WASHINGTON (dpa-AFX) - Energy holding company Pinnacle West Capital Corp. (PNW) on Thursday reported a loss in its first quarter, compared to prior year's profit, despite higher revenues. Further, the firm maintained its outlook for fiscal 2025 earnings.
In pre-market activity on the NYSE, Pinnacle West Capital shares were losing around 0.4 percent to trade at $94.83.
For 2025, the company continues to estimate its consolidated earnings will be within a range of $4.40 to $4.60 per share on a weather-normalized basis. The Wall Street analysts on average expect the company to report earnings of $4.53 per share. Analysts' estimates typically exclude special items.
In the first quarter, Pinnacle West Capital's net loss attributable to shareholders was $4.64 million or a loss of $0.04 per share, compared with last year's net income attributable of $16.86 million or $0.15 per share.
Analysts expected earnings of $0.02 per share for the quarter.
Operating revenues grew to $1.03 billion from last year's $951.71 million. The Street was looking for revenues of $1.01 billion.
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