Pinnacle West (PNW) To Post Q2 Earnings: What's In Store?
Zacks Investment Research | Jul 31, 2019 09:17PM ET
Pinnacle West Capital Corporation (NYSE:PNW) is scheduled to release second-quarter 2019 results on Aug 8, before the opening bell. In the last reported quarter, the company reported a negative earnings surprise of 20%.
Let’s see how things are shaping up prior to this announcement.
Factors at Play
Business expansion and related job growth continue to support commercial as well as economic development in the Metro Phoenix area. Pinnacle West anticipates that Metro Phoenix housing market will expand faster than the national average with higher number of housing permits. We expect these factors to make a positive impact in the to-be-reported quarter’s results.
Moreover, the company strives to become a lean principal organization on the back of increasing customer growth and disciplined cost management. This is expected to boost Pinnacle West’s second-quarter results.
However, a planned refueling and maintenance outage initiated on April 6 for Palo Verde Unit 1 is likely to affect the upcoming quarterly results.
Q2 Expectation
The Zacks Consensus Estimate for second-quarter earnings is pegged at $1.43 per share, which indicates a decline of 3.38% on a year-over-year basis.
Earnings Whisper
Our proven model does not show that Pinnacle West is likely to beat estimatesin the second quarter as it does not have the right combination of two key ingredients. A stock needs to have a positive Zacks Investment Research
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