FX.co ★ PNM Resources Inc. Q1 Profit Decreases, but beats estimates

PNM Resources Inc., reported a decrease in earnings for the first quarter compared to the same period last year, but nonetheless managed to surpass Wall Street estimations.

The corporation posted earnings of $47.19 million or $0.52 per share. This is lower compared to the $55.014 million or $0.64 per share recorded during the first quarter of the previous year.

When special items are excluded, PNM Resources Inc. reported an adjusted earnings of $36.956 million or $0.41 per share for this quarter.

According to the data compiled by Thomson Reuters, analysts had predicted on average the company would earn $0.4 per share, typically excluding special items.

The revenue of the company for this quarter was down by 19.7%, falling from $544.077 million last year to $436.877 million.

Looking at the overall performance of PNM Resources Inc. (according to GAAP); the company's earnings for the first quarter was $47.19 million as opposed to the $55.014 million last year. The EPS for the first quarter was $0.52 compared to $0.64 during the same period the previous year. Meanwhile, the revenue for this year's first quarter is pegged at $436.877 million versus last year's $544.077 million.

The corporation's guidance for the full year's EPS is predicted to be somewhere between $2.65 and $2.75.