PNM Resources Inc. Q1 Profit Decreases, but beats estimates

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

The company's earnings came in at $47.190 million, or $0.52 per share. This compares with $55.014 million, or $0.64 per share, in last year's first quarter.

Excluding items, PNM Resources Inc. reported adjusted earnings of $36.956 million or $0.41 per share for the period.

Analysts on average had expected the company to earn $0.4 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 19.7% to $436.877 million from $544.077 million last year.

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

-Earnings (Q1): $47.190 Mln. vs. $55.014 Mln. last year. -EPS (Q1): $0.52 vs. $0.64 last year. -Revenue (Q1): $436.877 Mln vs. $544.077 Mln last year.

-Guidance: Full year EPS guidance: $2.65 to $2.75