Pnm Resources ( (TXNM) ) has released its Q2 earnings. Here is a breakdown of the information Pnm Resources presented to its investors.
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TXNM Energy, an energy holding company based in Albuquerque, New Mexico, operates regulated utilities that deliver energy to over 800,000 homes and businesses across Texas and New Mexico.
In the second quarter of 2025, TXNM Energy reported GAAP earnings of $0.22 per diluted share and ongoing earnings of $0.25 per diluted share. The company is in the process of a significant transaction with Blackstone Infrastructure, expected to close in the second half of 2026.
The earnings report highlighted a decrease in GAAP net earnings to $21.6 million from $48.0 million in the same quarter of 2024, attributed to factors such as increased depreciation and interest expenses. The company also announced regulatory approvals for rate recoveries and new solar and battery storage capacity at PNM.
TXNM Energy’s ongoing earnings were impacted by additional share issuances and merger-related costs. Despite these challenges, the company achieved constructive regulatory outcomes, including a rate stipulation at PNM and cost recovery approvals for TNMP.
Looking ahead, TXNM Energy’s management remains optimistic about the potential opportunities through its partnership with Blackstone Infrastructure, aiming to bring benefits to customers and communities in New Mexico and Texas.