ALBUQUERQUE, N.M., Aug. 17, 2016 /PRNewswire/ -- PNM Resources
(NYSE: PNM) management will meet with analysts and investors this
week in Wisconsin.
Management is expected to affirm the company's 2016 consolidated
ongoing earnings guidance of $1.55 to
$1.65 per diluted share during the meetings.
Background:
PNM Resources (NYSE: PNM) is an energy
holding company based in Albuquerque,
N.M., with 2015 consolidated operating revenues of
$1.4 billion. Through its regulated
utilities, PNM and TNMP, PNM Resources has approximately 2,787
megawatts of generation capacity and provides electricity to more
than 760,000 homes and businesses in New
Mexico and Texas. For more
information, visit the company's website at
www.PNMResources.com.
CONTACTS:
|
|
Analysts
|
Media
|
Jimmie
Blotter
|
Pahl
Shipley
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(505)
241-2227
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(505)
241-2782
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Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995
Statements made in this news release that
relate to future events or PNM Resources, Inc.'s ("PNMR"), Public
Service Company of New Mexico's
("PNM"), or Texas-New Mexico Power Company's ("TNMP")
(collectively, the "Company") expectations, projections, estimates,
intentions, goals, targets, and strategies are made pursuant to the
Private Securities Litigation Reform Act of 1995. Readers are
cautioned that all forward-looking statements are based upon
current expectations and estimates. PNMR, PNM, and TNMP assume no
obligation to update this information. Because actual results may
differ materially from those expressed or implied by these
forward-looking statements, PNMR, PNM, and TNMP caution readers not
to place undue reliance on these statements. PNMR's, PNM's, and
TNMP's business, financial condition, cash flow, and operating
results are influenced by many factors, which are often beyond
their control, that can cause actual results to differ from those
expressed or implied by the forward-looking statements. For a
discussion of risk factors and other important factors affecting
forward-looking statements, please see the Company's Form 10-K and
Form 10-Q filings with the Securities and Exchange Commission,
which factors are specifically incorporated by reference
herein.
Non-GAAP Financial Measures
GAAP refers to generally
accepted accounting principles in the U.S. Ongoing earnings is a
non-GAAP financial measure that excludes the impact of net
unrealized mark-to-market gains and losses on economic hedges, the
net change in unrealized impairments on available-for-sale
securities, and certain non-recurring or infrequent items. 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. While the Company believes these financial measures
are appropriate and useful for investors, they are not measures
presented in accordance with GAAP. The Company does not intend for
these measures, or any piece of these measures, to represent any
financial measure as defined by GAAP. Furthermore, the Company's
calculations of these measures as presented may or may not be
comparable to similarly titled measures used by other companies.
The Company uses ongoing earnings guidance to provide investors
with management's expectations of ongoing financial performance
over the period presented. While the Company believes ongoing
earnings guidance is an appropriate measure, it is not a measure
presented in accordance with GAAP. The Company does not intend for
ongoing earnings guidance to represent an expectation of net
earnings as defined by GAAP. Since the future differences between
GAAP and ongoing earnings are frequently outside the control of the
Company, management is generally not able to estimate the impact of
the reconciling items between forecasted GAAP net earnings and
ongoing earnings guidance, nor their probable impact on GAAP net
earnings; therefore, management is generally not able to provide a
corresponding GAAP equivalent for ongoing earnings guidance.
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SOURCE PNM Resources