PNM Resources (PNM) to Report Q3 Earnings: What's in Store?
PNM Resources Inc. PNM is scheduled to release third-quarter 2023 earnings on Oct 27 before market open. In the last reported quarter, the company reported a positive earnings surprise of 10%.
Factors to Note
Higher temperatures and economic development in its service areas during the quarter are expected to have boosted the results. The new transmission rates and increased demand for medium-sized transmissions from oil and gas load will further add to its performance in the third quarter.
PNM Resources’ third-quarter earnings are likely to have benefited from the continued demand-based growth from its TNMP segment. The company is expected to have benefited from new solar and storage added to its portfolio.
Q3 Expectations
The Zacks Consensus Estimate for PNM Resources earnings is pegged at $1.30 per share, implying a year-over-year decrease of 11%. The consensus mark for revenues is pinned at $908.5 million, indicating a decline of 24.5% year over year.
The Zacks Consensus Estimate for PNM Electric and TNMP Electric’s total revenues is pegged at $706 million and $203 million, respectively.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for PNM Resources this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not the case here as you will see below.
PNM Resources, Inc. Price and EPS Surprise
PNM Resources, Inc. price-eps-surprise | PNM Resources, Inc. Quote
Earnings ESP: The company’s Earnings ESP is 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, PNM carries a Zacks Rank #2.
Stocks to Consider
Investors can consider the following players from the same industry that have the right combination of elements to post an earnings beat for the to-be-reported quarter.
Pinnacle West Capital Corp. PNW is set to post third-quarter 2023 figures on Nov 2, before market open. It has an Earnings ESP of +0.15% and presently carries a Zacks Rank of 2. You can see the complete list of today's Zacks #1 Rank stocks here.
NiSource Inc. NI is set to report third-quarter 2023 results on Nov 1, before market open. It has an Earnings ESP of +18.52% and a Zacks Rank of 3 at present.
TransAlta Corp. TAC is slated to release third-quarter 2023 numbers on Nov 7, before market open. It has an Earnings ESP of +15.39% and carries a Zacks Rank of 3 at present.
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NiSource, Inc (NI) : Free Stock Analysis Report
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PNM Resources, Inc. (PNM) : Free Stock Analysis Report
