PNM Resources

PNM Resources, Inc. operates as an investor-owned holding company, which provides electricity and electric services in New Mexico and Texas. It operates through the following segments: Public Service Company of New Mexico (PNM), Texas-New Mexico Power Company (TNMP), and Corporate and Other. The PNM segment includes the retail electric utility operations of the company. The TNMP segment provides transmission and distribution services of electricity in Texas. The Corporate and Other segment consists of holding company activities. The company was founded in 2000 and is headquartered in Albuquerque, NM.

Earnings data Q4 2020

Earnings data Q1 2021

Earnings data Q2 2021

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

PNM Resources affirms guidance, navigates challenges, and eyes growth opportunities

PNM Resources' Q1 2023 earnings call highlighted strong performance, operational strengths, challenges in regulatory and asset monetization, and promising opportunities from growth initiatives and the AVANGRID merger. The company remains focused on executing its strategies amidst industry dynamics and merger developments.

PNM Resources affirms earnings, accelerates clean energy transition amid challenges

PNM Resources maintains financial performance in line with guidance, focusing on clean energy transition and strategic partnerships.
Facing challenges related to legal proceedings, regulatory uncertainties, and operational adjustments amidst ongoing merger process and heat wave impacts.
Seizing opportunities to enhance carbon-free capacity, secure federal funding, and drive growth through strategic initiatives and market trends.

PNM Resources reports strong Q3 earnings, navigates merger uncertainties

PNM Resources demonstrated strong financial performance and operational efficiency in Q3 2023, with raised earnings guidance for the year.
While facing challenges such as regulatory proceedings and uncertainties related to the merger with AVANGRID, the company is well-positioned for growth.
Opportunities in renewable energy investments, economic development wins, and strategic celebrations offer avenues for future expansion and value creation.
Overall, PNM Resources shows resilience and strategic foresight in navigating the evolving energy landscape and driving sustainable growth.

PNM Resources reports robust Q4 earnings amidst pending AVANGRID merger

PNM Resources delivered strong financial performance and outlined strategic objectives for future growth.
The pending merger with AVANGRID presents opportunities for operational synergies and market expansion.
Challenges related to regulatory approvals and external factors require careful navigation and strategic decision-making.

PNM Resources surpasses Q1 earnings, focuses on sustainable growth

PNM Resources delivered strong Q1 earnings, maintained guidance, and aims for sustainable growth through renewable energy initiatives.
While facing challenges in coal plant capacity and risk management, PNM is strategically positioned to capitalize on regulatory opportunities and expand its clean energy footprint.

TXNM Energy reports solid Q2 results, plans equity funding for growth

TXNM Energy, formerly PNM Resources, delivered strong financial performance and operational resilience in Q2 2024. The company's strategic focus on resiliency planning, equity funding for growth, and regulatory compliance positions it well for future success. Navigating challenges in rate case processes and balancing investments with resiliency planning will be key focus areas for TXNM Energy moving forward.

Revenue

Cost of revenue

Gross profit

Operating expenses

SG&A

Other

Operating income

EBITDA

Net income

Earnings per share

Total assets

Current assets

Cash & equivalents

Receivables

Inventory

Non-current assets

Net PPE

Intangibles

Total liabilities

Current liabilities

Short term debt

Income tax payable

Non-current liabilities

Long-term debt

Total equity

Stockholders equity

Minority interest

Total liabilities & equity

Total debt

Net debt

Book value per share

Cash from operations

Funds from operations

Change in working capital

Cash from investing

Capital expenditure

Purchase/sale of investments

Purchase/sale of business

Other sources

Cash from financing

Change in stock

Change in debt

Cash dividends paid

Cash from other sources

Net change in cash

Free cash flow

TXNM Energy, Inc. operates as an investor-owned holding company, which provides electricity and electric services in New Mexico and Texas. It operates through the following segments: Public Service Company of New Mexico (PNM), Texas-New Mexico Power Company (TNMP), and Corporate and Other. The PNM segment includes the retail electric utility operations of the company. The TNMP segment provides transmission and distribution services of electricity in Texas. The Corporate and Other segment consists of holding company activities. The company was founded in 2000 and is headquartered in Albuquerque, NM.

TXNM Energy Inc

ALBUQUERQUE, N.M., Aug. 5, 2024 /PRNewswire/ -- TXNM Energy, Inc. (NYSE: TXNM) has completed its holding company name change, effective as of 5:00pm ET on August 2, 2024.

