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PNM Resources(PNM) - 2024 Q2 - Quarterly Results
2024-07-31 11:05
Exhibit 99.1 ALBUQUERQUE, N.M. July 31, 2024 | | Q2 2024 | Q2 2023 | YTD 2024 | YTD 2023 | | --- | --- | --- | --- | --- | | GAAP net earnings attributable to | | | | | | PNM Resources | $48.0 | $45.3 | $95.2 | $100.3 | | GAAP diluted EPS | $0.53 | $0.53 | $1.05 | $1.16 | | Ongoing net earnings | $54.3 | $47.4 | $91.3 | $95.1 | | Ongoing diluted EPS | $0.60 | $0.55 | $1.01 | $1.10 | PNM Resources (NYSE: PNM) today released its 2024 second quarter results. In addition, management affirmed its 2024 consolidat ...
PNM Resources Reports Second Quarter 2024 Results
Prnewswire· 2024-07-31 10:30
| --- | --- | --- | --- | --- | |----------------------------|---------|------------------------------|-----------|-------------------------------| | | Q2 2024 | GAAP Diluted EPS \n Q2 2023 | \nQ2 2024 | Ongoing Diluted EPS \nQ2 2023 | | PNM | $0.34 | $0.36 | $0.41 | $0.38 | | TNMP | $0.33 | $0.29 | $0.33 | $0.29 | | Corporate and Other | ($0.14) | ($0.12) | ($0.14) | ($0.12) | | Consolidated PNM Resources | $0.53 | $0.53 | $0.60 | $0.55 | Net changes to GAAP and ongoing earnings in the second quarter of 20 ...
PNM Resources (NYSE: PNM) Transitions to TXNM Energy (NYSE: TXNM) with Trading Effective on August 5
Prnewswire· 2024-07-22 10:30
ALBUQUERQUE, N.M., July 22, 2024 /PRNewswire/ -- PNM Resources, Inc. (NYSE: PNM) is expecting to complete the change of its holding company name to TXNM Energy, Inc. (NYSE: TXNM), effective at 5:00pm ET on August 2, 2024. Trading under the new name and TXNM ticker is expected to begin on Monday, August 5, 2024. The change was overwhelmingly approved by shareholders at its annual meeting on June 4, 2024, and by the PNM Resources Board of Directors. There are no changes to the names of PNM or TNMP, wholly own ...
PNM Resources Board Declares Quarterly Common Stock Dividend
Prnewswire· 2024-07-16 20:30
CONTACTS: Analysts Media Lisa Goodman Raymond Sandoval (505) 241-2160 (505) 241-2782 SOURCE PNM Resources, Inc. ALBUQUERQUE, N.M., July 16, 2024 /PRNewswire/ -- At its regular meeting held today, the Board of Directors of PNM Resources (NYSE: PNM) declared the regular quarterly dividend of $0.3875 per share on the company's common stock. The dividend is payable August 9, 2024, to shareholders of record at the close of business July 26, 2024. PNM Resources (NYSE: PNM) is an energy holding company based in Al ...
PNM Resources to Announce 2024 Second Quarter Earnings on July 31
Prnewswire· 2024-07-08 10:30
ALBUQUERQUE, N.M., July 8, 2024 /PRNewswire/ -- PNM Resources will announce second quarter 2024 financial results prior to the market opening on Wednesday, July 31, 2024. Management will also host a live conference call at 11 a.m. Eastern Time to discuss financial results and other company updates. The press release and accompanying presentation materials for the conference call will be posted on the company website at www.PNMResources.com. CONTACTS: Analysts Media Lisa Goodman Corporate Communications (505 ...
