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PNM Resources' (PNM) Earnings Meet Estimates in Q4, Up Y/Y

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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.

Total Revenues

The company generated Electric Operating revenues of $1.46 billion in 2019, up 1.5% from $1.43 billion in 2018.

PNM Resources, Inc. (Holding Co.) Price, Consensus and EPS Surprise

 

PNM Resources, Inc. (Holding Co.) Price, Consensus and EPS Surprise

PNM Resources, Inc. (Holding Co.) price-consensus-eps-surprise-chart | PNM Resources, Inc. (Holding Co.) Quote

 

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.

Guidance

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.

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 Releases

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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