TXNM Q3 EPS Jumps to $1.50 as TNMP Rate Relief Lifts Results; Blackstone Deal Hearings Set for January
TXNM is trading near its 52-week low of $55.64 (4.9% above the low).
Summary
TXNM reported Q3 diluted EPS of $1.50 versus $1.22 a year ago, helped by new TNMP and PNM rates, and confirmed New Mexico merger hearings for January 2027, with the Blackstone buyout still expected to close in the first half of 2027.
Key Events · Earnings and Guidance · TXNM
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Q3 EPS Rises to $1.50
Diluted EPS of $1.50 versus $1.22 a year ago, with net earnings attributable to TXNM of $163.4 million versus $130.7 million. Nine-month diluted EPS was $2.15 versus $1.63.
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Rate Relief Drives TNMP and PNM
TNMP segment earnings rose to $54.0 million from $41.1 million, including $10.9 million of HB 5247 revenue and $4.3 million from warmer weather. At PNM, utility margin rose $63.6 million, including $16.2 million from the 2025 Rate Request.
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Trust Investment Loss Hits PNM
PNM other income fell to a $3.7 million deduction from $17.3 million of income, driven by a $21.3 million swing in investment securities held in the nuclear decommissioning and coal mine reclamation trusts — a non-cash item.
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Merger Hearings Set for January 2027
The NMPRC accepted the revised merger application on October 16, 2026, with $220.0 million of retail rate credits over 10 years; evidentiary hearings run January 19 through February 1, 2027. The $61.25 per share cash merger is still expected to close in the first half of 2027.
Analysis · TXNM · Energy & Transportation
TXNM's third quarter came in well ahead of last year, with diluted EPS of $1.50 versus $1.22 and nine-month EPS at $2.15 versus $1.63. Most of the improvement is regulatory rather than organic: TNMP's new base rates and the HB 5247 tracker added $10.9 million of revenue in the quarter, while PNM's 2025 rate increase contributed $16.2 million of margin. Offsetting that, PNM's trust investments swung to a $9.9 million loss from an $11.4 million gain a year ago — a non-cash drag tied to market performance. For holders, the bigger story is the pending $61.25 per share all-cash Blackstone merger: New Mexico regulators accepted a revised application with $220 million of rate credits and scheduled evidentiary hearings for January 19 through February 1, 2027, and the company still guides to a first-half 2027 close. Until that vote concludes, the stock trades on deal probability, not on quarterly earnings.
How filings like this one have moved
In the 30 days to Oct 31, 2026, 31.7% of the 1731 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was 0.00%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, TXNM was trading at $58.38 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $6.4B. The 52-week trading range was $55.64 to $59.53. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.