759.66 million. This was up from $739.20 million last year.

Pinnacle West Capital Corp. earnings at a glance:

-Earnings (Q4): $21.63 Mln. vs. $53.25 Mln. last year. -Earnings Decline (Y-o-Y): -59.4% -EPS (Q4): $0.19 vs. $0.47 last year. -EPS Decline (Y-o-Y): -59.6% -Analysts Estimate: $0.12 -Revenue (Q4): $759.66 Mln vs. $739.20 Mln last year. -Revenue Change (Y-o-Y): 2.8%

-Guidance: Full year EPS guidance: $4.35 to $4.55