logo
Plus   Neg
Share
Email

PNM Resources Lowers FY19 Ongoing EPS Outlook - Quick Facts

Energy holding company PNM Resources (PNM) on Friday lowered its 2019 consolidated ongoing earnings guidance to a range of $2.05 to $2.11 per share driven by substantially milder temperatures in New Mexico during the second quarter.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $2.15 per share for the year. Analysts' estimates typically exclude special items.

The PNM service territory experienced its mildest second quarter over the last 19 years, resulting in 37% lower cooling degree-days and lower expectations for second quarter ongoing earnings. The company has initiated plans to mitigate some of these impacts.

In early May, PNM raised the upper end of its consolidated ongoing earnings guidance to a range of $2.10 to $2.20 per diluted share for 2019 to reflect the continued growth in New Mexico

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Food and Drug Administration or FDA announced on its website that pharma major Pfizer, Inc. issued recall of two lots of tablets meant to treat acute migraine in adults for concerns over bacteria infection. The pharma company is recalling two lots of Relpax (eletriptan hydrobromide) 40 mg tablets for potential presence of Genus Pseudomonas and Burkholderia bacteria. Cosmetics company Revlon Inc. (REV) is reportedly considering a potential sale of parts or all of its business. According to Bloomberg, Revlon has retained financial advisers from Goldman Sachs Group Inc. to explore strategic alternatives. No deal has been reached yet, but Revlon is exploring all... China's Lenovo Group Ltd. warned it may have to raise prices of its products if the U.S. moves ahead with the decision to impose additional tariffs on Chinese goods, according to a report by Reuters. The warning by Lenovo, the world's largest PC maker, comes amid the escalating trade war between the U.S. and China that has raised concerns about the global economic outlook.
Follow RTT