Shares of Pinnacle West Capital (NYSE:PNW) rose 2.4% after the company reported Q1 results.
Earnings per share increased 68.75% over the past year to $0.27, which beat the estimate of $0.15.
Revenue of $661,930,000 lower by 10.61% year over year, which missed the estimate of $749,630,000.
Pinnacle West Capital hasn't issued any earnings guidance for the time being.
Pinnacle West Capital hasn't issued any revenue guidance for the time being.
How To Listen To The Conference Call
Date: May 08, 2020
Time: 11:05 PM ET
Recent Stock Performance
Company's 52-week high was at $105.51
52-week low: $60.05
Price action over last quarter: down 28.91%
Pinnacle West is a holding company whose principle subsidiary is Arizona Public Service. APS is a vertically integrated regulated utility that provides electric service to 1.3 million customers over a 35,000-square-mile service territory in Arizona, including the city of Phoenix. Approximately 35% of power sold comes from the company's 29% interest in the nearly 4-gigawatt Palo Verde nuclear plant. Operated by APS, Palo Verde is the largest nuclear plant in the U.S. APS has invested approximately $675 million in the utility-scale photovoltaic solar plants as part of the AZ Sun Program, resulting in 170 MW of solar capacity owned by APS and over 1,000 MW of contracted solar energy from power purchase agreements.