PNM Resources Q4'18 ongoing earnings beat Street estimates
PNM Resources Inc. on Feb. 27 announced ongoing net earnings of $14.7 million, or 18 cents per share, in the fourth quarter, down from $19.4 million, or 24 cents per share, a year ago. The results beat the S&P Global Market Intelligence consensus normalized EPS estimate for the quarter of 16 cents.
GAAP net loss attributable to the company was $55.1 million, or a loss of 69 cents per share, from a loss of $54.3 million, or a loss of 68 cents per share, in the same quarter a year earlier.
Fourth-quarter 2017 GAAP earnings reflect a $20.0 million net charge for the impacts of the reduction in the federal corporate income tax rate from the federal Tax Cuts and Jobs Act on net deferred income tax as...