**TXNM Energy Inc. (formerly PNM Resources) reports Q3/9M 2025 financials showing consolidated Net Earnings declined to \(161.2M (vs. \)226.4M YoY), resulting in Basic/Diluted EPS of \(1.22 (vs. \)2.50 in 2024). This compression contrasts with strong Total Electric Operating Revenues growth of 9% to $1.632B YTD, offset by significant increases in Energy Costs (+29.6% YTD) and Interest Charges. PNM segment earnings fell sharply, though TNMP earnings improved slightly.
Merger & Financing: The pending acquisition by Blackstone Infrastructure for $61.25 cash per share remains on track for H2
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