PNM Resources Q2 2020 Earnings Report
Key Takeaways
PNM Resources released the company's 2020 second quarter results, affirming its 2020 consolidated ongoing earnings guidance of $2.16 to $2.26 per diluted share. Warmer temperatures during the second quarter outweighed the reduced load impacts related to COVID-19.
PNM is committed to ESG principles and shared recent achievements in these areas, including additional environmental goals that frame the company’s path to emissions-free energy by 2040 and significant reductions in the usage of freshwater.
Management highlighted investment programs that are aligned with these principles, including the recently announced Wired for the Future program to enhance transmission and distribution infrastructure to provide a reliable, resilient and secure energy grid to deliver clean energy.
PNM is taking a broad view with investments that focus on strengthening our infrastructure to support the transformation to a 100% clean energy portfolio.
The New Mexico Public Regulation Commission issued an order this week on the replacement power for the San Juan Generating Station, which has been approved for abandonment in 2022, supporting PNM’s clean energy goals with a portfolio of renewable energy resources and battery storage.
PNM Resources
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PNM Resources Revenue by Segment
Forward Guidance
Management affirmed its 2020 consolidated ongoing earnings guidance of $2.16 to $2.26 per diluted share, targeting the midpoint of this range.
Revenue & Expenses
Visualization of income flow from segment revenue to net income