PNM Resources Q2 Tops Analyst Expectations, Backs FY Guidance; Shares Up 3%, Challenge Year Highs

By Staff,

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PNM Resources Inc.'s ( PNM ) reported reported Q2 EPS of $0.33 for the quarter, beating the Thomson-Reuters consensus estimate of $0.29 by $0.04.

Its New Mexico utility saw ongoing earnings nearly double to $21.6 million. The company said it benefited from higher retail rates and increased usages as a result of warmer June weather.

The company also backed its full year guidance for 2012.

PNM shares are up 3.1% to $21.04. Shares have traded in a day range of $20.48 - $21.14, and a year range of $12.75 - $21.28.

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This article appears in: Investing Commodities
Referenced Stocks: PNM

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