Le Lézard
Classified in: Oil industry, Business
Subjects: CCA, ERP

PNM Resources Announces 2020 Ongoing Earnings Guidance, Raises 2019 Ongoing Earnings Guidance


ALBUQUERQUE, N.M., Dec. 18, 2019 /PRNewswire/ -- PNM Resources (NYSE: PNM) management announces the company's 2020 ongoing earnings guidance of $2.16 to $2.26 per diluted share. In addition, management raises its 2019 consolidated ongoing earnings guidance to $2.13 to $2.16 per diluted share.

PNM Resources (PRNewsFoto/PNM Resources, Inc.) (PRNewsfoto/PNM Resources, Inc.)

Management will host a live conference call this morning at 11 a.m. Eastern to discuss details of the guidance and provide company updates. Speaking on the call will be Pat Vincent-Collawn, PNM Resources Chairman, President and CEO, Chuck Eldred, PNM Resources Executive Vice President and CFO, and Don Tarry, PNM Resources Vice President, Controller and Treasurer.

The presentation and live webcast will be available prior to the start of the meeting on PNM Resources' website at http://www.pnmresources.com/investors/events.cfm. Listeners are encouraged to visit the website at least 30 minutes before the event to register, download and install any necessary audio software. The webcast archive will be available following the meeting on the PNM Resources website.

Investors and analysts can participate in the live conference call by pre-registering using the following link to receive a special dial-in number and PIN: http://dpregister.com/10137203. Telephone participants who are unable to pre-register may participate in the live conference call by dialing (877) 276-8648 or (412) 317-5474 fifteen minutes prior to the event and referencing "the PNM Resources 2020 earnings guidance conference call."

Background:
PNM Resources (NYSE: PNM) is an energy holding company based in Albuquerque, N.M., with 2018 consolidated operating revenues of $1.4 billion. Through its regulated utilities, PNM and TNMP, PNM Resources has approximately 2,701 megawatts of generation capacity and provides electricity to more than 785,000 homes and businesses in New Mexico and Texas. For more information, visit the company's website at www.PNMResources.com.

CONTACTS:


Analysts

Media


Lisa Goodman

Ray Sandoval


(505) 241-2160

(505) 241-2782

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
Statements made in this news release for PNM Resources, Inc. ("PNMR"), Public Service Company of New Mexico ("PNM"), or Texas-New Mexico Power Company ("TNMP") (collectively, the "Company") that relate to future events or expectations, projections, estimates, intentions, goals, targets, and strategies are made pursuant to the Private Securities Litigation Reform Act of 1995. Readers are cautioned that all forward-looking statements are based upon current expectations and estimates. PNMR, PNM, and TNMP assume no obligation to update this information. Because actual results may differ materially from those expressed or implied by these forward-looking statements, PNMR, PNM, and TNMP caution readers not to place undue reliance on these statements. PNMR's, PNM's, and TNMP's business, financial condition, cash flow, and operating results are influenced by many factors, which are often beyond their control, that can cause actual results to differ from those expressed or implied by the forward-looking statements. For a discussion of risk factors and other important factors affecting forward-looking statements, please see the Company's Form 10-K and Form 10-Q filings with the Securities and Exchange Commission, which factors are specifically incorporated by reference herein.

Non-GAAP Financial Measures
GAAP refers to generally accepted accounting principles in the U.S. Ongoing earnings is a non-GAAP financial measure that excludes the impact of net unrealized mark-to-market gains and losses on economic hedges, the net change in unrealized gains and losses on investment securities, pension expense related to previously disposed of gas distribution business, and certain non-recurring, infrequent, and other items that are not indicative of fundamental changes in the earnings capacity of the Company's operations. The Company uses ongoing earnings and ongoing earnings per diluted share (or ongoing diluted earnings per share) to evaluate the operations of the Company and to establish goals, including those used for certain aspects of incentive compensation, for management and employees. While the Company believes these financial measures are appropriate and useful for investors, they are not measures presented in accordance with GAAP. The Company does not intend for these measures, or any piece of these measures, to represent any financial measure as defined by GAAP. Furthermore, the Company's calculations of these measures as presented may or may not be comparable to similarly titled measures used by other companies. The Company uses ongoing earnings guidance to provide investors with management's expectations of ongoing financial performance over the period presented. While the Company believes ongoing earnings guidance is an appropriate measure, it is not a measure presented in accordance with GAAP. The Company does not intend for ongoing earnings guidance to represent an expectation of net earnings as defined by GAAP. Since the future differences between GAAP and ongoing earnings are frequently outside the control of the Company, management is generally not able to estimate the impact of the reconciling items between forecasted GAAP net earnings and ongoing earnings guidance, nor their probable impact on GAAP net earnings without unreasonable effort, therefore, management is generally not able to provide a corresponding GAAP equivalent for ongoing earnings guidance.

SOURCE PNM Resources, Inc.


These press releases may also interest you

at 12:30
Aardex, a data-driven, community-minded real estate investment and development firm that has built out more than 1.5 million square feet of projects over the last 40 years, today announced the launch of a new company, Stellera, which will focus on...

at 12:30
The Municipality of Clarington, as a founding member of the Canadian Association of Nuclear Host Communities (CANHC), joined heads of state, representatives from the nuclear industry and non-governmental organizations at the first-ever Nuclear Energy...

at 12:00
TRC Companies, Inc. (TRC), a global professional services firm providing integrated strategy, consulting, engineering and applied technologies in support of the energy transition, received an award from Climate Change Business Journal ® (CCBJ) for...

at 11:45
The "Oil and Gas Pumps Market: A Global and Regional Analysis, 2023-2033" report has been added to  ResearchAndMarkets.com's offering. The global market for oil and gas pumps has witnessed substantial growth, propelled by various key factors and...

at 11:40
American Resources Corporation's ("American Resources" or the "Company")...

at 11:38
AtkinsRéalis, a fully integrated professional services and project management company with offices around the world, welcomes Kinectrics Inc., a global provider of nuclear lifecycle services, as a new ambassador in support of the Canadians for CANDU...



News published on and distributed by: