Albuquerque-Based PNM Resources Posts 3Q Earnings Of $73.7M

ALBUQUERQUE, NM — PNM Resources Inc. (PNM), based in Albuquerque, New Mexico, reported Friday third-quarter earnings of $73.7 million. On a per-share basis the power company said it had net income of 92 cents.

Earnings, adjusted for non-recurring costs, came to 93 cents per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 85 cents per share.

The power company posted revenue of $419.9 million in the period.

PNM Resources expects full-year earnings in the range of $1.77 to $1.87 per share.

PNM Resources shares have increased 23 percent since the beginning of the year. The stock has increased 32 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

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