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Shares of PNM Resources (NYSE:PNM) were flat in pre-market trading after the company reported Q1 results.
Quarterly Results
Earnings per share were up 77.78% year over year to $0.32, which beat the estimate of $0.20.
Revenue of $364,707,000 rose by 9.32% year over year, which beat the estimate of $305,970,000.
Looking Ahead
The upcoming fiscal year's EPS expected to be between $2.27 and $2.37.
Technicals
52-week high: $50.25
52-week low: $34.24
Price action over last quarter: Up 3.21%
Company Overview
PNM Resources Inc, or PNMR, is a holding company that owns regulated utilities companies providing electricity and electric services. PNMR segments its operations by its two subsidiaries, PNM and TNMP. PNM provides electric generation, transmission, and distribution services mainly to areas of New Mexico. While PNM uses a variety of fuel sources across its power plant portfolio, its coal and gas-fueled sites produce most of the energy. TNMP owns and operates transmission and distribution services primarily in small to medium-sized communities in Texas. Both subsidiaries generate revenue for PNMR through the sale of electricity and transmission service fees fairly evenly split between residential and commercial customers. PNM generates the vast majority of PNMR's total revenue.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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