PNM Resources (PNM - Free Report) reported 2020 earnings of $2.28 per share, increasing 5.6% from the year-ago figure.
GAAP earnings for 2020 were $2.15 per share compared with 97 cents in 2019.
Total Revenues
Operating revenues for 2020 of $1,523.1 million were up 4.5% from $1,457.6 million in 2019.
Highlights of the Release
Total operating expenses for the year under review summed $1,237.7 million, down 5.8% from $1,313.4 million in 2019.
Operating income for 2020 was $285.3 million, up 97.8% from $144.2 million in 2019.
PNM Resources and AVANGRID have entered into a merger agreement. This merger, which is anticipated to close in second-half 2021, will create a utility with more than 7.4 gigawatts of renewable energy assets.
Guidance
The company reaffirmed its 2021 earnings per share guidance in the range of $2.27-$2.37, the midpoint of which is $2.32, higher than the Zacks Consensus Estimate of $2.28.
It is focused on strengthening its infrastructure and plans to invest $3.96 billion in the 2021-2025 time period for the same.
Zacks Rank
PNM Resources currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Releases
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Xcel Energy Inc. (XEL - Free Report) posted fourth-quarter 2020 operating earnings of 54 cents per share, in line with the Zacks Consensus Estimate.
Evergy, Inc. (EVRG - Free Report) reported fourth-quarter 2020 operating earnings of 28 cents per share, which surpassed the Zacks Consensus Estimate of 20 cents by 40%.
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PNM Resources (PNM - Free Report) reported 2020 earnings of $2.28 per share, increasing 5.6% from the year-ago figure.
GAAP earnings for 2020 were $2.15 per share compared with 97 cents in 2019.
Total Revenues
Operating revenues for 2020 of $1,523.1 million were up 4.5% from $1,457.6 million in 2019.
Highlights of the Release
Total operating expenses for the year under review summed $1,237.7 million, down 5.8% from $1,313.4 million in 2019.
Operating income for 2020 was $285.3 million, up 97.8% from $144.2 million in 2019.
PNM Resources and AVANGRID have entered into a merger agreement. This merger, which is anticipated to close in second-half 2021, will create a utility with more than 7.4 gigawatts of renewable energy assets.
Guidance
The company reaffirmed its 2021 earnings per share guidance in the range of $2.27-$2.37, the midpoint of which is $2.32, higher than the Zacks Consensus Estimate of $2.28.
It is focused on strengthening its infrastructure and plans to invest $3.96 billion in the 2021-2025 time period for the same.
Zacks Rank
PNM Resources currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Releases
Exelon Corporation’s (EXC - Free Report) fourth-quarter 2020 operating earnings of 76 cents per share surpassed the Zacks Consensus Estimate of 71 cents by 7%.
Xcel Energy Inc. (XEL - Free Report) posted fourth-quarter 2020 operating earnings of 54 cents per share, in line with the Zacks Consensus Estimate.
Evergy, Inc. (EVRG - Free Report) reported fourth-quarter 2020 operating earnings of 28 cents per share, which surpassed the Zacks Consensus Estimate of 20 cents by 40%.
Just Released: Zacks’ 7 Best Stocks for Today
Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.9% per year.
These 7 were selected because of their superior potential for immediate breakout.
See these time-sensitive tickers now >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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