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ALBUQUERQUE, N.M., April 10, 2025 /PRNewswire/ -- TXNM Energy, Inc. will announce first quarter 2025 financial results prior to the market opening on Friday, May 9, 2025. 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.TXNMEnergy.com. Investors and analysts can participate in the live conference call by ...

Core Points - The New Mexico Public Regulation Commission (NMPRC) has issued a Certification of Stipulation recommending approval of PNM's 2025 Rate Request application [1] - The stipulation includes a $105.0 million increase in PNM's revenue requirements, based on a 9.45% return on equity and a 51% equity capitalization structure [3] - The rate increase will be phased in, with 50% effective July 1, 2025, and the remaining increase effective April 1, 2026 [2] Company and Industry Details - PNM is a wholly-owned subsidiary of TXNM Energy, which serves over 800,000 homes and businesses across Texas and New Mexico [6] - The current authorized rates for PNM are based on a 9.26% return on equity and a 50% equity capitalization structure [3] - Various parties, including the Utility Division Staff of NMPRC and several community organizations, support the stipulation, while other intervening parties do not oppose it [4]

ALBUQUERQUE, N.M., March 26, 2025 /PRNewswire/ -- TNMP, the wholly-owned Texas subsidiary of TXNM Energy, Inc. (NYSE: TXNM) received approval from the Public Utility Commission of Texas (PUCT) for its recent Transmission Cost of Service (TCOS) application. On March 25, 2025, the Public Utility Commission of Texas (PUCT) approved TNMP's Application for Interim Update of Wholesale Transmission Rates through a TCOS filing. The approved annual rate increase of $11.5 million recovers $83.5 million of incremental ...

Core Viewpoint - The Public Utility Commission of Texas has approved TNMP's 2025-2027 System Resiliency Plan, which involves a significant investment to enhance the reliability and safety of its distribution system [1][2]. Investment and Financials - TNMP plans to invest $545.8 million over three years to address various resiliency events that pose risks to its distribution system [2]. - The costs associated with these investments will be included in future Distribution Cost Recovery Factor filings [4]. Resiliency Measures - The System Resiliency Plan includes eight different Resiliency Measures aimed at improving the system's ability to prevent, withstand, and recover from resiliency events. These measures are: - Distribution System Resiliency - Distribution System Protection Modernization - Vegetation Management - Wildfire Mitigation - Flood Mitigation - Enhanced Operations System Technology - Cybersecurity - Physical Security Resiliency [3]. Company Background - TXNM Energy, the parent company of TNMP, serves over 800,000 homes and businesses across Texas and New Mexico through its regulated utilities [5].

