ALBUQUERQUE, N.M. (AP) _ PNM Resources Inc. (PNM) on Tuesday reported first-quarter profit of $18.7 million.
The Albuquerque, New Mexico-based company said it had profit of 23 cents per share. Earnings, adjusted for non-recurring gains, came to 13 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 10 cents per share.
The power company posted revenue of $349.6 million in the period.
PNM Resources expects full-year earnings in the range of $2.10 to $2.20 per share.
PNM Resources shares have climbed 15% since the beginning of the year. The stock has increased 18% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PNM at https://www.zacks.com/ap/PNM