PNM Resources, Inc. Stock Price, News & Analysis

The Board of Directors of Public Service Company of New Mexico, a subsidiary of PNM Resources (NYSE: PNM), has declared a quarterly dividend of $1.145 per share on the 4.58% series of cumulative preferred stock. The dividend is payable on October 15, 2022, to shareholders of record by the close of business on September 30, 2022. PNM Resources reported consolidated operating revenues of $1.8 billion in 2021, serving approximately 800,000 customers in New Mexico and Texas.

PNM Resources (NYSE: PNM) will confirm its earnings guidance during upcoming meetings with analysts in Minneapolis and Chicago. The company projects 2022 consolidated earnings of $2.50 to $2.60 per diluted share, and for 2023, it expects between $2.60 and $2.75 per diluted share. With 2021 revenues at $1.8 billion, PNM Resources provides electricity to approximately 800,000 customers in New Mexico and Texas, targeting 100% emissions-free energy by 2040.

PNM Resources (NYSE: PNM) declared a quarterly dividend of $0.3475 per share, payable on August 31, 2022, to shareholders of record by August 17, 2022. The company, based in Albuquerque, N.M., reported preliminary consolidated operating revenues of $1.8 billion for 2021 and serves approximately 800,000 customers in New Mexico and Texas. PNM Resources aims for 100% emissions-free energy by 2040, operating with a capacity of 3.1 gigawatts.

PNM Resources reported Q2 2022 GAAP earnings of $0.18 per diluted share and ongoing earnings of $0.57 per diluted share. The company affirmed ongoing earnings guidance of $2.50-$2.60 for 2022 and $2.60-$2.75 for 2023. Notable performance was seen in the TNMP segment, driven by load growth and favorable weather. However, PNM's results were impacted by unrealized losses on investments totaling $39.0 million. The ongoing merger with AVANGRID is awaiting a court decision, with oral arguments requested by August 5, 2022.

PNM Resources (NYSE: PNM) will release its 2022 second quarter financial results on August 4, 2022, before market opening. A live conference call will follow at 11 a.m. Eastern Time to discuss results and company updates. The press release and presentation materials will be available on www.PNMResources.com. PNM Resources serves approximately 800,000 customers in New Mexico and Texas with a total generation capacity of 3.1 gigawatts, aiming for 100% emissions-free energy by 2040.

The New Mexico Public Regulation Commission (NMPRC) has mandated the Public Service Company of New Mexico (PNM) to issue rate credits due to the retirement of the San Juan Generating Station. This order results in a pre-tax revenue reduction of approximately $128 million over 2022 and 2023, limiting PNM's capacity to recover costs necessary for transitioning to carbon-free energy. PNM plans to appeal the order, which it views as detrimental to its operations, especially since it has deferred rate increases for customer benefit since 2020.

The New Mexico Public Regulation Commission's (NMPRC) Recommended Decision imposes penalties on Public Service Company of New Mexico (PNM) for the retirement of the San Juan Generating Station, undermining the Energy Transition Act. This decision mandates an immediate rate reduction for customers, limiting PNM's cost recovery associated with transitioning to carbon-free energy, potentially resulting in a $130 million reduction in pre-tax revenue. The planned general rate review is set for December 2022, with new base rates expected in January 2024, after significant deferrals of rate implementation since 2020.

The Board of Directors of PNM Resources declared a quarterly dividend of $1.145 per share on the 4.58% series of cumulative preferred stock. This dividend is scheduled for payment on July 15, 2022, to shareholders on record as of the close of business on July 1, 2022. PNM Resources, which operates electricity services across New Mexico and Texas, reported $1.8 billion in consolidated revenues for 2021 and aims for 100% emissions-free energy by 2040.

PNM Resources (NYSE: PNM) is set to affirm its 2022 and 2023 consolidated earnings guidance during meetings with analysts and investors in New York. Expected earnings per diluted share are between $2.50 to $2.60 for 2022, and $2.60 to $2.75 for 2023. In 2021, the company reported consolidated revenues of $1.8 billion. With a commitment to providing electricity to about 800,000 customers in New Mexico and Texas, PNM is aiming for 100% emissions-free energy by 2040.