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PNM Resources Inc. Q1 adjusted earnings Beat Estimates

PNM Resources Inc. (PNM) announced earnings for its first quarter that rose from the same period last year.

The company's bottom line totaled $18.70 million, or $0.23 per share. This compares with $14.99 million, or $0.19 per share, in last year's first quarter.

Excluding items, PNM Resources Inc. reported adjusted earnings of $10.77 million or $0.13 per share for the period.

Analysts had expected the company to earn $0.11 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 10.0% to $349.65 million from $317.88 million last year.

PNM Resources Inc. earnings at a glance:

-Earnings (Q1): $10.77 Mln. vs. $16.50 Mln. last year.
-EPS (Q1): $0.13 vs. $0.21 last year.
-Analysts Estimate: $0.11
-Revenue (Q1): $349.65 Mln vs. $317.88 Mln last year.

-Guidance:
Full year EPS guidance: $2.10 - $2.20

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