TXNM Q3 Ongoing EPS Jumps to $1.62 as Blackstone Deal Slips to 1H 2027
TXNM is trading near its 52-week low of $55.64 (5.4% above the low).
Summary
TXNM posted Q3 2026 GAAP diluted EPS of $1.50 and ongoing EPS of $1.62, up from $1.22 and $1.33 a year ago, with GAAP net earnings attributable to TXNM of $163.4 million versus $130.7 million and revenue of $733.3 million. Both utilities drove the gain: PNM EPS rose to $1.17 GAAP on rate relief and higher retail load, and TNMP to $0.50 on base-rate relief and DCRF/TCOS recoveries. The company still won't issue guidance while the Blackstone deal is pending. On the merger, the NMPRC accepted the amended application on October 16 and hearing examiners set evidentiary hearings for January 19 through February 1, 2027, pushing the expected close to the first half of 2027 at $61.25 per share. Separately, TNMP asked Texas regulators for $77.9 million of DCRF and $27.0 million of TCOS incremental revenue, and PNM expects to file today for a $595 million 345 kV transmission project. The stock sits near its 52-week high, so the earnings beat is largely priced in; the NMPRC hearing calendar is the real swing factor for the $61.25 deal price.
At the time of this announcement, TXNM was trading at $58.65 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $6.5B. The 52-week trading range was $55.64 to $59.53. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: PR Newswire.