Q3 2025 Summary: Financial Contraction Amid Strategic Moves and Regulatory Wins
Financial Performance TXNM consolidated Net Earnings declined significantly year-over-year for the nine months ended September 30, 2025, falling to $161.2 million (from \(226.4 million in 9M 2024), driving Diluted EPS down to **\)1.63** (from \(2.50). This decline was pressured by rising Energy Costs (\)531.8M YTD) and increased Interest Charges (\(205.7M YTD). Segment-wise, PNM earnings dropped notably to \)127.7M, while TNMP earnings rose modestly to $84.4M. Total Electric Operating Revenues showed strong
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