PNM Resources (NYSE: PNM) released the company’s 2014 first quarter earnings results. In addition, management affirmed its 2014 consolidated ongoing earnings guidance range of $1.42 to $1.52 per diluted share.
“In the first quarter, PNM Resources delivered consistent earnings by efficiently managing operations and successfully navigating a still-sluggish economy,” said Pat Vincent-Collawn, PNM Resources’ chairman, president and CEO. “The company is on track financially, and we remain focused on delivering excellent reliability and responding to the needs of our customers. Significantly, on April 30 Standard and Poor’s recognized continued improvements in our business by changing the outlook for PNM Resources, PNM and TNMP to positive.”
On April 30, the U.S. Environmental Protection Agency (EPA) issued its draft proposed approval for the Revised State Implementation Plan for PNM’s San Juan Generating Station. The company anticipates that EPA will issue a final determination on the plan by the end of September. PNM has also requested approval from the New Mexico Public Regulation Commission for the two-unit retirement and the company’s proposals for replacement power.
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