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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.
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%.
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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.
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PNM Resources' (PNM) 2020 Earnings and Revenues Up Y/Y
PNM Resources 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.
PNM Resources, Inc. Price, Consensus and EPS Surprise
PNM Resources, Inc. price-consensus-eps-surprise-chart | PNM Resources, Inc. Quote
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.
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