ALBUQUERQUE, N.M. - TXNM Energy (NYSE:TXNM) reported first quarter 2025 earnings that fell short of analyst expectations, despite higher-than-anticipated revenue. The company reaffirmed its full-year guidance.
TXNM Energy shares edged down 0.38% in pre-market trading following the earnings release.
The New Mexico-based utility posted adjusted earnings per share of $0.19 for Q1, missing the analyst consensus of $0.31. Revenue came in at $482.79 million, surpassing estimates of $456.2 million and rising 10.5% YoY.
TXNM’s GAAP earnings per share dropped to $0.10 from $0.52 in the same quarter last year. The company cited lower transmission margins, increased insurance premiums, and higher depreciation and interest expenses as factors impacting results.
"Earnings results in the first quarter are on track with full year expectations," said Pat Collawn, TXNM Energy Chair and CEO. "TNMP reflects another quarter of strong growth and capital recovery, and PNM’s unopposed rate case stipulation continues to move through the regulatory approval process."
TXNM affirmed its 2025 ongoing earnings guidance range of $2.74 to $2.84 per diluted share, in line with the $2.79 analyst consensus. The company also maintained its long-term earnings growth target of 7% to 9%.
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