Why Is PNM Resources (PNM) Up 4.3% Since Last Earnings Report?

A month has gone by since the last earnings report for PNM Resources (PNM). Shares have added about 4.3% in that time frame, underperforming the S&P 500.

Will the recent positive trend continue leading up to its next earnings release, or is PNM Resources due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.

PNM Resources Q2 Earnings Top Estimates, Sales Rise Y/Y

PNM Resources reported second-quarter 2020 earnings of 55 cents per share, beating the Zacks Consensus Estimate of 50 cents by 10%. The bottom line also surged 44.7% from the year-ago quarter’s 38 cents per share.

On a GAAP basis, the company reported earnings of 72 cents per share against a loss of 95 cents in the year-ago quarter.

Total Revenues

Electric Operating revenues of $357.7 million were up 8.3% from $330.2 million in the year-ago quarter.

Highlights of the Release

Total operating expenses in the quarter under review summed $286.5 million, down 32.4% from expenses of $423.8 million in the year-ago quarter.

Operating income in the quarter under review was $71.2 million against an operating loss of $93.6 million a year ago.


The company reaffirmed its 2020 earnings per share guidance in the range of $2.16-$2.26, the midpoint of which is $2.21, higher than the Zacks Consensus Estimate of $2.20.

The company expects its earnings growth rate in the 5-6% range through 2023. It is also focused on strengthening grid and plans to invest $3.3 billion during the 2020-2023 time period.

How Have Estimates Been Moving Since Then?

Analysts were quiet during the last two month period as none of them issued any earnings estimate revisions.

Click to get this free report

PNM Resources, Inc. Holding Co. (PNM): Free Stock Analysis Report

To read this article on click here.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Latest Technology Videos


Zacks is the leading investment research firm focusing on stock research, analysis and recommendations. In 1978, our founder discovered the power of earnings estimate revisions to enable profitable investment decisions. Today, that discovery is still the heart of the Zacks Rank. A wealth of resources for individual investors is available at

Learn More