Pinnacle West Capital Corp Updates FY23 EPS Guidance To $4.10-$4.30 From $3.95-$4.15 Vs $4.19 Est.
Portfolio Pulse from Happy Mohamed
Pinnacle West Capital Corp has updated its FY23 EPS guidance to $4.10-$4.30 from the previous $3.95-$4.15. This is due to the positive impact of the 2019 rate case appeal resolution and hot weather at the start of Q3, partially offset by higher operations and maintenance expenses and moderate weather-normalized sales growth.
August 04, 2023 | 1:23 pm
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POSITIVE IMPACT
Pinnacle West Capital Corp's updated FY23 EPS guidance could lead to increased investor confidence, potentially driving the stock price up in the short term.
The increase in EPS guidance indicates that Pinnacle West expects higher profitability in FY23. This is a positive signal to investors and could lead to increased demand for the stock, driving up its price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100