PHOENIX (AP) — Pinnacle West Capital Corp. (PNW) on Thursday reported second-quarter earnings of $144.1 million.
The Phoenix-based company said it had profit of $1.28 per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.43 per share.
The power company posted revenue of $869.5 million in the period.
Pinnacle West shares have increased 9% since the beginning of the year, while the Standard & Poor's 500 index has increased 15%. The stock has climbed 15% in the last 12 months.