ALBUQUERQUE, N.M.,
March 4,
2024 /PRNewswire/ -- PNM Resources (NYSE: PNM)
management will meet with analysts and investors this week at the
Bank of America conference in New York
City.
During the meetings, management is expected to affirm the
company's 2024 consolidated earnings guidance of $2.65 to $2.75 per
diluted share. Presentation materials are available on the
company's website at
http://www.pnmresources.com/investors/events.cfm.
Background:
PNM Resources (NYSE: PNM) is an energy
holding company based in Albuquerque,
N.M., with 2023 consolidated operating revenues of
$1.9 billion. Through its regulated
utilities, PNM and TNMP, PNM Resources provides electricity to more
than 800,000 homes and businesses in New
Mexico and Texas. PNM
serves its customers with a diverse mix of generation and purchased
power resources totaling 3.1 gigawatts of capacity, with a goal to
achieve 100% emissions-free generation by 2040. For more
information, visit the company's website at
www.PNMResources.com.
CONTACTS:
|
Analysts
|
Media
|
Lisa Goodman
|
Raymond 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, including the unaudited
financial results and earnings guidance, 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 and apply only as of the date of
this report. 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, Form 10-Q filings and the
information included in the Company's Forms 8-K 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 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. Reconciliations
between GAAP and ongoing earnings are contained in schedules
1-4.
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SOURCE PNM Resources, Inc.