PHOENIX (AP) — PHOENIX (AP) — Pinnacle West Capital Corp. (PNW) on Thursday reported second-quarter net income of $106.7 million.
The Phoenix-based company said it had profit of 94 cents per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.19 per share.
The power company posted revenue of $1.12 billion in the period, exceeding Street forecasts. Three analysts surveyed by Zacks expected $1.03 billion.
Pinnacle West expects full-year earnings to be $4.10 to $4.30 per share.
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