Pinnacle West Capital Corp. (PNW) reported consolidated net income attributable to common shareholders for the third quarter of $186.7 million or $1.84 per share, higher than $151.6 million or $1.50 per share in the same quarter a year-ago.
The company's on-going consolidated earnings for the third quarter were $199.1 million or $1.96 per share, up from $161.1 million or $1.59 per share in the prior year quarter.
On average, 8 analysts polled by Thomson Reuters expected the company to report earnings of $1.75 per share for the quarter. Analysts' estimates typically exclude special items.
Quarterly operating revenues rose to $1.14 billion from $1.07 billion in the previous year quarter. Analysts expected the company to report revenue of $1.07 billion for the quarter.
Looking ahead, the company continues to expect its on-going consolidated earnings for 2009 will be within a reasonable range around $2.30 per share, excluding the results of its real estate segment.
For 2010, the company continues to estimate its on-going consolidated earnings will be within a reasonable range around $3.00 per share, excluding the impacts of its real estate segment.
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