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PNM Resources' (PNM) 2020 Earnings and Revenues Up Y/Y

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Zacks Equity Research
·2 min read
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PNM Resources PNM reported 2020 earnings of $2.28 per share, increasing 5.6% from the year-ago figure.

GAAP earnings for 2020 were $2.15 per share compared with 97 cents in 2019.

Total Revenues

Operating revenues for 2020 of $1,523.1 million were up 4.5% from $1,457.6 million in 2019.

PNM Resources, Inc. Price, Consensus and EPS Surprise

PNM Resources, Inc. Price, Consensus and EPS Surprise
PNM Resources, Inc. Price, Consensus and EPS Surprise

PNM Resources, Inc. price-consensus-eps-surprise-chart | PNM Resources, Inc. Quote

Highlights of the Release

Total operating expenses for the year under review summed $1,237.7 million, down 5.8% from $1,313.4 million in 2019.

Operating income for 2020 was $285.3 million, up 97.8% from $144.2 million in 2019.

PNM Resources and AVANGRID have entered into a merger agreement. This merger, which is anticipated to close in second-half 2021, will create a utility with more than 7.4 gigawatts of renewable energy assets.

Guidance

The company reaffirmed its 2021 earnings per share guidance in the range of $2.27-$2.37, the midpoint of which is $2.32, higher than the Zacks Consensus Estimate of $2.28.

It is focused on strengthening its infrastructure and plans to invest $3.96 billion in the 2021-2025 time period for the same.

Zacks Rank

PNM Resources currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Other Releases

Exelon Corporation’s EXC fourth-quarter 2020 operating earnings of 76 cents per share surpassed the Zacks Consensus Estimate of 71 cents by 7%.

Xcel Energy Inc. XEL posted fourth-quarter 2020 operating earnings of 54 cents per share, in line with the Zacks Consensus Estimate.

Evergy, Inc. EVRG reported fourth-quarter 2020 operating earnings of 28 cents per share, which surpassed the Zacks Consensus Estimate of 20 cents by 40%.

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