Pinnacle West beats profit forecast, Sysco meets earnings estimate

what happened

Pinnacle West Capital posted adjusted earnings of $3.49 per share for the quarter ended September 30, above the $3.31 forecast by thirteen analysts and up from $3.39 a year earlier. Revenue climbed 8.3% to $1.97 billion, ahead of the $1.90 billion analysts expected, and net income reached $434.24 million. The stock has risen 13.9% this quarter and 19.4% year to date.

Sysco reported adjusted earnings of $1.19 per share for the same period, in line with the analyst estimate and up from $1.15 a year earlier. Revenue rose 2.8% to $21.74 billion, short of the $22.02 billion analysts expected. Its reported earnings per share came in at $1.09, and net income was $526 million. Sysco shares are up 4.8% this quarter and 10.9% year to date.

The figures come from Earnings Summary, which compiled them from LSEG data.

why it matters

Pinnacle West's earnings beat stood out, but its revenue also exceeded expectations, supporting the upbeat picture. Sysco's revenue shortfall against consensus, despite earnings in line with forecasts, suggests investors may focus on sales trends. According to the same summary, analysts' mean earnings estimates rose about 4.4% for Pinnacle West and 0.9% for Sysco over the past three months.

market impact

Pinnacle West shares: earnings above forecasts support the stock; Sysco: revenue below expectations weighs on the stock

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