TXNM Energy (NYSE: TXNM) Completes Name Change from PNM Resources

PNM Resources, Inc. (NYSE:PNM ) Q2 2024 Earnings Conference Call July 31, 2024 11:00 AM ET Company Participants Lisa Goodman - IR Pat Vincent-Collawn - Chairman & CEO Don Tarry - President & COO Lisa Eden - SVP, CFO & Treasurer Conference Call Participants Julien Dumoulin Smith - Jefferies Nicholas Campanella - Barclays Michael Lonegan - Evercore ISI Jonathan Reeder - Wells Fargo Ryan Levine - Citi Operator Good day, and welcome to the PNM Resources' Second Quarter 2024 Earnings Conference Call. All participants will be in a listen-only mode.

PNM Resources, Inc. (PNM) Q2 2024 Earnings Call Transcript

PNM Resources' (PNM) second-quarter 2024 earnings and revenues increase year over year. Total operating expenses decline during the same period.

PNM Resources (PNM) Q2 Earnings Top Estimates, Sales Rise Y/Y

PNM Resources (PNM) came out with quarterly earnings of $0.60 per share, beating the Zacks Consensus Estimate of $0.55 per share. This compares to earnings of $0.55 per share a year ago.

PNM Resources (PNM) Beats Q2 Earnings Estimates

2024 Ongoing Earnings Guidance Affirmed 2024 second quarter GAAP earnings of $0.53 per diluted share 2024 second quarter ongoing earnings of $0.60 per diluted share Affirmed ongoing earnings guidance range of $2.65 - $2.75 Name change to TXNM Energy, trading under TXNM ticker expected August 5, 2024 ALBUQUERQUE, N.M., July 31, 2024 /PRNewswire/ --                                                             PNM Resources (In millions, except EPS)   Q2 2024 Q2 2023 YTD 2024 YTD 2023 GAAP net earnings attributable to PNM Resources $48.0 $45.3 $95.2 $100.3 GAAP diluted EPS $0.53 $0.53 $1.05 $1.16 Ongoing net earnings $54.3 $47.4 $91.3 $95.1 Ongoing diluted EPS $0.60 $0.55 $1.01 $1.10 PNM Resources (NYSE: PNM) today released its 2024 second quarter results.

PNM Resources Reports Second Quarter 2024 Results

ALBUQUERQUE, N.M. , July 22, 2024 /PRNewswire/ -- PNM Resources, Inc. (NYSE: PNM) is expecting to complete the change of its holding company name to TXNM Energy, Inc. (NYSE: TXNM), effective at 5:00pm ET on August 2, 2024.

PNM Resources (NYSE: PNM) Transitions to TXNM Energy (NYSE: TXNM) with Trading Effective on August 5

ALBUQUERQUE, N.M., July 16, 2024 /PRNewswire/ -- At its regular meeting held today, the Board of Directors of PNM Resources (NYSE: PNM) declared the regular quarterly dividend of $0.3875 per share on the company's common stock.

PNM Resources Board Declares Quarterly Common Stock Dividend

ALBUQUERQUE, N.M., July 8, 2024 /PRNewswire/ -- PNM Resources will announce second quarter 2024 financial results prior to the market opening on Wednesday, July 31, 2024.

PNM Resources to Announce 2024 Second Quarter Earnings on July 31

PNM Resources (PNM) continues to benefit from infrastructure investment and focus on clean power generation.

PNM Resources (PNM) Rides on Clean & Affordable Power Supply

Phased-In Rate Path Proposed to Mitigate Customer Impact ALBUQUERQUE, N.M., June 14, 2024 /PRNewswire/ -- Public Service Company of New Mexico (PNM), wholly-owned subsidiary of PNM Resources, Inc. (NYSE: PNM), today filed a request for a change in electricity customer rates with the New Mexico Public Regulation Commission (NMPRC) to begin July 1, 2025.

PNM Files 2025 Rate Request

ALBUQUERQUE, N.M., June 14, 2024 /PRNewswire/ -- The Public Utility Commission of Texas (PUCT) approved the application from Texas-New Mexico Power Company (TNMP), the Texas utility subsidiary of PNM Resources, Inc. (NYSE: PNM), to recover over $205 million in net distribution infrastructure investments to reliably serve customers' power needs since its last filing.

TNMP Receives Approval for Distribution Investment Recovery

ALBUQUERQUE, N.M. , June 10, 2024 /PRNewswire/ -- PNM Resources (NYSE: PNM) today announced the closing of its offering of $500,000,000 aggregate principal amount of 5.75% junior subordinated convertible notes due 2054 (the "convertible notes").

