TXNM Energy Q3 ongoing EPS rises on rate relief, higher demand
Overview
US regulated utility's Q3 ongoing EPS rose yr/yr to $1.62
GAAP diluted EPS for Q3 increased to $1.50 from $1.22 last year
Company expects Blackstone Infrastructure acquisition to close in first half of 2027
Outlook
TXNM Energy does not plan to issue earnings guidance during pendency of proposed Blackstone transaction
Result Drivers
RATE RELIEF - Co said Q3 results benefited from approved rate increases at both PNM and TNMP
HIGHER RETAIL LOAD - Co said record-breaking summer heat led to increased energy demand and new system peaks
NEW CAPITAL INVESTMENTS - Co said higher depreciation, property tax and interest expense from new capital investments partially offset earnings gains
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Adjusted EPS | $1.62 |
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 3 "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 4% above its October 29 closing price of $58.65
The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 18 three months ago
Reuters Recommended Reads
Oct 28 - American Electric Power Q3 revenue rises 13.7%, beats estimates
Oct 27 - CenterPoint Energy Q3 adjusted EPS beats estimates, raises 2026 outlook
Oct 29 - Xcel Energy Q3 profit rises on electric infrastructure recovery, narrows outlook
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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.)