Loading...
•
Mar 31, 2020
PNM Resources Q1 2020 Earnings Report
PNM Resources' first quarter results were released, showing the early stages of COVID-19 impacts.
Key Takeaways
PNM Resources reported GAAP net earnings attributable to PNM Resources of ($15.3) million, or ($0.19) per diluted share, compared to $18.7 million, or $0.23 per diluted share in Q1 2019. Ongoing net earnings were $14.2 million, or $0.18 per diluted share, compared to $9.0 million, or $0.11 per diluted share in Q1 2019. Management affirmed its 2020 consolidated ongoing earnings guidance of $2.16 to $2.26 per diluted share.
PNM total weather-normalized retail load grew 1.1% in March 2020 compared to the prior year.
At TNMP, weather-normalized demand-based load increased 3.8% in March 2020 compared to the prior year.
PNM Resources consolidated liquidity remains adequate for its anticipated financing needs, with $818.9 million of available liquidity at April 10, 2020.
On April 1, 2020, the New Mexico Public Regulation Commission approved PNM’s application for abandonment and securitization of the San Juan Generating Station.
Forward Guidance
Management affirmed its 2020 consolidated ongoing earnings guidance of $2.16 to $2.26 per diluted share.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...