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Dec 31, 2024
PNM Resources Q4 2024 Earnings Report
TXNM Energy reported mixed financial results with a decline in revenue but strong earnings growth in Q4 2024.
Key Takeaways
TXNM Energy posted $476.96M in revenue, reflecting a slight YoY decline, while net income improved to $15.71M. The company increased its capital investment plan by 26% to $7.8B and reaffirmed its commitment to grid expansion and reliability projects.
Revenue decreased by 2.35% YoY to $476.96M.
Net income improved to $15.71M from a loss of $50.23M last year.
Operating margin increased significantly to 23.01%, reflecting cost efficiencies.
Company expanded its 5-year investment plan by 26% to $7.8B.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
TXNM Energy expects continued EPS growth of 7%-9% and has reaffirmed its 2025 ongoing earnings guidance of $2.74 - $2.84 per share.
Positive Outlook
- Ongoing EPS guidance for 2025 set at $2.74 - $2.84.
- 5-year capital investment plan increased to $7.8B.
- Regulated rate base projected to grow 12% by 2025.
- Strong Texas grid expansion projects under ERCOT plan.
- Mid-year implementation of PNM rate adjustments to boost revenue.
Challenges Ahead
- Revenue declined slightly YoY in Q4 2024.
- Higher interest rates increased financing costs.
- Milder summer temperatures impacted energy demand.
- Ongoing losses in corporate and other segment.
- Regulatory uncertainties in rate adjustments for New Mexico customers.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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