PNM Resources Second Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags

PNM Resources (NYSE:PNM) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$488.1m (up 2.3% from 2Q 2023).
• Net income: US$48.0m (up 6.1% from 2Q 2023).
• Profit margin: 9.8% (in line with 2Q 2023).
• EPS: US$0.53 (up from US$0.53 in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

PNM Resources Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) missed analyst estimates by 1.9%.

Looking ahead, revenue is forecast to grow 8.1% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Electric Utilities industry in the US.

Performance of the American Electric Utilities industry.

The company's shares are up 1.8% from a week ago.

Risk Analysis

Be aware that PNM Resources is showing 5 warning signs in our investment analysis and 1 of those is potentially serious...

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