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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.
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 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.