TXNM Energy Reports First Quarter 2026 Results

TXNM Energy reported first quarter 2026 results, with GAAP earnings of $0.03 per diluted share and ongoing earnings of $0.21 per diluted share. The company announced an updated 2026-2030 capital investment plan of $10.2 billion. Regulatory updates include PNM's grid modernization plan reconciliation and approvals for economic development projects and battery storage. TNMP is pursuing a settlement for its base rate review. The proposed transaction with Blackstone Infrastructure is progressing, with several regulatory approvals obtained, and the company anticipates closing in the second half of 2026, subject to remaining conditions. TXNM Energy also detailed its segment reporting for Q1 2026 earnings, highlighting changes in GAAP and ongoing earnings compared to Q1 2025, primarily influenced by regulatory rate adjustments, customer load, capital investments, and market conditions. The company emphasized the use of non-GAAP financial measures like "ongoing earnings" to provide a clearer view of operational performance.