PNM Resources Raises 2020 Ongoing Earnings Guidance - Quick Facts

(RTTNews) - PNM Resources, Inc. (PNM) said the company is raising its 2020 ongoing earnings guidance to $2.23 - $2.31, targeting a midpoint of $2.27, compared to its prior guidance range of $2.16 - $2.26. Analysts polled by Thomson Reuters expect the company to report profit per share of $2.20. Analysts' estimates typically exclude special items.

The company said the guidance increase reflects higher residential loads resulting from COVID-19 and hotter summer temperatures, along with interest savings from the refinancing of debt in 2020 that will benefit customers long-term.