TXNM Energy Inc
TXNM
ISIN US69349H1077 / Valor 1350386
TXNM Energy Inc
UMushroom community rating:
About company
PNM Resources Inc is an energy holding company that, through its regulated utilities PNM and TNMP, provides electricity services to over 800,000 residential and commercial customers across New Mexico and Texas. The company operates within the energy sector, focusing on the delivery of electric power. While PNM Resources emphasizes its commitment to environmental, social, and governance principles, its core business revolves around the generation, transmission, and distribution of electricity. This involvement underscores its role in the energy infrastructure of the two states it serves, highlighting its significance in the regional energy market. The company's operations are crucial for meeting the energy needs of a substantial customer base, making it a key player in the utility industry within its service territories.
Summarized from source with an LLMView SourceSector: FinanceLatest Results (07.08.2024):
GAAP Earnings
TXNM Energy Inc. reported GAAP net earnings attributable to the company of $48.0 million for the second quarter of 2024, compared to $45.3 million in the same quarter of 2023. This resulted in a GAAP diluted earnings per share (EPS) of $0.53, consistent with the previous year's second quarter.
Ongoing Earnings
For the second quarter of 2024, TXNM Energy Inc. achieved ongoing net earnings of $54.3 million, up from $47.4 million in the second quarter of 2023. The ongoing diluted EPS for this period was $0.60, an increase from $0.55 in the same quarter of the previous year.
Segment Performance
In the second quarter of 2024, TXNM Energy Inc.'s PNM segment reported a GAAP diluted EPS of $0.34 and an ongoing diluted EPS of $0.41. The TNMP segment reported both GAAP and ongoing diluted EPS of $0.33. The Corporate and Other segment had a negative impact, with a GAAP and ongoing diluted EPS of ($0.14).
Revenue Drivers
The increase in TXNM Energy Inc.'s earnings for the second quarter of 2024 was driven by new retail rates, load growth, and hotter weather, which positively impacted the PNM segment. However, these gains were partially offset by lower transmission margins, higher demand charges from battery storage contracts, and increased depreciation expenses.
Ongoing Earnings Guidance
TXNM Energy Inc. has affirmed its ongoing earnings guidance range for 2024, projecting between $2.65 and $2.75 per diluted share. This guidance reflects the company's confidence in its long-term plans, including investments in grid infrastructure and modernization efforts.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
4391 M
Market cap (USD)
67,160
Daily traded volume (Shares)
48.86 / 48.09
1 day high/low (USD)
52 weeks high/low (USD)
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Ratings & reviews
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