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Pinnacle West Capital Corporation PNW is scheduled to release fourth-quarter 2024 results on Feb. 25, before market open. The company delivered an earnings surprise of 0.6% in the last reported quarter.
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Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Major Factors That Might Have Impacted PNW's Q4 Performance
Pinnacle West Capital’s top-line performance is expected to have benefited from retail customer growth and an increase in retail electricity sales. The quarterly results are likely to gain from robust commercial load growth driven by data centers.
Arizona Public Service’s (“APS”) Energy Management System is expected to continue to provide a better foundation, which might improve the future integration of renewable and energy storage assets into APS’ generation resource portfolio. This is likely to have had a positive impact on the company’s quarterly performance.
However, planned outage in the fourth quarter might have resulted in higher operations and maintenance expenses. Higher depreciation, amortization and property taxes must have offset some positives.
PNW’s Q4 Expectations
The Zacks Consensus Estimate for earnings is pegged at a loss of 15 cents per share.
The Zacks Consensus Estimate for revenues is pinned at $1.06 billion, implying a year-over-year increase of 6.6%.
The Zacks Consensus Estimate for total electric sales is pinned at 7,617.83 gigawatt-hour, up 0.9% from the figure registered in the year-ago quarter.
What Our Quantitative Model Predicts
Our proven model does not predict an earnings beat for Pinnacle West Capital this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not the case here as you will see below.
Pinnacle West Capital Corporation Price and EPS Surprise
Pinnacle West Capital Corporation price-eps-surprise | Pinnacle West Capital Corporation Quote
Earnings ESP: The company’s Earnings ESP is 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, Pinnacle West Capital carries a Zacks Rank #3. You can see the complete list of today's Zacks #1 Rank stocks here.
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