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PNM Resources Q1 2025 Earnings Report
TXNM Energy reported its first quarter 2025 results, with GAAP diluted earnings per share of $0.10 and ongoing diluted earnings per share of $0.19.
Key Takeaways
TXNM Energy's first quarter 2025 results show a decrease in GAAP net earnings and diluted EPS compared to the previous year, primarily due to net unrealized losses on investment securities and additional shares issued. However, ongoing earnings are on track with full-year expectations, supported by strong growth in TNMP and progress in PNM's rate case.
2025 first quarter GAAP diluted EPS was $0.10.
2025 first quarter ongoing diluted EPS was $0.19.
The company affirmed its 2025 consolidated ongoing earnings guidance range of $2.74 to $2.84 per diluted share.
TXNM Energy maintained its long-term earnings growth target of 7% to 9%.
PNM Resources
PNM Resources
PNM Resources Revenue by Segment
PNM Resources Revenue by Geographic Location
Revenue by Segment
PNM Net Earnings Revenue
CapyFin.comTNMP Net Earnings Revenue
CapyFin.comCorporate and Other Net Earnings Revenue
CapyFin.comRevenue by Geographic Location
New Mexico (PNM) Revenue
CapyFin.comTexas (TNMP) Revenue
CapyFin.com Forward Guidance
TXNM Energy affirmed its 2025 consolidated ongoing earnings guidance range and maintained its long-term earnings growth target.
Positive Outlook
- Affirmed 2025 consolidated ongoing earnings guidance range of $2.74 to $2.84 per diluted share.
- Maintained long-term earnings growth target of 7% to 9%.
- Earnings results in the first quarter are on track with full year expectations.
- TNMP reflects another quarter of strong growth and capital recovery.
- PNM's unopposed rate case stipulation continues to move through the regulatory approval process.
Challenges Ahead
- GAAP and ongoing earnings per share were reduced in the first quarter of 2025 by additional shares issued in December 2024.
- PNM's higher retail load was partially offset by lower weather-related usage.
- PNM experienced lower transmission margins due to market prices.
- PNM saw increased insurance premiums and higher depreciation, property tax, and interest expense.
- Corporate and Other experienced increased interest expense from holding company debt.