Customer Base and Service Areas - TXNM Energy serves approximately 834,000 customers across New Mexico and Texas, with a focus on maintaining strong and modern electric infrastructure to ensure reliability and support economic growth[24]. - PNM's largest retail electric customer accounted for 4.2% of its retail electric revenues in 2024, with significant revenue contributions from metropolitan areas like Albuquerque and Santa Fe[47]. - TNMP's two largest retail electric providers accounted for 26% and 20% of its operating revenues in 2024, indicating a concentrated revenue base[41]. Load and Demand Trends - TNMP experienced a 1.8% increase in weather-normalized retail load and a 2.4% increase in weather-normalized demand-based load in 2024 compared to 2023, while data center load increased by 13.7%[41]. - PNM's weather-normalized residential load increased by 1.5%, and industrial load saw a significant increase of 12.5% in 2024 compared to 2023[46]. - TNMP recorded a new system peak in December 2024, driven by economic growth across Texas, necessitating further investments in grid reliability[210]. Rate Increases and Financial Proposals - PNM filed for a general increase in retail electric rates, proposing an increase of $174.3 million, which includes a $92.2 million increase in base rates, effective in two phases starting July 1, 2025[49]. - PNM filed a 2025 Rate Request for a two-phase implementation of a $3.0 billion increase in total rate base, including a request for a return on equity (ROE) of 10.45%[99]. - An unopposed settlement filed by PNM includes a $105.0 million increase in retail revenues, reflecting an ROE of 9.45%[199]. Infrastructure Investments and Modernization - PNM's Grid Modernization Plan, approved in October 2024, includes approximately $344 million in investments over the first six years of an 11-year strategy to enhance system efficiency and reliability[50]. - PNM and TNMP invested $2.3 billion in utility plant during 2023 and 2024, focusing on transmission and distribution infrastructure to support growing demand and enhance grid reliability[209]. - PNM's investments aim to modernize infrastructure to accommodate increasing amounts of intermittent and distributed generation resources, enhancing customer value[212]. Renewable Energy and Sustainability Goals - The New Mexico Renewable Energy Act mandates utilities to achieve a renewable portfolio of 40% by 2025 and 100% zero-carbon energy by 2045[53]. - PNM plans to be coal-free by 2031 and achieve a carbon-free generating portfolio by 2040, demonstrating commitment to sustainability[217]. - PNM's customer distributed solar generation program represented 308.5 MW at December 31, 2024, and plans to increase renewable generation capacity to 52.1% by 2026[59]. Financial Health and Risks - The profitability of TXNM's utilities is dependent on recovering costs through regulated rates, with significant capital investments placing upward pressure on customer rates[96]. - TXNM and its subsidiaries have significant indebtedness, which may limit their ability to obtain additional financing and increase vulnerability to adverse economic conditions[148]. - Interest rates have increased, potentially raising financing costs for TXNM and its subsidiaries, affecting cash flows and financial position[136]. Regulatory Compliance and Environmental Concerns - PNM's operations may face increased costs due to potential new regulations regarding the classification of CCRs as hazardous waste, impacting mine reclamation expenses[104]. - The company is subject to environmental cleanup liabilities, which could lead to civil or criminal penalties if compliance with environmental laws is not met[105]. - Environmental noncompliance could harm the company's reputation and increase the cost of capital, affecting overall financial stability[108]. Cybersecurity and Operational Risks - The company faces risks from physical and cybersecurity attacks that could disrupt operations and lead to significant financial losses[122]. - TXNM's cybersecurity program is a top priority, focusing on identifying and managing risks associated with cybersecurity threats[170]. - Management is responsible for overseeing cybersecurity risks and ensuring compliance with legal and regulatory requirements[176]. Workforce and Diversity - As of December 31, 2024, the total number of employees across TXNM, PNM, and TNMP is 1,695, with 27% being women and 56% minorities[89]. - The company is committed to diversity and inclusion, with a goal for its workforce to mirror the communities it serves[87]. Community Engagement and Support - PNM's Good Neighbor Fund provided emergency assistance to 3,665 families in need during 2024, addressing energy affordability[216]. - TXNM's vision focuses on creating a clean energy future while ensuring safety, reliability, and customer satisfaction[200].

ALBUQUERQUE, N.M., Feb. 25, 2025 /PRNewswire/ -- At its regular meeting held today, the Board of Directors of TXNM Energy, Inc. (NYSE: TXNM) declared the regular quarterly dividend of $0.4075 per share on the company's common stock. The dividend is payable May 16, 2025, to shareholders of record at the close of business April 25, 2025.Background:TXNM Energy (NYSE: TXNM), an energy holding company based in Albuquerque, New Mexico, delivers energy to more than 800,000 homes and businesses across Texas and New ...

TXNM Energy, Inc. (NYSE:TXNM) Q4 2024 Earnings Conference Call February 21, 2025 11:00 AM ET Company Participants Lisa Goodman - Investor Relations Pat Vincent-Collawn - Chairman & Chief Executive Officer Don Tarry - President & Chief Operating Officer Lisa Eden - Senior Vice President & Chief Financial Officer Conference Call Participants Julien Dumoulin-Smith - Jefferies Michael Lonegan - Evercore ISI Anthony Crowdell - Mizuho Andrew Weisel - Scotiabank Ryan Levine - Citi Operator Good day, and welcome to ...

2024 Earnings Review and 2025 Earnings Guidance February 21, 2025 Safe Harbor Statement Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 Statements made in this presentation for TXNM Energy, Inc. ("TXNM"), Public Service Company of New Mexico ("PNM"), or Texas-New Mexico Power Company ("TNMP") (collectively, the "Company") that relate to future events or expectations, projections, estimates, intentions, goals, targets, and strategies, including the unaudited financial results ...

