PNM Resources Affirms 2020 Ongoing Earnings Guidance - Quick Facts

(RTTNews) - PNM Resources (PNM) has affirmed its 2020 consolidated ongoing earnings guidance of $2.16 to $2.26 per share. The company continues to monitor current load and operational indicators in light of the anticipated impacts from COVID-19. PNM expects that load trends will begin to reflect economic changes in the second quarter and currently anticipates the impacts can be managed within ongoing earnings guidance.

First quarter ongoing earnings per share was $0.18 compared to $0.11, prior year. On average, 3 analysts polled by Thomson Reuters expected the company to report profit per share of $0.17, for the quarter. Analysts' estimates typically exclude special items.

First quarter total electric operating revenues declined year-on-year to $333.62 million from $349.65 million.