| Pinnacle West Misses Q4 Earnings Estimates, Guides In-Line - Analyst Blog | |
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Pinnacle West Capital Corp. (PNW) reported adjusted earnings per share of 5 cents in the fourth quarter of 2014, missing the Zacks Consensus Estimate of 17 cents by 70.6%. Earnings were 77.3% lower than the year-ago earnings of 22 cents per share. Pinnacle West Capital Corporation - Earnings Surprise | FindTheBest The plunge was primarily due to planned fossil fuel plant outages.
Pinnacle West’s 2014 operating earnings were $3.58 per share, down 2.2% from $3.66 per share in 2013. Earnings were lower than the Zacks Consensus Estimate of $3.71 by 3.5%.
Total Revenue
Quarterly revenues were $726 million, up 3.8% from the year-earlier period. Revenues also beat the Zacks Consensus Estimate by 0.3%.
In 2014, total revenues of $3,491 million were up 1% from $3,454.7 million in 2013. However, revenues for the year missed the Zacks Consensus Estimate marginally by 0.4%.
Operational Highlights
Total electricity sold in the quarter increased 7.5% to 7,264 Gigawatt-hours (GWh) from 6,758 GWh in the year-ago quarter. The company registered 1.4% growth in the customer count in the reported quarter.
Retail electricity sales increased 3.4% to 6,072 GWh. The rise was due to higher electricity consumption by business as well as residential customers.
Of the total generation in 2014, coal-based units contributed nearly 33.5%, followed by nuclear and gas, and oil and other, with 27.2% and 16.2% share respectively.
Operating income decreased 28.3% year over year to $60.2 million in the reported quarter.
Financial Condition
As of Dec 31, 2014, Pinnacle West’s cash and cash equivalents were $7.6 million compared with $9.5 million as of Dec 31, 2013.
Long-term debt as of Dec 31, 2014, was $3.03 billion compared with $2.79 billion as of Dec 31, 2013.
Pinnacle West generated $1,100 million in cash from operations during 2014, down 4.6% year over year.
Capital expenditure in 2014 was $910.6 million, down 10.4% year over year.
Guidance
Pinnacle West reaffirmed its earnings expectation for 2014 in the range of $3.75 to $3.95 per share.
Other Utility Company Releases
American Electric Power Co., Inc.’s (AEP) earnings per share of 48 cents in the fourth quarter 2014 lagged the Zacks Consensus Estimate of 52 cents by 7.7%.
CMS Energy Corp. (CMS) reported fourth-quarter earnings of 35 cents per share, missing the Zacks Consensus Estimate of 36 cents by 2.8%
DTE Energy Co. (DTE) reported fourth-quarter 2014 operating earnings per share of $1.17, beating the Zacks Consensus Estimate of $1.04 by 12.5%.
Zacks Rank
Pinnacle West presently carries a Zacks Rank #3 (Hold). Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report PINNACLE WEST (PNW): Free Stock Analysis Report AMER ELEC PWR (AEP): Free Stock Analysis Report CMS ENERGY (CMS): Free Stock Analysis Report DTE ENERGY CO (DTE): Free Stock Analysis Report To read this article on Zacks.com click here.
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CMS Energy Corporation
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CODE : CMS |
ISIN : US1258961002 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
CMS Energy est une société de production minière basée aux Etats-Unis D'Amerique. CMS Energy est cotée aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 19,7 milliards US$ (17,7 milliards €). La valeur de son action a atteint son plus bas niveau récent le 18 avril 2014 à 0,12 US$, et son plus haut niveau récent le 19 septembre 2024 à 69,62 US$. CMS Energy possède 282 420 406 actions en circulation. |