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PNM Resources: Q3 Earnings Insights

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Benzinga Insights
·1 min read
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Shares of PNM Resources (NYSE:PNM) were unchanged after the company reported Q3 results.

Quarterly Results

Earnings per share were up 8.53% over the past year to $1.40, which beat the estimate of $1.26.

Revenue of $472,465,000 higher by 8.97% year over year, which missed the estimate of $529,430,000.

Looking Ahead

The upcoming fiscal year's EPS expected to be between $2.23 and $2.31.

Conference Call Details

Date: Oct 30, 2020

View more earnings on PNM

Time: 11:00 AM

ET Webcast URL: https://78449.choruscall.com/dataconf/productusers/pnm/mediaframe/41023/indexr.html

Technicals

Company's 52-week high was at $56.14

52-week low: $27.08

Price action over last quarter: Up 18.96%

Company Description

PNM Resources Inc, or PNMR, is a holding company that owns regulated utilities companies providing electricity and electric services. PNMR segments its operations by its two subsidiaries, PNM and TNMP. PNM provides electric generation, transmission, and distribution services mainly to areas of New Mexico. While PNM uses a variety of fuel sources across its power plant portfolio, its coal and gas-fueled sites produce most of the energy. TNMP owns and operates transmission and distribution services primarily in small to medium-sized communities in Texas. Both subsidiaries generate revenue for PNMR through the sale of electricity and transmission service fees fairly evenly split between residential and commercial customers. PNM generates the vast majority of PNMR's total revenue.

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