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PNM Resources
🇺🇸 NYSE:TXNM
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Jun 30, 2024

PNM Resources Q2 2024 Earnings Report

PNM Resources reported mixed results for Q2 2024, with GAAP EPS remaining flat and ongoing EPS increasing slightly. The company affirmed its 2024 ongoing earnings guidance and announced a name change to TXNM Energy.

Key Takeaways

PNM Resources reported GAAP earnings of $0.53 per diluted share for the second quarter of 2024, the same as the second quarter of 2023. Ongoing earnings were $0.60 per diluted share, compared to $0.55 in the prior year. Management affirmed its 2024 consolidated ongoing earnings guidance of $2.65 to $2.75 per diluted share. The company also announced it is changing its name to TXNM Energy, expected to be effective August 5, 2024.

Second quarter GAAP earnings were $0.53 per diluted share.

Second quarter ongoing earnings were $0.60 per diluted share.

Ongoing earnings guidance range of $2.65 - $2.75 was affirmed.

Name change to TXNM Energy, trading under TXNM ticker is expected August 5, 2024.

Total Revenue
$488M
Previous year: $477M
+2.3%
EPS
$0.6
Previous year: $0.55
+9.1%
Gross Profit
$189M
Previous year: $182M
+4.3%
Cash and Equivalents
$3.24M
Previous year: $7.64M
-57.7%
Total Assets
$10.6B
Previous year: $9.63B
+9.9%

PNM Resources

PNM Resources

Forward Guidance

Management affirmed its 2024 consolidated ongoing earnings guidance of $2.65 to $2.75 per diluted share.

Company Overview

Full financial data and analysis

View PNM Resources