Financial Performance - Q3 2025 GAAP net earnings attributable to TXNM Energy were $130.7 million, a decrease of 0.4% from $131.2 million in Q3 2024[1] - Q3 2025 ongoing net earnings were $142.8 million, up 10.8% from $129.3 million in Q3 2024[1] - Q3 2025 GAAP diluted EPS was $1.22, down from $1.45 in Q3 2024, while ongoing diluted EPS was $1.33, compared to $1.43 in Q3 2024[1] - TXNM Energy's ongoing earnings for YTD 2025 were $185.5 million, down from $220.6 million in YTD 2024[1] - GAAP Net Earnings attributable to TXNM for the three months ended September 30, 2025, were $131.202 million, with ongoing earnings of $129.343 million[23] - For the nine months ended September 30, 2025, GAAP Net Earnings attributable to TXNM were $226.441 million, with ongoing earnings of $220.634 million[23] - Net Earnings attributable to TXNM for Q3 2025 were $130,710, slightly down from $131,202 in Q3 2024[29] - Net Earnings for the nine months ended September 30, 2025, were $175,114, down from $238,728 in the same period of 2024[29] Revenue and Expenses - Electric Operating Revenues for Q3 2025 reached $647,162, an increase of 13.7% from $569,256 in Q3 2024[29] - Total Operating Expenses for Q3 2025 were $444,292, up 17.5% from $378,176 in Q3 2024[29] - Operating Income for Q3 2025 was $202,870, representing a 6.9% increase compared to $191,080 in Q3 2024[29] - Total Operating Expenses for the nine months ended September 30, 2025, were $1,284,914, an increase of 15.1% from $1,116,882 in 2024[29] Shareholder Information - Basic and Diluted Earnings per Common Share for Q3 2025 were both $1.22, compared to $1.45 in Q3 2024, reflecting a decrease of 15.9%[29] - Dividends Declared per Common Share increased to $0.4075 in Q3 2025 from $0.3875 in Q3 2024, marking a rise of 5.2%[29] Regulatory and Acquisition Updates - TXNM Energy's transaction with Blackstone Infrastructure is set at $61.25 per share, approved by shareholders on August 28, 2025[5] - The company anticipates closing the acquisition in the second half of 2026, pending regulatory approvals[7] - TXNM Energy's regulatory update includes a $87 million recovery from the Transmission Cost of Service filing and a $28 million recovery sought through the Distribution Cost Recovery Factor[9] - The company filed for regulatory approval to construct 30 megawatts of energy storage at an estimated cost of $78 million[10] - The company incurred $14 million in costs related to the planned acquisition in Q3 2025[13] Other Financial Metrics - PNM's Q3 2025 GAAP diluted EPS was $0.95, down from $1.20 in Q3 2024, while TNMP's GAAP diluted EPS was $0.38, slightly down from $0.39 in Q3 2024[11] - Interest charges at TNMP increased by $9.6 million and $16.2 million for the three and nine months ended September 30, 2025, respectively[21] - Interest Charges for Q3 2025 were $70,149, up from $59,664 in Q3 2024, indicating an increase of 17.5%[29] - Increases in "Administrative and general" expenses at PNM were $0.9 million for both the three and nine months ended September 30, 2025[21] - Earnings before Income Taxes for Q3 2025 were $155,253, slightly down from $159,820 in Q3 2024, reflecting a decrease of 2.9%[29] Share Statistics - The average diluted shares outstanding for the three months ended September 30, 2025, were 107,416,661[25]
TXNM Energy, Inc.(TXNM) - 2025 Q3 - Quarterly Results