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Pinnacle West Capital Third Quarter 2022 Earnings: Beats Expectations

Simply Wall St
·1-min read

Pinnacle West Capital (NYSE:PNW) Third Quarter 2022 Results

Key Financial Results

  • Revenue: US$1.47b (up 12% from 3Q 2021).

  • Net income: US$326.3m (down 4.0% from 3Q 2021).

  • Profit margin: 22% (down from 26% in 3Q 2021). The decrease in margin was driven by higher expenses.

  • EPS: US$2.88 (down from US$3.01 in 3Q 2021).

earnings-and-revenue-growth
earnings-and-revenue-growth

All figures shown in the chart above are for the trailing 12 month (TTM) period

Pinnacle West Capital Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 12%. Earnings per share (EPS) also surpassed analyst estimates by 11%.

Looking ahead, revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Electric Utilities industry in the US.

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Performance of the American Electric Utilities industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

You still need to take note of risks, for example - Pinnacle West Capital has 2 warning signs (and 1 which is potentially serious) we think you should know about.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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