PNM Resources Inc. Q1 Profit Decreases, but beats estimates

(RTTNews) - PNM Resources Inc. (PNM) announced earnings for first quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line totaled $15.99 million, or $0.19 per share. This compares with $17.58 million, or $0.20 per share, in last year's first quarter.

Excluding items, PNM Resources Inc. reported adjusted earnings of $43.31 million or $0.50 per share for the period.

Analysts on average had expected the company to earn $0.39 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 21.8% to $444.12 million from $364.71 million last year.

PNM Resources Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $15.99 Mln. vs. $17.58 Mln. last year. -EPS (Q1): $0.19 vs. $0.20 last year. -Analyst Estimates: $0.39 -Revenue (Q1): $444.12 Mln vs. $364.71 Mln last year.

-Guidance: Full year EPS guidance: $2.50 to $2.60