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 share. 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 satisfaction.” 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 http://www.pnmresources.com/investors/events.cfm. 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 http://www.pnmresources.com/investors/results.cfm. Background: 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 www.PNMResources.com 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’ (“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. Contact: PNM Resources Analysts Jimmie Blotter, 505-241-2227 Media Pahl Shipley, 505-241-2782
PNM Resources Announces 2014 Ongoing Earnings Guidance Range
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