PNM Resources Inc. Q2 Profit Climbs, but misses estimates

(RTTNews) - PNM Resources Inc. (PNM) announced earnings for its second quarter that increased from the same period last year but missed the Street estimates.

The company's bottom line came in at $45.304 million, or $0.53 per share. This compares with $15.361 million, or $0.18 per share, in last year's second quarter.

Analysts on average had expected the company to earn $0.56 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 4.5% to $477.156 million from $499.730 million last year.

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

-Earnings (Q2): $45.304 Mln. vs. $15.361 Mln. last year. -EPS (Q2): $0.53 vs. $0.18 last year. -Analyst Estimate: $0.56 -Revenue (Q2): $477.156 Mln vs. $499.730 Mln last year.

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