TXNM Energy Earnings Call Transcripts
Fiscal Year 2025
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TXNM Energy will be acquired by Blackstone Infrastructure for $61.25 per share in cash, a 23% premium, with no added debt and $800 million in equity secured pre-close. The deal preserves local operations, ensures no workforce reductions for two years, and is subject to regulatory approvals expected to conclude in the second half of 2026.
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Q1 2025 EPS was $0.19, matching expectations, with strong demand growth at TNMP and regulatory progress in both Texas and New Mexico. 2025 EPS guidance of $2.74-$2.84 and a 7%-9% long-term growth target were reaffirmed, while capital plans remain unchanged.
Fiscal Year 2024
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2024 EPS reached $2.74, at the high end of guidance, with 2025 guidance set at $2.74–$2.84. The five-year capital plan increased to $7.8 billion, targeting 7%-9% EPS growth, driven by strong Texas demand, regulatory settlements, and major grid investments.
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Q3 EPS was $1.43, with full-year guidance narrowed to $2.70–$2.75 and a 6%–7% EPS growth target through 2028. Major grid modernization and resiliency investments are underway, supported by positive regulatory outcomes and DOE funding, with incremental CapEx expected from ERCOT projects.
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Q2 2024 EPS rose to $0.60, beating expectations, with 2024 guidance reaffirmed at $2.65-$2.75. Major investments in Texas resiliency and transmission are planned, and the company will rebrand as TXNM Energy next week.
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The meeting covered board introductions, five key management proposals, and voting procedures. All proposals—including director elections, auditor ratification, executive compensation, share authorization increase, and a company name change—were approved.