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PNM Resources' (PNM) 2020 Earnings and Revenues Up Y/Y

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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.

PNM Resources, Inc. Price, Consensus and EPS Surprise

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%.

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