Pinnacle West Capital Corp. Reveals Gain In Q1 Profit

(RTTNews) - Pinnacle West Capital Corp. (PNW) reported a profit for its first quarter that increased from the same period last year.

The company's profit totaled $29.99 million, or $0.27 per share. This compares with $17.92 million, or $0.16 per share, in last year's first quarter.

Analysts had expected the company to earn $0.15 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 10.6% to $661.93 million from $740.53 million last year.

Pinnacle West Capital Corp. earnings at a glance:

-Earnings (Q1): $29.99 Mln. vs. $17.92 Mln. last year. -EPS (Q1): $0.27 vs. $0.16 last year. -Analysts Estimate: $0.15 -Revenue (Q1): $661.93 Mln vs. $740.53 Mln last year.

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