PNM Resources Inc. Q3 Profit Decreases, but beats estimates

(RTTNews) - PNM Resources Inc. (PNM) reported a profit for third quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $37.7 million, or $0.44 per share. This compares with $122.4 million, or $1.42 per share, in last year's third quarter.

Excluding items, PNM Resources Inc. reported adjusted earnings of $132.9 million or $1.54 per share for the period.

Analysts on average had expected the company to earn $1.34 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 30.7% to $505.851 million from $729.888 million last year.

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

-Earnings (Q3): $37.7 Mln. vs. $122.4 Mln. last year. -EPS (Q3): $0.44 vs. $1.42 last year. -Analyst Estimates: $1.34 -Revenue (Q3): $505.851 Mln vs. $729.888 Mln last year.

-Guidance: Full year EPS guidance: $2.75 to $2.80