PNM Resources Q4 Profit Rises, Operating EPS Misses Estimates; Narrows FY23 View

(RTTNews) - Energy holding company PNM Resources Inc. (PNM) reported Friday that its fourth-quarter net earnings attributable to the company increased to $15.75 million from last year's $11.22 million.

Earnings per share were $0.18, up from $0.13 a year ago.

Ongoing earnings were $12.61 million or $0.15 per share, compared to prior year's $17.73 million or $0.21 per share.

On average, four analysts polled by Thomson Reuters expected earnings of $0.16 per share for the quarter. Analysts' estimates typically exclude special items.

Looking ahead for fiscal 2023, PNM Resources narrowed its consolidated ongoing earnings guidance to a range of $2.65 to $2.75 per share.

The company previously expected ongoing earnings in a range of $2.60 to $2.75 per share.

Analysts estimate earnings of $2.69 per share for fiscal 2023.

In fiscal 2022, the company's reported earnings were $1.97 per share and ongoing earnings were $2.69 per share.

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