PHOENIX (AP) 鈥� PHOENIX (AP) 鈥� Pinnacle West Capital Corp. (PNW) on Tuesday reported second-quarter profit of $178.6 million.
On a per-share basis, the Phoenix-based company said it had net income of $1.43.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.49 per share.
The power company posted revenue of $1.46 billion in the period, beating Street forecasts. Three analysts surveyed by Zacks expected $1.4 billion.
Pinnacle West expects full-year earnings to be $4.55 to $4.75 per share.
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