TXNM Q3 net earnings revs to $163.4 million

TXNM Energy (NYSE:TXNM) reported third-quarter 2026 GAAP net earnings of $163.4 million, up from $130.7 million a year earlier, while diluted earnings per share increased to $1.50 from $1.22.

Ongoing earnings reached $184.8 million, or $1.62 per diluted share, compared with $142.8 million and $1.33 per share in the third quarter of 2025.

The company also provided updates on its proposed acquisition by affiliates of Blackstone Infrastructure, which remains valued at $61.25 per share.

TXNM expects the acquisition to close in the first half of 2027, subject to New Mexico regulatory approval and other remaining closing conditions.

Its subsidiary, Texas-New Mexico Power Company (TNMP), requested additional annual revenue requirements of $77.9 million for distribution and $27 million for transmission, while PNM expects to seek approval for a transmission project estimated to cost $595 million.

The proposed acquisition remains subject to regulatory review, while the company continues pursuing infrastructure investments and regulatory approvals.

TXNM Energy operates regulated electric utilities through Public Service Company of New Mexico (PNM) and TNMP, serving customers in New Mexico and Texas through electricity generation, transmission and distribution services.