Pinnacle West Capital Corporation (PNW) has recently been facing significant financial turbulence. The company's second quarter results were in line with estimates while the revenues even showed a modest increase. Nonetheless, Pinnacle West's financial returns encountered a setback, with a notable decrease in the second-quarter financial results compared to the previous year. Pinnacle West's earnings per share (EPS) of $1.58 missed the estimates, but its revenue of $1.36 billion surpassed expectations, which is indicative of declining earnings amidst slight revenue growth. The firm anticipates an adjusted EPS range for 2025 between $4.40 - $4.60, hinting at balance between debt pressures and slower earnings growth while presenting Pinnacle West as a potential safe dividend stock. Pinnacle West outlined long-term sales growth guidance of 4%-6% that encircles strategic growth initiatives and its potential capacity to navigate through challenges and market turbulence. However, it faces some caution expressed through insider stock sales of US$1.9m and seeking major rate increase approval. The company is expecting increased power demand from data centers and maintains regular dividend payments.
Pinnacle West Capital Corporation PNW News Analytics from Fri, 16 Aug 2024 07:00:00 GMT to Fri, 08 Aug 2025 08:26:00 GMT -
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- Information 6
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