PNM Resources Q1 2024 Adj EPS $0.41 Beats $0.40 Estimate, Sales $436.877M Miss $530.997M Estimate
Portfolio Pulse from Benzinga Newsdesk
PNM Resources (NYSE:PNM) reported Q1 2024 adjusted EPS of $0.41, surpassing the $0.40 estimate, but its sales of $436.877M fell short of the $530.997M forecast. This represents a 25.45% decrease in earnings and a 19.70% drop in sales from the same period last year.
April 30, 2024 | 9:25 am
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PNM Resources reported a mixed Q1 2024 with an EPS beat but significant sales miss, indicating potential volatility in its stock price.
While PNM Resources exceeded EPS estimates, the significant miss on sales forecasts and the year-over-year decline in both earnings and sales could lead to mixed investor sentiment. The EPS beat may provide some positive momentum, but the sales miss and declines could raise concerns about growth prospects, leading to potential short-term volatility in the stock price.
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