PHOENIX (AP) — PHOENIX (AP) — Pinnacle West Capital Corp. (PNW) on Wednesday reported fourth-quarter earnings of $15.4 million.
The Phoenix-based company said it had net income of 13 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 5 cents per share.
The power company posted revenue of $1.13 billion in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $1.12 billion.
For the year, the company reported profit of $616.5 million, or $5.05 per share. Revenue was reported as $5.34 billion.
Pinnacle West expects full-year earnings to be $4.55 to $4.75 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PNW at https://www.zacks.com/ap/PNW
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