PNM Resources Closes Offering of $500 Million 5.75% Junior Subordinated Convertible Notes due 2054

ALBUQUERQUE, N.M. , June 4, 2024 /PRNewswire/ -- PNM Resources (NYSE: PNM) today announced the pricing of $500,000,000 in aggregate principal amount of its 5.75% junior subordinated convertible notes due 2054 (the "convertible notes") in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act").

PNM Resources Announces Pricing of $500 Million of 5.75% Junior Subordinated Convertible Notes due 2054

2024 ongoing earnings guidance to be affirmed during meetings  ALBUQUERQUE, N.M., June 4, 2024 /PRNewswire/ -- PNM Resources (NYSE: PNM) management will meet with analysts and investors this week at the RBC Capital Markets Global Energy, Power and Infrastructure Conference in New York City.

PNM Resources Management to Meet with Investors

ALBUQUERQUE, N.M. , June 3, 2024 /PRNewswire/ -- PNM Resources (NYSE: PNM) today announced that it intends to offer, subject to market and other conditions, $500,000,000 in aggregate principal amount of its junior subordinated convertible notes due 2054 (the "convertible notes") in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act").

PNM Resources Announces Offering of Junior Subordinated Convertible Notes due 2054

PNM Resources (PNM) continues with its goal of emission reduction. The new 410-MW solar and battery capacity should help the company attain its 75% carbon-free target by 2026.

PNM Resources (PNM) Gets Nod for New Solar & Battery Project

ALBUQUERQUE, N.M., May 31, 2024 /PRNewswire/ -- The New Mexico Public Regulation Commission (NMPRC) approved an application by Public Service Company of New Mexico (PNM), a wholly-owned subsidiary of PNM Resources (NYSE: PNM), for new energy resources to be added by summer 2026.

NMPRC Approves New PNM Energy Resources for 2026

PNM Resources (PNM) reported earnings 30 days ago. What's next for the stock?

Why Is PNM Resources (PNM) Down 2.1% Since Last Earnings Report?

Ameren

Algonquin Power & Utilities

Eversource Energy

Evergy Inc

FirstEnergy

National Grid

Investors should consider pivoting into utilities stocks in anticipation of lower rates later this year. It's all a question of weighing current bond rates against utilities dividends and potential price appreciation.

7 Bonds and Utilities Stocks to Buy in Anticipation of Lower Rates

Public Service Enterprise Group

Investors with an interest in Utility - Electric Power stocks have likely encountered both PNM Resources (PNM) and PSEG (PEG). But which of these two stocks presents investors with the better value opportunity right now?

PNM vs. PEG: Which Stock Should Value Investors Buy Now?

PNM Resources (PNM) makes a strong case for investment, given its growth prospects, strong return on equity and ability to increase shareholders' value.

Here's Why You Should Add PNM Resources (PNM) to Your Portfolio

Investors with an interest in Utility - Electric Power stocks have likely encountered both PNM Resources (PNM) and PSEG (PEG). But which of these two stocks offers value investors a better bang for their buck right now?

PNM or PEG: Which Is the Better Value Stock Right Now?

PNM Resources' (PNM) first-quarter 2024 earnings and revenues decrease year over year. Total operating expenses also decline during the same period.

PNM Resources (PNM) Q1 Earnings & Revenues Miss Estimates

PNM Resources (PNM) came out with quarterly earnings of $0.41 per share, missing the Zacks Consensus Estimate of $0.68 per share. This compares to earnings of $0.55 per share a year ago.

PNM Resources (PNM) Q1 Earnings and Revenues Lag Estimates

2024 Ongoing Earnings Guidance Affirmed 2024 first quarter GAAP earnings of $0.52 per diluted share 2024 first quarter ongoing earnings of $0.41 per diluted share Affirmed ongoing earnings guidance range of $2.65 - $2.75 ALBUQUERQUE, N.M. , April 30, 2024 /PRNewswire/ --  PNM Resources (In millions, except EPS) Q1 2024 Q1 2023 GAAP net earnings attributable to PNM Resources $47.2 $55.0 GAAP diluted EPS $0.52 $0.64 Ongoing net earnings $37.0 $47.6 Ongoing diluted EPS $0.41 $0.55 PNM Resources (NYSE: PNM) today released its 2024 first quarter results.

News for PNM Resources Stock (PNM)