Investing.com - Pinnacle West reported on Friday third quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Pinnacle West announced earnings per share of $3 on revenue of $1.31B. Analysts polled by Investing.com anticipated EPS of $2.81 on revenue of $1.24B.
Pinnacle West shares are down 20% from the beginning of the year and are trading at $64.00 , down-from-52-week-high.They are under-performing the S&P 500 which is up 24.6% from the start of the year.
Pinnacle West shares gained 0.63% in pre-market trade the report.
Pinnacle West follows other major Utilities sector earnings this month
Pinnacle West's report follows an earnings beat by NextEra Energy on Wednesday, October 20, 2021, who reported EPS of $0.75 on revenue of $4.37B, compared to forecasts EPS of $0.716 on revenue of $5.44B.
Enbridge had beat expectations on Friday with third quarter EPS of $0.59 on revenue of $11.47B, compared to forecast for EPS of $0.5705 on revenue of $9.62B.
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