PNM Resources PNM reported second-quarter 2022 earnings per share of 57 cents, which beat the Zacks Consensus Estimate of 55 cents by 3.6%. The bottom line also improved by 3.6% from the year-ago earnings of 55 cents per share.
GAAP earnings for the quarter were 18 cents per share, down by 80% from the prior-year quarter’s reading of 62 cents.
Total revenues for the second quarter were $499.7 million, up 17.2% from $426.5 million in the year-ago quarter.
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 reported quarter were $413.3 million, up 17.3% from $352.3 million in the year-ago quarter, due to an increase in the energy production, transmission and distribution costs.
The operating income in the reported quarter improved by 16.4% from the prior-year quarter’s reading to $86.4 million.
PNM Resources and AVANGRID announced the amendment and extension of their merger agreement through Apr 20, 2023. The companies filed the statement of issues in the appeal of the New Mexico Public Regulation Commission decision with the New Mexico Supreme Court.
PNM Resources reaffirmed the 2022 EPS guidance in the range of $2.50-$2.60 and the 2023 EPS guidance in the band of $2.60-$2.75. The midpoint of the above-guided range for 2022 is $2.55, lower than the Zacks Consensus Estimate for 2022 of $2.60 per share. PNM reiterated its four-year investment plan of $3.5 billion for the 2022-2025 period to improve the transmission and distribution infrastructure.
PNM Resources currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Dominion Energy D is scheduled to announce second-quarter 2022 results on Aug 8 before market open. The Zacks Consensus Estimate for earnings is pegged at 77 cents per share. Dominion Energy’s long-term earnings growth is projected at 6.4%.
Hawaiian Electric Industries HE is scheduled to announce second-quarter 2022 results on Aug 8 after market close. The Zacks Consensus Estimate for earnings is pegged at 52 cents per share. Hawaiian Electric Industries’ long-term earnings growth is projected at 3.2%.
Southwest Gas Holdings SWX is set to release second-quarter 2022 results on Aug 9 after market close. The Zacks Consensus Estimate for earnings per share is pegged at 53 cents. Southwest Gas’ long-term earnings growth is projected at 5%.
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