Exhibit 99.1 TXNM Energy (In millions, except EPS) | | Q1 2025 | Q1 2024 | | --- | --- | --- | | GAAP net earnings attributable to | | | | TXNM Energy | $8.9 | $47.2 | | GAAP diluted EPS | $0.10 | $0.52 | | Ongoing net earnings | $18.1 | $37.0 | | Ongoing diluted EPS | $0.19 | $0.41 | TXNM Energy (NYSE: TXNM) today released its 2025 first quarter results. In addition, management affirmed its 2025 consolidated ongoing earnings guidance range of $2.74 to $2.84 per diluted share and maintained its long-term ea ...

Q1 2025 Earnings Review May 9, 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 and earnings guidance, are ma ...

2025 first quarter GAAP earnings of $0.10 per diluted share 2025 first quarter ongoing earnings of $0.19 per diluted share 2025 ongoing earnings guidance range of $2.74 - $2.84 per diluted share affirmed Long-term earnings per share growth target of 7% to 9% TXNM Energy (In millions, except EPS) Q1 2025 Q1 2024 GAAP net earnings attributableto TXNM Energy $8.9 $47.2 GAAP diluted EPS $0.10 $0.52 Ongoing net earnings $18.1 $37.0 Ongoing diluted EPS $0.19 $0.41 ALBUQUERQUE, N.M. ...

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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]

Core Insights - TNMP, a subsidiary of TXNM Energy, received approval from the Public Utility Commission of Texas for its Transmission Cost of Service application [1][2] - The approved annual rate increase is $11.5 million, which will recover $83.5 million of incremental transmission rate base [2] Company Overview - 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 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].

Group 1 - TXNM Energy, Inc. declared a quarterly dividend of $0.4075 per share on its common stock [1] - The dividend is scheduled to be payable on May 16, 2025, to shareholders of record as of April 25, 2025 [1] - TXNM Energy is an energy holding company serving over 800,000 homes and businesses in Texas and New Mexico [2] Group 2 - The company operates through its regulated utilities, TNMP and PNM [2] - For further information, TXNM Energy's website is available at www.TXNMEnergy.com [2]