Pnm Resources ( (TXNM) ) has released its Q4 earnings. Here is a breakdown of the information Pnm Resources presented to its investors.
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TXNM Energy, based in Albuquerque, New Mexico, is a prominent energy holding company that provides energy to over 800,000 homes and businesses in Texas and New Mexico through its regulated utilities, TNMP and PNM.
In its latest earnings report, TXNM Energy announced 2024 GAAP earnings of $2.67 per diluted share and ongoing earnings of $2.74 per diluted share, meeting high-end guidance expectations. The company also introduced a 2025 ongoing earnings guidance range of $2.74 to $2.84 per diluted share, reflecting robust growth in Texas and a phased rate increase for PNM customers.
Key financial highlights include a significant increase in their 5-year capital investment plan to $7.8 billion, a 26% rise from the previous plan, due to additional investments in Texas transmission projects. TXNM Energy aims for a long-term earnings per share growth target of 7% to 9%. In 2024, the company achieved a GAAP net earnings of $242.2 million, a substantial increase from $87.8 million in 2023, primarily driven by improved market performance and increased customer usage in New Mexico.
Looking ahead, TXNM Energy remains committed to enhancing grid reliability and resilience through strategic investments in infrastructure, particularly focusing on expansion in Texas and rate adjustments in New Mexico, promising direct benefits to customers in these regions.
