TXNM Energy today released its financial results for the third quarter of 2024, reporting GAAP net earnings attributable to TXNM Energy of $131.2 million, or $1.45 per diluted share. This represents a significant increase compared to $37.7 million, or $0.44 per diluted share, in the third quarter of 2023.
The company's ongoing net earnings for the third quarter of 2024 were $129.3 million, or $1.43 per diluted share, compared to $132.9 million, or $1.54 per diluted share, in the prior year period. Management expressed satisfaction with the quarter's performance, highlighting the recent approval of PNM's Grid Modernization Plan as a key strategic advancement.
In conjunction with the earnings release, TXNM Energy narrowed its 2024 consolidated ongoing earnings guidance to a range of $2.70 to $2.75 per diluted share. This updated outlook reflects the company's commitment to a reliable and resilient grid across its New Mexico and Texas service territories.
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