PNM Resources
PNM
reported first-quarter 2022 earnings per share (EPS) of 50 cents, which beat the Zacks Consensus Estimate of 45 cents by 11%. The bottom line also improved by 56.3% from the year-ago earnings of 32 cents per share.
GAAP earnings for the quarter were 19 cents per share, down by a penny from the prior-year quarter’s reading of 20 cents.
Total Revenues
Total electric operating revenues for the first quarter were $444.1 million, up 21.8% from $364.7 million in the year-ago quarter.
PNM Resources, Inc. Price, Consensus and EPS Surprise
PNM Resources, Inc. price-consensus-eps-surprise-chart
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PNM Resources, Inc. Quote
Highlights of the Release
Total operating expenses for the reported quarter were $376.1 million, up 17% from $321.5 million in the year-ago quarter, due to an increase in the energy production, transmission and distribution costs.
Operating income in the reported quarter improved by 57.6% from the prior-year quarter’s reading to $68.1 million.
PNM Resources and AVANGRID announced the amendment and extension of their merger agreement through Apr 20, 2023. The companies filed the statement of issues in the appeal of the New Mexico Public Regulation Commission decision with the New Mexico Supreme Court.
Guidance
PNM Resources reaffirmed the 2022 EPS guidance in the range of $2.50-$2.60 and the 2023 EPS guidance in the band of $2.60-$2.75. The midpoint of the above-guided range for 2022 is $2.55, on par with the Zacks Consensus Estimate for 2022. PNM reiterated its five-year investment plan of $3.5 billion for the 2022-2025 period to improve the transmission and distribution infrastructure.
Zacks Rank
PNM Resources currently has a Zacks Rank #3 (Hold). You can see
the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here
.
Upcoming Releases
Dominion Energy
D
is scheduled to announce first-quarter 2022 results on May 5 before market open. The Zacks Consensus Estimate for earnings is pegged at $1.17 per share.
Dominion’s long-term earnings growth is projected at 6.1%. The Zacks Consensus Estimate for D’s 2022 EPS suggests year-over-year growth of 6.7%.
Duke Energy
DUK
is set to release first-quarter 2022 results on May 9 before market open. The Zacks Consensus Estimate for EPS is pegged at $1.37 per share.
Duke Energy’s long-term earnings growth is projected at 9.2%. The Zacks Consensus Estimate for DUK’s 2022 EPS indicates year-over-year growth of 4.2%.
Algonquin Power & Utilities
AQN
is set to release first-quarter 2022 results on May 12. The Zacks Consensus Estimate for EPS is pegged at 23 cents per share.
Algonquin Power & Utilities’ long-term (three to five years) earnings growth is projected at 8.1%. The Zacks Consensus Estimate for AQN’s 2022 EPS indicates year-over-year growth of 5.6%.
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