PNM Resources (PNM - Free Report) reported third-quarter 2019 earnings of $1.29 per share, beating the Zacks Consensus Estimate of $1.26 by 2.4%. The bottom line increased 19.4% from year-ago quarter’s figure of $1.08. The uptick can be attributed to higher-than-normal temperatures that increased customer usage.
Total Revenues
The company generated total revenues of $433.6 million in third-quarter 2019, up 2.6% from $423 million in the year-ago quarter.
Highlights of the Release
Total expenses in the reported quarter amounted to $293 million, down 0.7% from the year-ago quarter’s expenses of $295 million.
Operating income in the reported quarter was $140.5 million, up 9.7% from operating income of $128 million in the year-ago quarter.
Guidance
The company affirmed its 2019 consolidated earnings per share guidance in the range of $2.05-$2.11, whose midpoint $2.08 is lower than Zacks Consensus Estimate of $2.09.
Zacks Rank
PNM Resources carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Utility Releases
NextEra Energy, Inc (NEE - Free Report) reported third-quarter 2019 adjusted earnings of $2.39 per share, beating the Zacks Consensus Estimate of $2.27 by 5.3%.
Xcel Energy Inc (XEL - Free Report) posted third-quarter 2019 operating earnings of $1.01 per share, which lagged the Zacks Consensus Estimate of $1.05 by 3.8%.
American Electric Power Co., Inc (AEP - Free Report) reported third-quarter 2019 adjusted earnings of $1.46 per share, which surpassed the Zacks Consensus Estimate of $1.30 by 12.3%.
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PNM Resources (PNM - Free Report) reported third-quarter 2019 earnings of $1.29 per share, beating the Zacks Consensus Estimate of $1.26 by 2.4%. The bottom line increased 19.4% from year-ago quarter’s figure of $1.08. The uptick can be attributed to higher-than-normal temperatures that increased customer usage.
Total Revenues
The company generated total revenues of $433.6 million in third-quarter 2019, up 2.6% from $423 million in the year-ago quarter.
Highlights of the Release
Total expenses in the reported quarter amounted to $293 million, down 0.7% from the year-ago quarter’s expenses of $295 million.
Operating income in the reported quarter was $140.5 million, up 9.7% from operating income of $128 million in the year-ago quarter.
Guidance
The company affirmed its 2019 consolidated earnings per share guidance in the range of $2.05-$2.11, whose midpoint $2.08 is lower than Zacks Consensus Estimate of $2.09.
Zacks Rank
PNM Resources carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Utility Releases
NextEra Energy, Inc (NEE - Free Report) reported third-quarter 2019 adjusted earnings of $2.39 per share, beating the Zacks Consensus Estimate of $2.27 by 5.3%.
Xcel Energy Inc (XEL - Free Report) posted third-quarter 2019 operating earnings of $1.01 per share, which lagged the Zacks Consensus Estimate of $1.05 by 3.8%.
American Electric Power Co., Inc (AEP - Free Report) reported third-quarter 2019 adjusted earnings of $1.46 per share, which surpassed the Zacks Consensus Estimate of $1.30 by 12.3%.
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers “Most Likely for Early Price Pops.”
Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.5% per year. So be sure to give these hand-picked 7 your immediate attention.
See them 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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