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

Zacks Equity Research

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 and EPS Surprise

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

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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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FirstEnergy Corporation (FE) : Free Stock Analysis Report
 
WEC Energy Group, Inc. (WEC) : Free Stock Analysis Report
 
NextEra Energy, Inc. (NEE) : Free Stock Analysis Report
 
PNM Resources, Inc. (Holding Co.) (PNM) : Free Stock Analysis Report
 
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Zacks Investment Research