ALBUQUERQUE, N.M., Dec. 18, 2015 /PRNewswire/ -- PNM Resources' (NYSE: PNM) management today will discuss the company's 2016 ongoing earnings guidance of $1.55 to $1.76 per diluted share. Expectations for 2016 will be driven by the pending rate case in N.M. Also today, management affirmed the company's 2015 consolidated ongoing earnings guidance of $1.56 to $1.61 per diluted share.
"We expect to finish 2015 on track and we look forward to our 2016 plans to support continued growth in Texas and recover capital investments made since the 2010 rate case in New Mexico," said Pat Vincent-Collawn, PNM Resources' chairman, president, and CEO. "We remain focused on serving our customers and working with all of our stakeholders to balance their needs for reliable, affordable, and environmentally sustainable power."
Management will host a live conference call this morning at 11 a.m. Eastern to discuss details of the guidance range and provide company updates. Speaking on the call will be Pat Vincent-Collawn, PNM Resources chairman, president and CEO, and Chuck Eldred, PNM Resources executive vice president and CFO.
A live webcast of the call will be archived at http://www.pnmresources.com/investors/events.cfm. Listeners are encouraged to visit the website at least 30 minutes before the event to register, download and install any necessary audio software. Investors and analysts can participate in the live conference call by pre-registering using the following link to receive a special dial-in number and PIN: http://dpregister.com/10076415. Telephone participants who are unable to pre-register may participate in the live conference call by dialing (877) 276-8648 or (412) 317-5474 fifteen minutes prior to the event and referencing ''the PNM Resources 2016 earnings guidance conference call.''
Background:
PNM Resources (NYSE: PNM) is an energy holding company based in Albuquerque, N.M., with 2014 consolidated operating revenues of $1.4 billion. Through its regulated utilities, Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP), PNM Resources has approximately 2,707 megawatts of generation capacity and provides electricity to more than 753,000 homes and businesses in New Mexico and Texas. For more information, visit the company's website at www.PNMResources.com.
|
CONTACTS:
|
|
|
|
Analysts
|
Media
|
|
Jimmie Blotter
|
Pahl Shipley
|
|
(505) 241-2227
|
(505) 241-2782
|
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
Statements made in this news release that relate to future events or PNM Resources' ("PNMR"), Public Service Company of New Mexico's ("PNM"), or Texas-New Mexico Power Company's ("TNMP") (collectively, the "Company") expectations, projections, estimates, intentions, goals, targets, and strategies are made pursuant to the Private Securities Litigation Reform Act of 1995. Readers are cautioned that all forward-looking statements are based upon current expectations and estimates. PNMR, PNM, and TNMP assume no obligation to update this information. Because actual results may differ materially from those expressed or implied by these forward-looking statements, PNMR, PNM, and TNMP caution readers not to place undue reliance on these statements. PNMR's, PNM's, and TNMP's business, financial condition, cash flow, and operating results are influenced by many factors, which are often beyond their control, that can cause actual results to differ from those expressed or implied by the forward-looking statements. For a discussion of risk factors and other important factors affecting forward-looking statements, please see the Company's Form 10-K and Form 10-Q filings with the Securities and Exchange Commission, which factors are specifically incorporated by reference herein.
Non-GAAP Financial Measures
The Company uses ongoing earnings and ongoing earnings per diluted share (or ongoing diluted earnings per share) to evaluate the operations of the Company and to establish goals for management and employees. While the Company believes these financial measures are appropriate and useful for investors, they are not measures presented in accordance with generally accepted accounting principles in the U.S. ("GAAP"). The Company does not intend for these measures, or any piece of these measures, to represent any financial measure as defined by GAAP. Furthermore, the Company's calculations of these measures as presented may or may not be comparable to similarly titled measures used by other companies. The Company uses ongoing earnings guidance to provide investors with management's expectations of ongoing financial performance over the period presented. While the Company believes ongoing earnings guidance is an appropriate measure, it is not a measure presented in accordance with GAAP. The Company does not intend for ongoing earnings guidance to represent an expectation of net earnings as defined by GAAP. Management is generally not able to estimate the impact of the reconciling items between ongoing earnings guidance and forecasted GAAP net earnings, nor their probable impact on GAAP net earnings; therefore, management is generally not able to provide a corresponding GAAP equivalent for earnings guidance.
Logo - http://photos.prnewswire.com/prnh/20151104/284109LOGO
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/pnm-resources-management-reviews-2016-ongoing-earnings-guidance-300195042.html
SOURCE PNM Resources
