PNM Resources: 3Q Earnings Snapshot
ALBUQUERQUE, N.M. (AP) _ PNM Resources Inc. (PNM) on Tuesday reported third-quarter profit of $87.7 million.
The Albuquerque, New Mexico-based company said it had profit of $1.09 per share. Earnings, adjusted for non-recurring gains, came to $1.08 per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.04 per share.
The power company posted revenue of $422.7 million in the period.
PNM Resources expects full-year earnings in the range of $1.95 to $1.98 per share.
PNM Resources shares have dropped nearly 4 percent since the beginning of the year. The stock has fallen 8 percent in the last 12 months.