PNM Resources Raises Upper End Of 2019 Ongoing Earnings Guidance - Quick Facts

(RTTNews) - PNM Resources (PNM) said its first-quarter financial results reflect continued growth in New Mexico that has increased the company's expectations for 2019 earnings. The company's earnings and revenue for the first-quarter were above analysts' estimates.

PNM raised the upper end of its consolidated ongoing earnings guidance to a range of $2.10 to $2.20 per diluted share for 2019. Analysts polled by Thomson Reuters expect the company to report profit per share of $2.15. Analysts' estimates typically exclude special items.

For the first-quarter, ongoing EPS was $0.13 compared to $0.21. On average, six analysts polled by Thomson Reuters expected the company to report profit per share of $0.11 for the quarter.

First-quarter total electric operating revenues improved to $349.645 million from $317.88 million, previous year. Analysts expected revenue of $348.99 million, for the quarter.