PNM Resources Announces 2014 Ongoing Earnings Guidance Range

  PNM Resources Announces 2014 Ongoing Earnings Guidance Range

            Dividend Increased 12 percent, 2013 guidance affirmed
      Company to provide details during webcast today at 11 a.m. Eastern

Business Wire

ALBUQUERQUE, N.M. -- December 6, 2013

PNM Resources (NYSE: PNM) management today announced the company’s 2014
consolidated ongoing earnings guidance range of $1.42 to $1.52 per diluted

In addition, on Wednesday the PNM Resources Board of Directors unanimously
voted to increase the company’s dividend payment by 12 percent to an indicated
annual rate of $0.74 per share of common stock. As a result, the board has
declared the quarterly common stock dividend of $0.185 per share, payable Feb.
14, 2014, to shareholders of record at the close of business Jan. 23, 2014.

“These numbers reflect the company’s continued solid performance and strong
balance sheet, our focus on effective management of the business, and our
ongoing success in achieving constructive regulatory outcomes,” said Pat
Vincent-Collawn, PNM Resources’ chairman, president, and CEO. “We continue to
invest in our system to maximize reliability and improve customer

Also today, management affirmed the company’s 2013 consolidated ongoing
earnings guidance range of $1.35 to $1.41 per diluted share.

Management will host a live conference call this morning at 11 a.m. Eastern to
discuss earnings guidance and provide other company updates. A live webcast
will be available, and following the call will be archived at Listeners are encouraged to
visit the website at least 30 minutes before the event to register, download
and install any necessary audio software. Investors and analysts can
participate in the live conference call by dialing (877) 377-7098 or (631)
291-4547 five to 10 minutes prior to the event and referencing “the PNM
Resources 2014 guidance conference call.” A telephone replay will be available
at 2 p.m. Eastern until midnight Dec. 20 by dialing (855) 859-2056 or (404)
537-3406 and using the confirmation code 15438958. Supporting material for PNM
Resources’ guidance announcements can be viewed and downloaded at


PNM Resources (NYSE: PNM) is an energy holding company based in Albuquerque,
N.M., with 2012 consolidated operating revenues of $1.3 billion. Through its
regulated utilities, PNM and TNMP, PNM Resources has approximately 2,538
megawatts of generation capacity and serves electricity to more than 739,000
homes and businesses in New Mexico and Texas. For more information, visit the
company's website at

Safe Harbor Statement under the Private Securities Litigation Reform Act of

Statements made in this news release that relate to future events or PNM
Resources’ (“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

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 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 generally accepted
accounting principles in the U.S. (“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.
Management is generally not able to estimate the impact of the reconciling
items between ongoing earnings guidance and forecasted GAAP earnings, nor
their probable impact on GAAP earnings; therefore, management is generally not
able to provide a corresponding GAAP equivalent for earnings guidance.


PNM Resources
Jimmie Blotter, 505-241-2227
Pahl Shipley, 505-241-2782
Press spacebar to pause and continue. Press esc to stop.