TXNM Energy reports 2024 earnings, increases investment plan and earnings growth targets

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$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]