PNM Resources Management to Meet with Investors
2012 ongoing earnings guidance range affirmed during meetings
ALBUQUERQUE, N.M.--(BUSINESS WIRE)--
PNM Resources (NYSE: PNM) management will meet with institutional
shareholders this week during several meetings in the Midwest.
During the meetings, management will affirm the company's 2012
consolidated ongoing earnings guidance range of $1.20 to $1.32 per
diluted share.
Background:
PNM Resources (NYSE: 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. These factors include: The ability of
PNM and TNMP to recover costs and earn allowed returns in regulated
jurisdictions; the ability of the Company to successfully forecast and
manage its operating and capital expenditures; state and federal
regulatory, legislative, and judicial decisions and actions on
ratemaking, tax, and other matters; state and federal regulation or
legislation relating to environmental matters, including the resultant
costs of compliance and other impacts on the operations and economic
viability of PNM's generating plants; the risk that recently enacted
reliability standards regarding available transmission capacity and
other Federal Energy Regulatory Commission rulemakings may negatively
impact the operation of PNM's transmission system; the performance of
generating units, transmission systems, and distribution systems, which
could be negatively affected by operational issues, extreme weather
conditions, terrorism, and cybersecurity breaches; uncertainties
surrounding PNM's collective bargaining agreement, which provides for an
expiration date of April 30, 2012; variability of prices and volatility
and liquidity in the wholesale power and natural gas markets; changes in
price and availability of fuel and water supplies; uncertainties
surrounding the mine fire incident at the mine supplying coal to San
Juan Generating Station; uncertainty surrounding the status of PNM's
participation in jointly-owned generation projects resulting from the
scheduled expiration of the operational documents for the projects; the
risks associated with completion of generation, transmission,
distribution, and other projects; regulatory, financial, and operational
risks inherent in the operation of nuclear facilities, including spent
fuel disposal uncertainties; uncertainty regarding the requirements and
related costs of decommissioning power plants and coal mines supplying
certain power plants, as well as the ability to recover decommissioning
costs from customers; the impacts on the electricity usage of the
Company's customers due to performance of state, regional, and national
economies and mandatory energy efficiency measures, weather,
seasonality, and other changes in supply and demand; the Company's
ability to access the financial markets, including disruptions in the
credit markets, actions by ratings agencies, and fluctuations in
interest rates; the potential unavailability of cash from PNMR's
subsidiaries due to regulatory, statutory, or contractual restrictions;
the impacts of decreases in the values of marketable equity securities
maintained to provide for nuclear decommissioning and pension and other
postretirement benefits; commodity and counterparty credit risk
transactions and the effectiveness of risk management; the outcome of
legal proceedings, including the extent of insurance coverage; changes
in applicable accounting principles.
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.
PNM Resources
Analysts
Jimmie Blotter, 505-241-2227
Media
Frederick
Bermudez, 505-241-4831
Source: PNM Resources
News Provided by Acquire Media
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