Oct 30, 7:07 AM ET
TXNM Energy reported third quarter 2026 GAAP earnings of $1.50 per diluted share, up from $1.22 a year earlier, and ongoing earnings of $1.62 per diluted share, up from $1.33. The company will not issue earnings guidance while its proposed acquisition by Blackstone Infrastructure is pending, and it expects the deal to close in the first half of 2027, subject to New Mexico regulatory approval.
- Q3 2026 GAAP net earnings attributable to TXNM were $163.4 million, versus $130.7 million in Q3 2025.
- Q3 2026 electric operating revenues were $733.3 million, versus $647.2 million in Q3 2025.
- Q3 2026 GAAP earnings included $14.7 million of net unrealized losses on investment securities and $9.3 million of merger-related costs.
- The Blackstone deal price is $61.25 per share; the NMPRC evidentiary hearings are scheduled for January 19 through February 1, 2027.
Read the filing on SEC.gov ↗
Oct 27, 7:03 PM ET
TXNM Energy disclosed that hearing examiners at the New Mexico Public Regulation Commission published a revised procedural schedule for the merger application on October 27, 2026. Evidentiary hearings are set for January 19 to February 1, 2027. TXNM still expects the merger with Troy ParentCo to close in the first half of 2027, but says it cannot predict the outcome.
- NMPRC hearing examiners set evidentiary hearings for January 19 to February 1, 2027
- The merger still requires NMPRC approval and satisfaction or waiver of customary conditions
- TXNM continues to anticipate the merger closing in the first half of 2027
Read the filing on SEC.gov ↗
Aug 19, 4:44 PM ET
Two TXNM Energy subsidiaries raised debt in private placements on August 19, 2026. PNM sold $200.0 million of senior unsecured notes, and TNMP issued $150 million of first mortgage bonds in two series. The filing states the proceeds will repay existing and short-term debt, fund capital expenditures and support general corporate purposes, and it says the Blackstone Infrastructure Partners transaction would not trigger a change-in-control obligation under either set of debt.
- PNM sold $200.0 million of senior unsecured notes in Series A ($115.0 million, 5.44%, due 2029), Series B ($50.0 million, 5.82%, due 2034) and Series C ($35.0 million, 6.12%, due 2038)
- TNMP issued $75,000,000 of 5.23% first mortgage bonds due September 1, 2031 and $75,000,000 of 5.46% bonds due September 1, 2033
- Both debt issues include a debt-to-capitalization covenant of 65% or less, and interest is paid semiannually beginning in 2027
- The filing states the proposed Blackstone Infrastructure Partners transaction would not constitute a change in control under the notes or bonds
Read the filing on SEC.gov ↗
Jul 31, 7:13 AM ET
TXNM Energy reported second-quarter 2026 GAAP earnings of $0.64 per diluted share, up from $0.22 a year earlier, and ongoing earnings of $0.58 per diluted share, up from $0.25. Electric operating revenues rose to $548.6 million from $502.4 million, but the company will not issue earnings guidance while its proposed $61.25-per-share acquisition by Blackstone Infrastructure is pending, and the agreement's termination date was extended to May 31, 2027.
- Q2 2026 GAAP net earnings attributable to TXNM were $71.3 million, versus $21.6 million in Q2 2025.
- Q2 2026 ongoing diluted EPS was $0.58, versus $0.25; PNM rose to $0.30 from $0.12 and TNMP to $0.39 from $0.27.
- Blackstone Infrastructure agreement termination date extended to May 31, 2027; closing anticipated in the first half of 2027, subject to NMPRC and other approvals.
- TXNM does not plan to issue earnings guidance during the pendency of the proposed transaction.
Read the filing on SEC.gov ↗
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
