PNM - What's in the Cards for PNM Resources This Earnings Season? | Benzinga
PNM Resources (NYSE: PNM) is scheduled to release first-quarter 2024 results on Apr 30, before market open. The company delivered an earnings surprise of 20% in the last reported quarter.
Let's discuss the factors that are likely to be reflected in the upcoming quarterly results.
Factors to Consider
PNM Resources' first-quarter earnings are likely to have gained from increased load growth and higher transmission margins. The new rates, effective since January 2024, are also expected to have boosted first-quarter earnings.
However, still high interest rates and increased depreciation and property tax might have offset some positives in the to-be-reported quarter.
Q1 Expectations
The Zacks Consensus Estimate for first-quarter earnings is pegged at 68 cents per share, indicating a year-over-year increase of 23.6%.
The Zacks Consensus Estimate for revenues is pinned at $588.84 million, implying an 8.2% improvement year over year.