PNM Resources Inc. (PNM) reported that its fourth-quarter net earnings attributable to the company were $9.09 million or $0.11 per share, down from $111.99 million or $1.35 per share in the same quarter last year. The company said that its prior year quarter result included a $97.00 million gain from sale of First Choice Power.
Ongoing Earnings for the quarter was $10.48 million or $0.13 per share, compared to $18.62 million or $0.22 per share in the same quarter last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.12 per share for the quarter. Analysts' estimates typically exclude special items.Quarterly ongoing earnings in 2011 included the contributions of the company's former competitive businesses, First Choice Power and Optim Energy. GAAP earnings in 2011 included First Choice Power, but Optim Energy had no impact on GAAP results.
The company affirmed 2013 consolidated ongoing earnings range of $1.32 and $1.42 per share. Analysts polled by Thomson Reuters expected the company to report earnings of $1.38 per share for fiscal 2013.
The PNM Resources Board of Directors on Thursday unanimously voted to increase the company's dividend payment by 14 percent to an indicated annual rate of $0.66 per share of common stock. As a result, the board has declared the quarterly common stock dividend of $0.165 per share, payable May 15, 2013, to shareholders of record at the close of business April 19, 2013.
For comments and feedback contact: editorial@rttnews.com
Business News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.