Pinnacle West Capital
The 10-second takeaway
For the quarter ended March 31 (Q1), Pinnacle West Capital beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue grew. GAAP earnings per share grew.
Margins grew across the board.
Pinnacle West Capital notched revenue of $686.7 million. The two analysts polled by S&P Capital IQ predicted revenue of $653.6 million on the same basis. GAAP reported sales were 11% higher than the prior-year quarter's $620.6 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.22. The 11 earnings estimates compiled by S&P Capital IQ forecast $0.12 per share. GAAP EPS were $0.22 for Q1 compared to -$0.08 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 33.9%, 270 basis points better than the prior-year quarter. Operating margin was 12.7%, 500 basis points better than the prior-year quarter. Net margin was 3.6%, 490 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $884.1 million. On the bottom line, the average EPS estimate is $1.07.
Next year's average estimate for revenue is $3.39 billion. The average EPS estimate is $3.56.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 118 members out of 140 rating the stock outperform, and 22 members rating it underperform. Among 45 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 39 give Pinnacle West Capital a green thumbs-up, and six give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Pinnacle West Capital is hold, with an average price target of $55.50.
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