A month has gone by since the last earnings report for PNM Resources (PNM Quick QuotePNM - Free Report) . Shares have added about 2% in that time frame, underperforming the S&P 500.

Will the recent positive trend continue leading up to its next earnings release, or is PNM Resources due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.

PNM Resources' 2020 Earnings and Revenues Up Y/Y

PNM Resources reported 2020 earnings of $2.28 per share, increasing 5.6% from the year-ago figure.

GAAP earnings for 2020 were $2.15 per share compared with 97 cents in 2019.

Total Revenues

Operating revenues for 2020 of $1,523.1 million were up 4.5% from $1,457.6 million in 2019.

Highlights of the Release

Total operating expenses for the year under review summed $1,237.7 million, down 5.8% from $1,313.4 million in 2019.

Operating income for 2020 was $285.3 million, up 97.8% from $144.2 million in 2019.

PNM Resources and AVANGRID have entered into a merger agreement. This merger, which is anticipated to close in second-half 2021, will create a utility with more than 7.4 gigawatts of renewable energy assets.

Guidance

The company reaffirmed its 2021 earnings per share guidance in the range of $2.27-$2.37, the midpoint of which is $2.32, higher than the Zacks Consensus Estimate of $2.28.

It is focused on strengthening its infrastructure and plans to invest $3.96 billion in the 2021-2025 time period for the same.

 

How Have Estimates Been Moving Since Then?

Analysts were quiet during the last two month period as none of them issued any earnings estimate revisions.