The following is a summary of the TXNM Energy, Inc. (TXNM) Q3 2024 Earnings Call Transcript:
Financial Performance:
TXNM Energy reported Q3 2024 ongoing earnings of $1.43 per share, a decrease from the previous year.
They have narrowed their guidance for annual earnings to a range of $2.70 to $2.75 per share.
Earnings were primarily supported by the recovery of capital investments through DCRF and TCOS at TNMP.
Business Progress:
TXNM Energy has ongoing customer-focused investments in both New Mexico and Texas to build a cleaner and more resilient grid.
Significant initiatives include PNM's grid modernization plan, DOE-funded virtual power plant project, and TNMP's file system resiliency plan.
They have implemented regulatory filings, including the System Resiliency Plan encompassing $600 million in capital investments.
Opportunities:
Investments in grid modernization and system resiliency could enhance customer control over energy bills and improve responses to extreme weather events.
Risks:
Growth from AI services and new technology integration may be gradual, posing risks related to scalability and general availability.
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
