Pinnacle West reports Q1 EPS (4c), consensus 2c

Reports Q1 revenue $1.03B, consensus $1.01B. “Financial results in the first quarter were in line with our expectations, especially given the power plant overhauls and maintenance work that we had built into our budget to ensure our system runs reliably during the upcoming summer months,” said Pinnacle West (PNW) Chairman, President and Chief Executive Officer Ted Geisler. “We remain optimistic that we will achieve our annual targets as customer and electricity sales growth remain robust, along with Arizona’s overall economy. With Arizona’s population growing faster than the national average, it’s clear that people view Arizona as an attractive place to live and do business.”