PNM Resources PNM reported fourth-quarter 2019 earnings of 36 cents per share, which were in line with the Zacks Consensus Estimate. The bottom line increased 100% from year-ago quarter’s figure of 18 cents.
In 2019, the company reported earnings of $2.16 per share compared with $2 in 2018. The year-over-year increase was attributed to the company’s ability to respond and adapt business operations to changing conditions.
The company generated Electric Operating revenues of $1.46 billion in 2019, up 1.5% from $1.43 billion in 2018.
Highlights of the Release
Total operating expenses in 2019 amounted to $1.3 billion, up 9.4% from expenses of $1.2 billion in 2018.
Operating income in 2019 was $144 million, down by 39% from $236 million in 2018.
In 2019, New Mexico’s Energy Transition Act established new RPS and 2045 carbon-free mandate.
The company affirmed its 2020 consolidated earnings per share (EPS) guidance in the range of $2.16-$2.26, whose midpoint of $2.21 is in line with the Zacks Consensus Estimate.
PNM Resources carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
NextEra Energy, Inc. NEE reported fourth-quarter 2019 adjusted earnings of $1.44 per share, which lagged the Zacks Consensus Estimate of $1.54 by 6.5%.
FirstEnergy Corporation FE reported fourth-quarter 2019 operating earnings of 55 cents per share, which beat the Zacks Consensus Estimate of 48 cents by 14.6%.
WEC Energy Group WEC came up with fourth-quarter 2019 adjusted EPS of 77 cents, which beat the Zacks Consensus Estimate of 72 cents by 6.9%.
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