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Pinnacle West Capital Corp. Earnings Retreat In Q1

Pinnacle West Capital Corp. (PNW) announced a profit for first quarter that declined from the same period last year.

The company's profit totaled $3.22 million, or $0.03 per share. This compares with $23.31 million, or $0.21 per share, in last year's first quarter.

Analysts had expected the company to earn $0.09 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 2.2% to $692.71 million from $677.73 million last year.

Pinnacle West Capital Corp. earnings at a glance:

-Earnings (Q1): $3.22 Mln. vs. $23.31 Mln. last year.
-EPS (Q1): $0.03 vs. $0.21 last year.
-Analysts Estimate: $0.09
-Revenue (Q1): $692.71 Mln vs. $677.73 Mln last year.

Full year EPS guidance: $4.35 to $4.55

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