PNM Resources Inc. Q1 Profit Increases, beats estimates

(RTTNews) - PNM Resources Inc. (PNM) revealed earnings for its first quarter that increased from last year and beat the Street estimates.

The company's bottom line totaled $55.01 million, or $0.64 per share. This compares with $15.99 million, or $0.19 per share, in last year's first quarter.

Excluding items, PNM Resources Inc. reported adjusted earnings of $47.6 million or $0.55 per share for the period.

Analysts on average had expected the company to earn $0.44 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 22.5% to $544.08 million from $444.12 million last year.

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

-Earnings (Q1): $55.01 Mln. vs. $15.99 Mln. last year. -EPS (Q1): $0.64 vs. $0.19 last year. -Analyst Estimate: $0.44 -Revenue (Q1): $544.08 Mln vs. $444.12 Mln last year.

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