TXNM Energy earnings rise as profit reaches $71.3M

• TXNM Energy reported second-quarter 2026 GAAP net earnings of $71.3 million, up from $21.6 million a year earlier.
• Ongoing earnings increased to $64.1 million as utility operations supported results.
• The company continued regulatory actions and progress toward its Blackstone acquisition agreement.

TXNM Energy (NYSE:TXNM) announced second-quarter 2026 GAAP net earnings attributable to shareholders of $71.3 million, or $0.64 per diluted share, compared with $21.6 million, or $0.22 per share, in the prior-year quarter.

Ongoing net earnings increased to $64.1 million, or $0.58 per diluted share, from $24.5 million, or $0.25 per share, as the company advanced utility investments and regulatory initiatives.

Meanwhile, TNMP received approval from the Public Utility Commission of Texas for a base rate settlement covering $2.8 billion of rate base, with a 9.65% allowed return on equity and a 45% equity ratio.

Elsewhere, TXNM Energy and Blackstone Infrastructure extended their $61.25-per-share acquisition agreement termination date to May 31, 2027.

The company’s PNM subsidiary filed a 2029–2032 resource portfolio that includes new wind, solar, storage and gas expansion projects, along with a planned 2031 exit from Four Corners.

TXNM Energy operates regulated electric utilities including Public Service Company of New Mexico and Texas-New Mexico Power, serving customers across New Mexico and Texas.