TXNM Energy Q2 profit more than doubles on higher retail load

TXNM Energy

31/07/2026 11:46

Overview
US regulated utility's Q2 GAAP and ongoing EPS more than doubled yr/yr
Company says higher retail load and rate relief drove earnings growth
Acquisition agreement with Blackstone extended; TNMP rate increase approved

Outlook
TXNM Energy does not plan to issue earnings guidance during the pending Blackstone transaction

Result Drivers
RETAIL LOAD GROWTH - Higher retail load at both PNM and TNMP contributed to earnings growth
RATE RELIEF AND RECOVERY - PNM benefited from rate relief and TNMP from rate recovery mechanisms and interim rates
HIGHER EXPENSES OFFSET GAINS - Higher depreciation, property tax, and interest expenses from new capital investments partially offset earnings gains

Company press release: ID:nPnMj9Wna

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Ongoing EPS
 
$0.58
 

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 5.2% above its July 30 closing price of $57.97
The stock recently traded at 19 times the next 12-month earnings vs. a P/E of 19 three months ago

Reuters Recommended Reads
July 29 - NorthWestern Energy Q2 adjusted EPS beats on new rates, retail volumes
July 30 - Alliant Energy beats quarterly profit estimates on higher rates, data center demand
July 30 - US utility Southern Co tops quarterly profit estimates on strong power demand

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)