PNM Files 2025 Rate Request
Prnewswire· 2024-06-14 20:15
Phased-In Rate Path Proposed to Mitigate Customer Impact ALBUQUERQUE, N.M., June 14, 2024 /PRNewswire/ -- Public Service Company of New Mexico (PNM), wholly-owned subsidiary of PNM Resources, Inc. (NYSE: PNM), today filed a request for a change in electricity customer rates with the New Mexico Public Regulation Commission (NMPRC) to begin July 1, 2025. The requested change reflects investments in transmission and distribution infrastructure, updated cost of capital and capital structure, battery storage res ...
TNMP Receives Approval for Distribution Investment Recovery
Prnewswire· 2024-06-14 10:30
Group 1 - The Public Utility Commission of Texas approved Texas-New Mexico Power Company's application to recover over $205 million in net distribution infrastructure investments [1] - TNMP's Distribution Cost Recovery Factor application was filed in April 2024, resulting in a $15.7 million annual rate increase effective July 28, 2024 [5] - Legislation from the 2023 Texas session allows for semiannual filings, reducing regulatory lag and supporting robust investment plans for reliable growth in TNMP's service area [6] Group 2 - PNM Resources, Inc. reported consolidated operating revenues of $1.9 billion in 2023 and serves over 800,000 customers in Texas and New Mexico [3] - PNM Resources aims for 100% emissions-free energy by 2040, with a total installed capacity of 3.3 gigawatts [3]
PNM Resources Closes Offering of $500 Million 5.75% Junior Subordinated Convertible Notes due 2054
Prnewswire· 2024-06-10 20:15
Core Viewpoint - PNM Resources has successfully closed an offering of $500 million in 5.75% junior subordinated convertible notes due in 2054, with an option for initial purchasers to buy an additional $50 million for overallotments [1] Group 1: Offering Details - The convertible notes were sold in a private offering to qualified institutional buyers under Rule 144A of the Securities Act [1] - The notes are unsecured obligations and rank junior to existing and future senior indebtedness of PNM Resources [8] - Interest on the convertible notes will be paid semi-annually at a rate of 5.75% per annum, with the option for the company to defer interest payments for up to 20 consecutive semi-annual periods [2][8] Group 2: Conversion Rights - Holders can convert their notes only upon certain events before December 1, 2053, and at any time thereafter until two business days before maturity [3] - Upon conversion, PNM Resources will either issue a new series of non-convertible junior subordinated notes or pay cash, along with delivering shares of common stock for any excess conversion obligation [3][10] Group 3: Repurchase and Redemption Conditions - In the event of a fundamental change, holders may require PNM Resources to repurchase their notes at 100% of the principal amount plus accrued interest [4] - The company may not redeem the notes before June 6, 2029, except under specific tax or rating agency events, and can redeem them at 100% of the principal amount plus accrued interest under certain conditions [9] Group 4: Use of Proceeds - The net proceeds from the offering will be used to repay a portion of PNM Resources' outstanding term loans [11]
PNM Resources Announces Pricing of $500 Million of 5.75% Junior Subordinated Convertible Notes due 2054
Prnewswire· 2024-06-04 23:23
ALBUQUERQUE, N.M., June 4, 2024 /PRNewswire/ -- PNM Resources (NYSE: PNM) today announced the pricing of $500,000,000 in aggregate principal amount of its 5.75% junior subordinated convertible notes due 2054 (the "convertible notes") in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). In addition, PNM Resources granted the initial purchasers of the convertible notes an option to purchase, within a 13-day period be ...
Public Service Company of New Mexico Declares Preferred Dividend
Prnewswire· 2024-06-04 20:15
ALBUQUERQUE, N.M., June 4, 2024 /PRNewswire/ -- The Board of Directors of Public Service Company of New Mexico, a subsidiary of PNM Resources (NYSE: PNM), declared the regular quarterly dividend of $1.145 per share on the 4.58 percent series of cumulative preferred stock. The preferred stock dividend is payable July 15, 2024, to shareholders of record at the close of business June 28, 2024. Background: PNM Resources (NYSE: PNM) is an energy holding company based in Albuquerque, N.M., with 2023 consolidated ...