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 analysts and
investors this week during and after the RBC Capital Markets' Energy and
Power Conference in New York City.
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 (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 website 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 the negotiation of PNM's collective bargaining agreement;
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; and 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
Print page
Email page
Download PDF
