PNM Resources Preliminary FY Profit Rises - Quick Facts

(RTTNews) - PNM Resources (PNM) reported that its preliminary net earnings attributable to the company for fiscal year 2021 increased to $195.8 million or $2.27 per share from $172.8 million or $2.15 per share in the previous year.

Ongoing net earnings for fiscal year 2021 were $211.1 million or $2.45 per share compared to $182.8 million or $2.28 in the previous year. Analysts polled by Thomson Reuters expected the company to report earnings of $2.40 per share for fiscal year 2021. Analysts' estimates typically exclude special items.

In addition, the company announced its 2022 ongoing earnings guidance of $2.50 to $2.60 per share and 2023 ongoing earnings guidance of $2.60 to $2.75 per share.

PNM Resources said its board voted on February 2, 2022 to increase the company's annual dividend payment by $0.08 to an indicated annual rate of $1.39 per share of common stock. The Board has declared the resulting quarterly stock dividend of $0.3475 per share, payable February 24, 2022, to shareholders of record at the close of business February 14, 2022.