The following are the recent financial results for Pinnacle West Capital Corp. (PNW):
In the first quarter, the company reported earnings of $16.9 million, showcasing a significant improvement from a loss of $3.3 million in the same period the previous year. Earnings per share (EPS) also increased from a loss of $0.03 per share last year to a gain of $0.15 per share this year. This enhancement in EPS outpaced the expectation of analysts, who projected no earnings per share.
Revenue also displayed growth, with $951.7 million reported in the first quarter, which is a rise from the $945.0 million generated in the same period last year.
Moving forward, the company has provided its EPS guidance for the full financial year, forecasting a range of $4.60 to $4.80 per share.
