Core Insights - TXNM Energy reported a long-term earnings growth target increase to 7% to 9% and provided 2025 ongoing earnings guidance of $2.74 to $2.84 per diluted share [1][4][5] Financial Performance - For 2024, TXNM Energy reported GAAP earnings of $2.67 per diluted share, with ongoing earnings of $2.74 per diluted share, achieving the high end of the original guidance [5][7] - The company’s GAAP net earnings attributable to TXNM Energy for 2024 were $242.2 million, compared to $87.8 million in 2023 [5][23] - Ongoing net earnings for 2024 were $247.8 million, slightly up from $243.5 million in 2023 [5] Growth Outlook - TXNM Energy's 5-year capital investment plan for 2025-2029 has been increased to $7.8 billion, representing a 26% increase over the previous plan [3] - The regulated rate base is expected to grow by 12% compared to 2025 levels, with targeted earnings per share growth of 7% to 9% during this period [3][7] Segment Performance - In 2024, PNM's GAAP diluted EPS was $2.12, up from $0.41 in 2023, while TNMP's GAAP diluted EPS increased to $1.14 from $1.10 [7][21] - Corporate and Other segment reported a loss of $0.59 per diluted share in 2024, compared to a loss of $0.49 in 2023 [7][21] Earnings Guidance - The ongoing earnings guidance for 2025 reflects strong growth at TNMP and the mid-year implementation of PNM's stipulated rate increase [4][5] - The ongoing earnings guidance range for 2025 is set at $2.74 to $2.84 per diluted share [4][5]

Core Viewpoint - TXNM Energy, Inc. is set to announce its 2024 financial results and provide ongoing earnings guidance for 2025 on February 21, 2025, prior to market opening [1] Group 1: Financial Results Announcement - The financial results for 2024 will be disclosed along with 2025 earnings guidance [1] - A live conference call will be held at 11 a.m. Eastern Time to discuss these results and other updates [1] Group 2: Participation Details - Investors and analysts can pre-register for the live conference call through a provided link [2] - Telephone participants can join by dialing specific numbers fifteen minutes before the event [2] Group 3: Company Background - TXNM Energy is an energy holding company based in Albuquerque, New Mexico, serving over 800,000 homes and businesses in Texas and New Mexico [4] - The company operates through its regulated utilities, TNMP and PNM [4]

Core Insights - The article compares PNM Resources (TXNM) and Bloom Energy (BE) to determine which stock offers better value for investors [1] Group 1: Zacks Rank and Earnings Outlook - TXNM has a Zacks Rank of 2 (Buy), indicating a positive earnings outlook, while BE has a Zacks Rank of 3 (Hold) [3] - The Zacks Rank system emphasizes companies with positive earnings estimate revisions, suggesting TXNM is likely experiencing a more favorable earnings outlook [3] Group 2: Valuation Metrics - TXNM has a forward P/E ratio of 18.08, significantly lower than BE's forward P/E of 331.17, indicating TXNM may be undervalued [5] - TXNM's PEG ratio is 6.07, while BE's PEG ratio is 13.25, further suggesting TXNM offers better value considering expected earnings growth [5] - TXNM's P/B ratio is 1.77, compared to BE's P/B of 12.85, reinforcing the notion that TXNM is more attractively priced relative to its book value [6] Group 3: Value Grades - TXNM holds a Value grade of A, while BE has a Value grade of D, indicating TXNM is viewed as a superior value option based on its earnings outlook and valuation metrics [7]

Core Points - TNMP, a subsidiary of TXNM Energy, filed an unopposed settlement for a System Resiliency Plan with the Public Utility Commission of Texas [1] - The settlement includes $565.8 million in capital investments from 2025 to 2027, covering 94% of TNMP's proposed investments [2] - An additional $128.2 million is allocated for operations and maintenance expenses related to programs such as vegetation management and wildfire mitigation [2] - The settlement is pending approval from the PUCT [3] Company Background - TXNM Energy is an energy holding company based in Albuquerque, New Mexico, serving over 800,000 homes and businesses in Texas and New Mexico through its regulated utilities, TNMP and PNM [3]

