PNM Resources: 2Q Earnings Snapshot
ALBUQUERQUE, N.M. (AP) _ PNM Resources Inc. (PNM) on Tuesday reported second-quarter earnings of $38.3 million.
On a per-share basis, the Albuquerque, New Mexico-based company said it had profit of 48 cents. Earnings, adjusted for non-recurring costs, were 53 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 43 cents per share.
The power company posted revenue of $352.3 million in the period.
PNM Resources expects full-year earnings in the range of $1.91 to $1.98 per share.
PNM Resources shares have fallen nearly 6 percent since the beginning of the year. The stock has declined nearly 3 percent in the last 12 months.