PNM Resources (PNM) Tops Q2 EPS by 10c, Miss on Reveunes; Offers FY19 EPS Outlook

PNM Resources (NYSE: PNM) reported Q2 EPS of $0.53, $0.10 better than the analyst estimate of $0.43. Revenue for the quarter came in at $352.31 million versus the consensus estimate of $356.06 million.

In addition, management raised its consolidated ongoing earnings guidance to $1.91 to $1.98 per diluted share for 2018 and $2.08 to $2.18 per diluted share for 2019.

"We have raised 2018 and 2019 guidance based on higher load growth trends at PNM and continued strong demand at TNMP. In addition, hotter temperatures increased second quarter earnings," said Pat Vincent-Collawn, PNM Resources\' chairman, president and CEO. "At TNMP, we have increased capital spending in 2018 to serve their growing needs. Plans for capital spending beyond 2018 will be further evaluated as we progress through the year."

GUIDANCE:

PNM Resources sees FY2019 EPS of $2.08-$2.18, versus the consensus of $2.08.

For earnings history and earnings-related data on PNM Resources (PNM) click here.

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