Core Points - TXNM Energy has increased its annual dividend payment by $0.08, representing a 5.2% increase, bringing the indicated annual rate to $1.63 per share [1] - The quarterly stock dividend of $0.4075 per share is payable on February 14, 2025, to shareholders of record as of January 31, 2025 [1] - Public Service Company of New Mexico, a subsidiary of TXNM Energy, declared a quarterly dividend of $1.145 per share on its cumulative preferred stock, payable on January 15, 2025, to shareholders of record as of December 31, 2024 [2] - TXNM Energy serves over 800,000 homes and businesses across Texas and New Mexico through its regulated utilities, TNMP and PNM [3]

Core Insights - Investors are considering PNM Resources (TXNM) and Bloom Energy (BE) as potential undervalued stocks in the Alternative Energy - Other sector [1] Valuation Metrics - PNM Resources has a Zacks Rank of 2 (Buy), indicating a more favorable earnings estimate revision activity compared to Bloom Energy, which has a Zacks Rank of 3 (Hold) [3] - TXNM's forward P/E ratio is 18.09, significantly lower than BE's forward P/E of 309.20, suggesting TXNM is more attractively priced [5] - The PEG ratio for TXNM is 7.12, while BE's PEG ratio is 12.37, indicating that TXNM is expected to grow earnings at a more favorable rate relative to its price [5] - TXNM has a P/B ratio of 1.77, compared to BE's P/B of 13.67, further highlighting TXNM's relative undervaluation [6] Value Grades - Based on various valuation metrics, TXNM holds a Value grade of A, while BE has a Value grade of F, suggesting that TXNM is the better option for value investors at this time [7]

Core Points - TNMP, a subsidiary of TXNM Energy, filed an unopposed joint motion to abate the procedural schedule for its System Resiliency Plan, including the hearing scheduled for November 19-20, 2024, which was approved by the administrative law judge [1][2] - The parties involved have reached a settlement in principle and require time to formalize and file a settlement agreement, requesting cancellation of the hearing and an update on the settlement by December 5, 2024 [2] - TNMP's System Resiliency Plan includes $600 million in capital investments and $151 million in related costs over three years, developed through a comprehensive, data-driven approach to address various resiliency risks [3] Company Background - TXNM Energy is an energy holding company based in Albuquerque, New Mexico, providing energy to over 800,000 homes and businesses across Texas and New Mexico through its regulated utilities, TNMP and PNM [4]

Group 1 - TXNM Energy, Inc. management will affirm the company's 2024 consolidated earnings guidance of $2.70 to $2.75 per diluted share during meetings at the Edison Electric Institute Financial Conference [1] - TXNM Energy is an energy holding company based in Albuquerque, New Mexico, serving over 800,000 homes and businesses in Texas and New Mexico through its regulated utilities, TNMP and PNM [2]

