PNM Resources Inc. Announces 91% Fall In Q2 Bottom Line

(RTTNews) - PNM Resources Inc. (PNM) reported a profit for second quarter that decreased from last year.

The company said its earnings fell to $32.1 million, or $0.40 per share. This was lower than $354 million, or $0.44 per share, in last year's second quarter.

Analysts had expected the company to earn $0.39 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 10.6% to $315.39 million. This was down from $352.89 million last year.

PNM Resources Inc. earnings at a glance:

-Earnings (Q2): $32.1 Mln. vs. $354 Mln. last year. -Earnings Decline (Y-o-Y): -90.9% -EPS (Q2): $0.40 vs. $0.44 last year. -EPS Decline (Y-o-Y): -9.1% -Analysts Estimate: $0.39 -Revenue (Q2): $315.39 Mln vs. $352.89 Mln last year. -Revenue Change (Y-o-Y): -10.6%

-Guidance: Full year EPS guidance: $1.55 - $1.65