PNM Resources: 3Q Earnings Snapshot

November 6, 2018

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.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PNM at https://www.zacks.com/ap/PNM

Update hourly