PNM Subsidiaries File 8-K on Financial Condition & Operations

TL;DR

**PNM's subsidiaries just dropped an 8-K, signaling fresh financial results are out.**

AI Summary

PNM Resources Inc. (PNM) filed an 8-K on February 6, 2024, indicating that its subsidiaries, Public Service Company of New Mexico and Texas New Mexico Power Company, are reporting on their 'Results of Operations and Financial Condition' and 'Financial Statements and Exhibits.' This filing signals that PNM is providing updated financial information, which is crucial for investors to assess the company's recent performance and financial health, potentially impacting future stock valuation.

Why It Matters

This filing provides investors with updated financial information from PNM's key operating subsidiaries, which is essential for evaluating the company's current performance and future prospects.

Risk Assessment

Risk Level: low — This 8-K is a routine disclosure of financial information, not indicating any immediate adverse events or significant changes in company strategy.

Analyst Insight

A smart investor would review the detailed financial statements and results of operations once they become available to understand the performance of PNM's key subsidiaries and assess the company's overall financial health.

Key Players & Entities

• PNM RESOURCES INC (company) — Registrant filing the 8-K
• Public Service Company of New Mexico (company) — Subsidiary of PNM Resources Inc.
• Texas New Mexico Power Company (company) — Subsidiary of PNM Resources Inc.
• February 6, 2024 (date) — Date of earliest event reported and filing date

FAQ

Filing Documents

• pnm-20240206.htm (8-K) — 38KB
• exhibit99102062024earnings.htm (EX-99.1) — 329KB
• 0001108426-24-000004.txt ( ) — 561KB
• pnm-20240206.xsd (EX-101.SCH) — 3KB
• pnm-20240206_def.xml (EX-101.DEF) — 15KB
• pnm-20240206_lab.xml (EX-101.LAB) — 30KB
• pnm-20240206_pre.xml (EX-101.PRE) — 16KB
• pnm-20240206_htm.xml (XML) — 5KB

02 Results of Operations and Financial Condition

Item 2.02 Results of Operations and Financial Condition. On February 6, 2024, PNM Resources, Inc., Public Service Company of New Mexico, and Texas-New Mexico Power Company (collectively, the "Company") issued a press release announcing preliminary results of operations for the three months and year ended December 31, 2023. The press release is furnished herewith as Exhibit 99.1 and incorporated by reference herein. The Company's press release and other communications from time to time may include certain financial measures that are not determined in accordance with generally accepted accounting principles in the United States of America ("GAAP"). A "non-GAAP financial measure" is defined as a numerical measure of a company's financial performance, financial position or cash flows that excludes (or includes) amounts that are included in (or excluded from) the most directly comparable measure calculated and presented in accordance with GAAP in the company's financial statements. Non-GAAP financial measures utilized by the Company include presentations, on an ongoing basis, of revenues, operating expenses, operating income, other income and deductions, earnings, and earnings per share. The Company uses ongoing earnings and ongoing earnings per diluted share (or ongoing diluted earnings per share) to evaluate the operations of the Company and to establish goals, including those used for certain aspects of incentive compensation, for management and employees. Certain non-GAAP financial measures utilized by the Company exclude the impact of net unrealized mark-to-market gains, the net change in unrealized gains and losses on investment securities, pension expense related to previously disposed of gas distribution business, and certain non-recurring, infrequent, and other items. The Company's management believes that these non-GAAP financial measures provide useful information to investors by removing the effect of variances in GAAP reported results of operations tha

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits: Exhibit Number Description 99.1 Press Release dated February 6 , 202 4 . 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned thereunto duly authorized. PNM RESOURCES, INC. PUBLIC SERVICE COMPANY OF NEW MEXICO TEXAS-NEW MEXICO POWER COMPANY (Registrants) Date: February 6, 2024 /s/ Gerald R. Bischoff Gerald R. Bischoff Vice President and Corporate Controller (Officer duly authorized to sign this report)

View Full Filing

View this 8-K filing on SEC EDGAR