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PNM Resources (PNM) management will meet with analysts and
investors this week in Europe.
Management is expected to affirm the company’s 2012 consolidated ongoing
earnings guidance range of $1.20 to $1.32 per diluted share during the
meetings. Presentation materials are available on the company’s website
at http://www.pnmresources.com/investors/events.cfm.
Background:
PNM Resources (PNM) is an energy holding company based in
Albuquerque, N.M., with 2011 consolidated operating revenues of $1.3
billion, excluding First Choice Power. Through its regulated utilities,
PNM and TNMP, PNM Resources has approximately 2,530 megawatts of
generation capacity and serves electricity to more than 735,000 homes
and businesses in New Mexico and Texas. For more information, visit the
company’s Web site 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 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.
SOURCE: PNM Resources
PNM Resources
Analysts
Jimmie Blotter, 505-241-2227
Media
Valerie Smith, 505-241-2892
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