PNM Resources Narrows 2019 Ongoing Earnings Guidance - Quick Facts

(RTTNews) - PNM Resources (PNM) announced its management narrowed the 2019 consolidated ongoing earnings guidance to a range of $2.10 to $2.18 per diluted share to reflect colder New Mexico temperatures experienced throughout the first months of 2019.

For the fourth-quarter, ongoing EPS was $0.18 compared to $0.24, prior year. For fiscal 2018, ongoing EPS was $2.00 compared to $1.94.

"Fourth quarter earnings, while lower than the prior year, were strengthened by colder temperatures in New Mexico. These weather impacts, combined with the continued strength in load growth for both New Mexico and Texas, resulted in earnings just above our 2018 guidance range. As unprecedented demand for new service continues in our Texas service territory and the renewable energy potential in New Mexico comes to the forefront, we continue to revise our investment plans to reflect incremental growth opportunities," said Pat Vincent-Collawn, PNM Resources' CEO.