Financial Performance - TXNM Energy reported 2024 GAAP earnings of $2.67 per diluted share, with ongoing earnings of $2.74 per diluted share, achieving the high end of original guidance[6]. - GAAP net earnings attributable to TXNM Energy for 2024 were $242.2 million, compared to $87.8 million in 2023[8]. - Ongoing net earnings for 2024 were $247.8 million, slightly up from $243.5 million in 2023[8]. - PNM's GAAP diluted EPS for 2024 was $2.12, significantly up from $0.41 in 2023[11]. - TNMP's ongoing diluted EPS for 2024 was $1.15, compared to $1.11 in 2023, indicating stable performance[11]. - GAAP Net Earnings for the quarter ended December 31, 2024, were $15,714 thousand, compared to a loss of $50,226 thousand for the same quarter in 2023[22]. - Ongoing Earnings for the year ended December 31, 2024, reached $247,819 thousand, an increase from $243,537 thousand in 2023[24]. - GAAP Net Earnings attributable to TXNM for Q4 2024 was $0.17, compared to a loss of $0.58 in Q4 2023[27]. - Net Earnings Attributable to TXNM for the year ended December 31, 2024, was $242,154,000, compared to $87,818,000 in 2023[31]. Revenue and Operating Income - The company experienced a decrease in Electric Operating Revenues of $52.2 million for the three months ended December 31, 2023[24]. - Total Electric Operating Revenues for the year ended December 31, 2024, were $1,971,199,000, a slight increase from $1,939,198,000 in 2023[31]. - Operating income for the year ended December 31, 2024, was $453,486,000, significantly higher than $231,340,000 in 2023[31]. Earnings Guidance and Growth Targets - The company increased its long-term earnings growth target to 7% to 9%[2]. - 2025 ongoing earnings guidance was introduced at a range of $2.74 to $2.84 per diluted share, reflecting strong growth at TNMP and a mid-year implementation of PNM's rate increase[5]. - TXNM Energy's ongoing earnings guidance reflects continued strong growth and the impact of new rates implemented at PNM Retail and FERC[5]. Capital Investment and Infrastructure - TXNM Energy's 5-year capital investment plan increased to $7.8 billion, a 26% increase over the prior plan, with a regulated rate base growth of 12% compared to 2025 levels[4]. - The company plans to prioritize investments for a more reliable and resilient grid in Texas and New Mexico[3]. Adjustments and Expenses - Regulatory disallowances increased by $118,411 thousand for the quarter ended December 31, 2023, contributing significantly to the adjustments[24]. - The total adjustments before income tax effects for the year ended December 31, 2024, amounted to $26,160 thousand, compared to $213,437 thousand in 2023[24]. - The income tax impact of adjusting items for the year ended December 31, 2024, was a total of $(20,495) thousand, reflecting significant tax adjustments[22]. - The company reported a pension expense related to previously disposed of gas distribution business of $1,732 thousand for the year ended December 31, 2024[22]. - Merger-related costs for the quarter ended December 31, 2024, totaled $913 thousand, compared to $1,274 thousand in the same quarter of 2023[22]. - The company reported a decrease in pension expense related to previously disposed of gas distribution business, contributing $0.01 to ongoing earnings in 2024[29]. Share and Earnings Adjustments - Average Diluted Shares Outstanding for the year ended December 31, 2024, was 90,590,573, compared to 86,368,999 in 2023[29]. - Total Adjustments for GAAP to Ongoing Earnings in Q4 2024 amounted to $0.13, while in Q4 2023 it was $0.76[29]. - Regulatory disallowances contributed $1.02 to GAAP Net Earnings in Q4 2023, a significant increase from $0.01 in Q4 2024[29]. - Ongoing Earnings for Q4 2024 were $0.30, compared to $0.18 in Q4 2023, indicating a growth of 66.7%[29]. - The net change in unrealized gains and losses on investment securities for the quarter ended December 31, 2024, was $13,486 thousand, while it was a loss of $26,840 thousand in the same quarter of 2023[22]. - The cost of energy decreased to $583,984,000 in 2024 from $802,261,000 in 2023, reflecting a reduction of approximately 27.3%[31].