Financial Performance - Electric Operating Revenues for the three months ended September 30, 2024, were $569,256 thousand, an increase from $505,851 thousand in the same period last year, representing a growth of 12.4%[20]. - Operating income for the three months ended September 30, 2024, was $191,080 thousand, compared to $86,652 thousand in the prior year, reflecting a significant increase of 120.5%[20]. - Net earnings attributable to TXNM for the three months ended September 30, 2024, were $131,202 thousand, up from $37,726 thousand in the same period last year, marking a growth of 248.5%[20]. - Basic and diluted earnings per common share for the three months ended September 30, 2024, were both $1.45, compared to $0.44 in the prior year, indicating an increase of 229.5%[20]. - Total operating expenses decreased to $378,176 thousand for the three months ended September 30, 2024, from $419,199 thousand in the same period last year, a reduction of 9.8%[20]. - Comprehensive income attributable to TXNM for the three months ended September 30, 2024, was $127,703 thousand, compared to $34,541 thousand in the prior year, an increase of 269.5%[22]. - Net earnings for the three months ended September 30, 2024, were $113,862,000, compared to $13,266,000 for the same period in 2023, representing a significant increase[36]. - Net earnings for the nine months ended September 30, 2024, increased to $80,203,000, compared to $74,169,000 for the same period in 2023, representing an increase of approximately 8.8%[54]. Revenue and Expenses - Electric operating revenues for the nine months ended September 30, 2024, reached $445,930 thousand, up from $408,343 thousand in the prior year, marking an increase of about 9.2%[51]. - Total operating expenses for the nine months ended September 30, 2024, were $307,407 thousand, compared to $291,675 thousand in the previous year, an increase of approximately 5.4%[51]. - The cost of energy for the three months ended September 30, 2024, was $101,495 thousand, a decrease from $174,362 thousand in the same period of 2023, representing a reduction of 42%[34]. - Total operating expenses for the three months ended September 30, 2024, were $272,510 thousand, down from $319,638 thousand in the same period of 2023, a decrease of 15%[34]. Cash Flow and Investments - Cash flows from operating activities for the nine months ended September 30, 2024, were $349,521 thousand, compared to $412,604 thousand in the same period last year, a decrease of 15.3%[24]. - Net cash flows used in investing activities for the nine months ended September 30, 2024, were $(805,858) thousand, slightly lower than $(811,877) thousand in the same period last year[24]. - Cash flows from financing activities showed a net increase of $468,830 thousand for the nine months ended September 30, 2024, compared to $402,963 thousand for the same period in 2023, reflecting a growth of approximately 16.3%[27]. - Utility plant additions for the nine months ended September 30, 2024, were $493,381,000, an increase from $424,292,000 in the same period of 2023[38]. Assets and Liabilities - Total current assets rose to $495,694 thousand, up from $475,543 thousand, indicating an increase of about 4.8%[29]. - Total liabilities increased to $8,323,904 thousand from $7,842,025 thousand, reflecting an increase of about 6.1%[31]. - Retained earnings grew to $908,693 thousand, up from $787,110 thousand, which is an increase of approximately 15.4%[31]. - Total current liabilities increased to $900,237 thousand from $839,194 thousand, representing a growth of approximately 7.5%[45]. - Long-term debt increased to $1,464,054,000 as of September 30, 2024, from $1,180,933,000 at the end of 2023, representing a rise of approximately 24.0%[58]. Debt and Financing - PNM issued $200 million in Senior Unsecured Notes on April 28, 2023[14]. - PNM's $400 million Unsecured Revolving Credit Facility is currently in place[14]. - TXNM has a $1 billion Unsecured Delayed-Draw Term Loan maturing on May 18, 2025[17]. - TXNM's 2023 Term Loan is valued at $500 million, maturing on June 30, 2026[17]. - TXNM executed forward sale agreements for the sale of 2,458,951 shares of common stock at weighted average initial prices of $37.77 and $40.58 per share[160][161]. - PNM filed a shelf registration statement for the issuance of up to $650.0 million of SUNs, expiring in May 2026[157]. Dividends - Dividends declared per common share increased to $0.3875 for the three months ended September 30, 2024, compared to $0.3675 in the prior year, a rise of 3.1%[20]. - The company paid dividends totaling $105,254 thousand, compared to $95,029 thousand in the previous period, representing an increase of about 10.5%[27]. - The company declared dividends of $132 thousand for the three months ended September 30, 2024, consistent with the previous quarter[48]. Regulatory and Environmental - The Energy Transition Act requires utilities in New Mexico to achieve renewable portfolios of 40% by 2025, 50% by 2030, 80% by 2040, and 100% zero-carbon energy by 2045[201]. - The Energy Transition Act allows for the recovery of undepreciated investments and decommissioning costs related to qualifying electric generating units[201]. - States are required to establish interim goals for visibility improvement in national parks and develop long-term strategies to reduce emissions under the Clean Air Act[207]. - The EPA issued a "Finding of Failure to Submit" for states, including New Mexico, that have not submitted a round 2 regional haze SIP, initiating a 2-year timeline for a Federal Implementation Plan[211]. Stock and Compensation - The stock-based compensation expense related to unrecognized stock awards was $6.2 million, expected to be recognized over an average of 1.6 years[146]. - The company granted 249,282 restricted shares during the nine months ended September 30, 2024, with 208,442 shares released[150]. - The company’s performance stock awards are subject to achieving both performance and market targets, with certain awards vesting immediately upon retirement[144].

Exhibit 99.1 ALBUQUERQUE, N.M. November 1, 2024 TXNM Energy Reports Third Quarter 2024 Results 2024 Ongoing Earnings Guidance Narrowed • 2024 third quarter GAAP earnings of $1.45 per diluted share • 2024 third quarter ongoing earnings of $1.43 per diluted share • Narrowed 2024 ongoing earnings guidance range to $2.70 - $2.75 | --- | --- | --- | --- | --- | |---------------------------------------------------------|------------------------------------|--------------------|-----------------|------------| | TX ...