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.

PNM Resources' (PNM) first-quarter results are expected to benefit from increased load growth and higher transmission margins. However, still high interest rates might have negatively impacted earnings.

What's in the Cards for PNM Resources (PNM) This Earnings Season?

PNM Resources has medium term EPS growth potential given its expected growth in its regulated rate base. Given PNM Resources has fairly high leverage, the company doesn't have as much financial flexibility while maintaining investment grade credit rating if it needs to spend more. I rate PNM Resources a 'Buy' and I would own it in a diversified portfolio.

PNM Resources: Medium Term Growth Potential But Less Financial Flexibility

ALBUQUERQUE, N.M., April 4, 2024 /PRNewswire/ -- PNM Resources will announce first quarter 2024 financial results prior to the market opening on Tuesday, April 30, 2024.

PNM Resources to Announce 2024 First Quarter Earnings on April 30

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

Why Is PNM Resources (PNM) Up 0.6% Since Last Earnings Report?

ALBUQUERQUE, N.M., March 4, 2024 /PRNewswire/ -- PNM Resources (NYSE: PNM) management will meet with analysts and investors this week at the Bank of America conference in New York City.

PNM Resources Management to Meet with Investors 2024 ongoing earnings guidance to be affirmed during meetings

ALBUQUERQUE, N.M. , Feb. 27, 2024 /PRNewswire/ -- PNM Resources (NYSE: PNM) has completed the sale of its 50% ownership interest in its renewable joint venture, New Mexico Renewable Development, LLC (NMRD) to Exus North America Holdings, LLC.

PNM Resources Completes Sale of Renewable Joint Venture

PNM Resources, Inc. (PNM) Q4 2023 Earnings Call Transcript

PNM Resources' (PNM) fourth-quarter 2023 earnings increase year over year. However, revenues for 2023 decrease from the year-ago level.

PNM Resources (PNM) Q4 Earnings Top, Full-Year Revenues Fall

PNM Resources (PNM) came out with quarterly earnings of $0.18 per share, beating the Zacks Consensus Estimate of $0.15 per share. This compares to earnings of $0.15 per share a year ago.

PNM Resources (PNM) Q4 Earnings Top Estimates

Conference call at 11 a.m. Eastern today 2023 GAAP earnings of $1.02 per diluted share 2023 ongoing earnings of $2.82 per diluted share 2024 ongoing earnings guidance range of $2.65 - $2.75 per diluted share ALBUQUERQUE, N.M.

PNM Resources Reports 2023 Results and Introduces 2024 Earnings Guidance

PNM Resources' (PNM) Q4 earnings are expected to have been adversely impacted by lower transmission margins, higher interest expenses and lower fixed income.

What's in Store for PNM Resources (PNM) in Q4 Earnings?

Apogee Enterprises

Enterprise Products Partners

Fastenal

Franklin Electric

Graham Holdings

Alliant Energy

Lamb Weston Hlds

Schwab US Dividend Equity ETF

The article provides a list of upcoming dividend increases from companies with a consistent dividend growth history.

9 Upcoming Dividend Increases

Middlesex Water

The most oversold stocks in the utilities sector presents an opportunity to buy into undervalued companies.

Top 2 Utilities Stocks That Could Blast Off In January - Middlesex Water (NASDAQ:MSEX), PNM Resources (NYSE:PNM)

ALBUQUERQUE, N.M. , Jan. 4, 2024 /PRNewswire/ -- The New Mexico Public Regulation Commission (NMPRC) issued an order in the application for a 2024 change in customer base rates by Public Service Company of New Mexico (PNM), a wholly-owned subsidiary of PNM Resources (NYSE: PNM).

NMPRC Issues Decision in PNM Rate Review

Avangrid

Avangrid, the US division of Spanish energy company Iberdrola, announced on Tuesday it has terminated an agreement to acquire New Mexico-based electricity provider PNM Resources after the companies failed to win New Mexico regulatory approval.   The agreement, first announced in October 2020, would have given PNM an $8.3 billion enterprise value and created the third largest US renewables company with operations in 24 states.

Avangrid ends $8B deal to acquire PNM Resources; cites regulatory hurdle

PNM Resources Inc.'s stock PNM, -0.07% was down by 7.8% in premarket trading on Tuesday after Avangrid Inc. AGR, -1.10% said it would not complete a 2020 deal to buy PNM for $4.2 billion. Avangrid, which is majority-owned by Spain's Iberdrola SA IBE, -0.21%, said it was unable to obtain all final regulatory approvals by Dec. 31 and so it terminated the deal.

PNM's stock drops in premarket after Iberdrola's Avangrid terminates $4.3B merger

Iberdrola SA

Iberdrola's U.S. unit Avangrid Inc terminated its $8.3 billion deal, including debt, for rival PNM Resources as it could not get all necessary regulatory approvals to close by Dec. 31, the U.S. power utility said in a statement on Tuesday.

Iberdrola's Avangrid terminates $8.3 bln deal to buy PNM Resources

ORANGE, Conn.--(BUSINESS WIRE)--AVANGRID, Inc. (NYSE: AGR), a leading sustainable energy company and member of the Iberdrola Group, issued the following statement today on the previously announced merger agreement with PNM Resources, Inc. (PNM). “Since 2020, Avangrid, a national leader in clean energy, has fought to gain approval of its merger with PNM, a merger that would bring over $300 million in benefits to PNM consumers and communities and utilize the company's vast experience, and the exp.

Avangrid Statement on PNM Resources, Inc. Merger

ALBUQUERQUE, N.M. , Jan. 2, 2024 /PRNewswire/ -- PNM Resources (NYSE: PNM) announces the termination of its merger agreement with Avangrid.

PNM Resources Announces Avangrid Termination of Merger Agreement, Schedules Financial Update

PNM Resources (PNM) and American Electric Power inked a deal to divest around 50% stake each in New Mexico Renewable Development, LLC for $230 million.

PNM Resources (PNM) to Sell Renewable Joint Venture for $230M

ALBUQUERQUE, N.M., Dec. 26, 2023 /PRNewswire/ -- PNM Resources (NYSE: PNM) has entered into an agreement to sell its 50% ownership interest in its renewable joint venture, New Mexico Renewable Development, LLC (NMRD) to Exus North America Holdings, LLC.

PNM Resources Announces Sale of Renewable Joint Venture

PNM Resources (PNM) continues to perform steadily and is generating stable cash flows, enabling it to increase dividend rates and reward its shareholders.

PNM Resources (PNM) Raises Annual Dividend Rate by 5.4%

PNM Resources and Public Service Company of New Mexico Declare Quarterly Dividends ALBUQUERQUE, N.M., Dec. 5, 2023 /PRNewswire/ -- The Board of Directors of PNM Resources (NYSE: PNM) today voted to increase the company's annual dividend payment by $0.08, a 5.4% increase, to an indicated annual rate of $1.55 per share of common stock.

PNM Resources Increases Common Dividend 5.4%

MGE Energy

Investors looking for stocks in the Utility - Electric Power sector might want to consider either PNM Resources (PNM) or MGE (MGEE). But which of these two stocks is more attractive to value investors?

PNM vs. MGEE: Which Stock Is the Better Value Option?

Investors interested in stocks from the Utility - Electric Power sector have probably already heard of PNM Resources (PNM) and MGE (MGEE). But which of these two companies is the best option for those looking for undervalued stocks?

News for PNM Resources Stock (PNM)