TXNM Energy Q1 GAAP EPS falls

TXNM Energy

01/05/2026 11:49

Overview

US regulated utility's Q1 ongoing EPS rose yr/yr; GAAP EPS declined sharply

Company updated 2026-2030 capital investment plan to $10.2 bln

Lower GAAP earnings due to higher unrealized investment losses and costs related to pending acquisition

Outlook

TXNM Energy does not plan to issue 2026 earnings guidance during pending acquisition

Company expects Blackstone Infrastructure acquisition to close in second half of 2026

TXNM Energy updates 2026-2030 capital investment plan to $10.2 bln

Result Drivers

RATE RELIEF AND HIGHER COSTS - PNM saw rate relief and higher transmission revenues, but these were offset by lower retail load from mild weather and increased expenses from new capital investments and energy storage agreements

RATE RECOVERY AND LEGISLATIVE REVENUES - TNMP earnings benefited from rate recovery mechanisms and revenues under Texas House Bill 5247, but were partially offset by lower retail load from mild weather and higher costs from capital investments

SHARE ISSUANCE IMPACT - Increased shares outstanding from equity raises in 2025 and 2026 reduced EPS

Company press release: ID:nPn4chvPGa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Ongoing EPS
$0.21
Q1 EPS
$0.03


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the electric utilities peer group is "buy."

Wall Street's median 12-month price target for TXNM Energy Inc is $61.00, about 3.3% above its April 30 closing price of $59.06

The stock recently traded at 19 times the next 12-month earnings vs. a P/E of 20 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)