Core Insights - TXNM Energy reported its Q3 2025 results, showing a slight decline in GAAP net earnings and diluted EPS compared to Q3 2024, with GAAP net earnings at $130.7 million and diluted EPS at $1.22 [1][8] - The company has not affirmed its previously issued earnings guidance for 2025 due to a pending transaction with Blackstone Infrastructure, which is expected to close in the second half of 2026 [1][4] Financial Performance - Q3 2025 GAAP net earnings attributable to TXNM Energy were $130.7 million, down from $131.2 million in Q3 2024 - Q3 2025 ongoing net earnings were $142.8 million, compared to $129.3 million in Q3 2024 - Year-to-date (YTD) 2025 GAAP net earnings were $161.2 million, down from $226.4 million in YTD 2024, while ongoing net earnings for YTD 2025 were $185.5 million, down from $220.6 million in YTD 2024 [1][8] Segment Reporting - PNM's Q3 2025 EPS was $0.95, down from $1.20 in Q3 2024 - TNMP's Q3 2025 EPS was $0.38, slightly down from $0.39 in Q3 2024 - Corporate and Other segment reported a loss of $0.11 in Q3 2025, unchanged from Q3 2024 [10][14] Regulatory and Transaction Updates - TXNM Energy is in the process of obtaining regulatory approvals for its acquisition by Blackstone Infrastructure, with applications filed with NMPRC, PUCT, and FERC [3][4] - The acquisition agreement was approved by shareholders on August 28, 2025, at a price of $61.25 per share [2][8] Cost Recovery and Investments - TNMP's second Transmission Cost of Service (TCOS) filing for 2025 was approved, allowing recovery for $87 million of rate base [5] - PNM filed an application for a Certificate of Convenience and Necessity (CCN) to construct 30 megawatts of energy storage at an estimated cost of $78 million [6]
TXNM Energy Reports Third Quarter 2025 Results