PHOENIX (AP) _ Pinnacle West Capital Corp. (PNW) on Wednesday reported first-quarter profit of $17.9 million.
On a per-share basis, the Phoenix-based company said it had net income of 16 cents.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 20 cents per share.
The power company posted revenue of $740.5 million in the period.
Pinnacle West expects full-year earnings to be $4.75 to $4.95 per share.
Pinnacle West shares have climbed 12% since the beginning of the year, while the Standard & Poor's 500 index has climbed 18%. The stock has risen 18% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PNW at https://www.zacks.com/ap/PNW