Welcome to our dedicated page for PNM Resources news (Ticker: PNM), a resource for investors and traders seeking the latest updates and insights on PNM Resources stock.
PNM Resources, Inc. (PNM) is a leading energy holding company providing electricity services through regulated utilities in New Mexico and Texas. This page aggregates official news releases, financial reports, and operational updates directly from the company and trusted sources.
Investors and stakeholders will find timely updates on earnings announcements, regulatory filings, and infrastructure investments, including grid modernization initiatives and renewable energy projects. The curated content supports informed decision-making by tracking PNM's compliance with energy regulations and strategic responses to market conditions.
Key updates include quarterly financial results, rate case decisions, system resiliency plans, and sustainability efforts. All content is verified for accuracy and updated regularly to reflect the company's latest developments.
Bookmark this page for streamlined access to PNM Resources' evolving position in the energy sector. Check back frequently for authoritative updates on operational milestones and regulatory engagements.
Public Service Company of New Mexico, a subsidiary of PNM Resources (NYSE: PNM), has announced a regular quarterly dividend of $1.145 per share on its 4.58% series of cumulative preferred stock. The dividend is set to be paid on July 15, 2024, to shareholders on record as of June 28, 2024.
PNM Resources, an energy holding company based in Albuquerque, NM, reported consolidated operating revenues of $1.9 billion for 2023. The company provides electricity to over 800,000 homes and businesses in New Mexico and Texas through its regulated utilities, PNM and TNMP. PNM's energy generation capacity stands at 3.3 gigawatts, with an ambitious goal of achieving 100% emissions-free generation by 2040.
PNM Resources (NYSE: PNM) management will meet with analysts and investors at the RBC Capital Markets Global Energy, Power and Infrastructure Conference in New York City this week. During these meetings, the company will affirm its 2024 consolidated earnings guidance, projected at $2.65 to $2.75 per diluted share. In 2023, PNM Resources reported consolidated operating revenues of $1.9 billion. The company, through its regulated utilities PNM and TNMP, provides electricity to over 800,000 homes and businesses in New Mexico and Texas. PNM's power generation capacity stands at 3.3 gigawatts, and the company aims to achieve 100% emissions-free generation by 2040.
PNM Resources (NYSE: PNM) announced a private offering of $500 million in junior subordinated convertible notes due 2054 to qualified institutional buyers. The notes may potentially increase by an additional $50 million for over-allotments. These unsecured notes rank junior to existing senior debt and may defer interest payments for up to 20 semi-annual periods. Redemption is possible post-June 2029, under specific conditions, and holders can convert the notes into common stock or cash. Proceeds will be used to repay term loans, and the offering is not registered under the Securities Act.
The New Mexico Public Regulation Commission (NMPRC) has approved Public Service Company of New Mexico's (PNM) application for new energy resources, adding 410 megawatts of solar and battery storage capacity by summer 2026. This move aims to meet growing retail demand, with PNM's peak demand hitting record highs in the summers of 2022 and 2023.
PNM's approved resources include 100 megawatts of solar and 310 megawatts of battery storage. This integration will help PNM achieve 75% carbon-free resource capacity by 2026. PNM Resources reported consolidated operating revenues of $1.9 billion in 2023 and serves over 800,000 customers in New Mexico and Texas.
The initiative aligns with PNM's pledge to reach 100% carbon-free energy by 2040. Additional details and materials are available on the PNM Resources website.
PNM Resources reported first quarter 2024 results with GAAP earnings of $0.52 per diluted share and ongoing earnings of $0.41 per diluted share. The company affirmed its ongoing earnings guidance of $2.65 to $2.75 per diluted share for 2024. The quarterly results exceeded expectations, driven by progress on strategic goals. Segment reporting showed positive performance in PNM and TNMP. Factors affecting earnings included new retail rates, higher market prices, and new capital investments. GAAP earnings in Q1 2024 included gains from the sale of New Mexico Renewable Development.
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