PNM Resources (PNM) reported that its first-quarter earnings decreased to $10.6 million, or $0.13 per share, from $17.1 million, or $0.21 per share, last year. Consolidated ongoing earnings slightly increased to $14.7 million, or $0.18 per share, from $13.5 million, or $0.17 per share, last year.
On average, five analysts polled by Thomson Reuters expected the company to report profit of $0.19 per share for the quarter. Analysts' estimates typically exclude special items.
PNM Resources affirmed its 2013 financial outlook. Management expects 2013 consolidated ongoing earnings to be in the range of $1.32-$1.42 per share. Analysts expect the company to report 2013 profit per share of $1.38.
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