TXNM Energy Q3 ongoing EPS rises on rate relief, higher demand
TXNM•TXNM Energy's third-quarter ongoing EPS rose year over year to $1.62, while GAAP diluted EPS increased to $1.50 from $1.22. The company expects its proposed acquisition by Blackstone Infrastructure to close in the first half of 2027.
1. Quarterly results
TXNM Energy said its third-quarter ongoing EPS rose year over year to $1.62. GAAP diluted EPS increased to $1.50 from $1.22 a year earlier.
2. Drivers and outlook
Approved rate increases at PNM and TNMP and higher energy demand during record-breaking summer heat contributed to results, the company said. Higher depreciation, property tax and interest expense from new capital investments partially offset the gains. TXNM Energy does not plan to issue earnings guidance while the proposed Blackstone Infrastructure transaction is pending, and expects it to close in the first half of 2027.
