TXNM Energy's stock soared 6.24% in early trading on Friday following the release of its strong fourth-quarter earnings results and upbeat guidance for 2025.
The New Mexico-based energy company reported fourth-quarter ongoing earnings of $0.30 per diluted share, in line with analysts' expectations. Despite a decline in net earnings compared to the same quarter last year due to regulatory disallowances, the company's underlying performance remained solid driven by higher realized gains, increased customer usage, and improved rates.
Looking ahead, TXNM Energy issued an optimistic 2025 earnings guidance range of $2.74 to $2.84 per diluted share, reflecting strong growth in its Texas service territory and the implementation of a phased-in rate increase for its New Mexico customers. The company also raised its long-term earnings growth target to 7% to 9%, backed by significant investments in grid infrastructure and transmission projects.
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