PNM Resources Inc - Company Profile
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PNM Resources Inc (PNMR) is an energy holding company that operates through its energy utilities, Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP). The company generates, transmits, and distributes electricity; and transports natural gas. It produces electricity from coal, natural gas, nuclear, solar, wind, and geothermal sources through long-term power purchase agreements. PNMR also sources energy from Valencia, Red Mesa Wind, the Lightning Dock Geothermal facility, New Mexico Wind, and NMRD-owned solar facility. PNM’s transmission lines are interconnected with utilities in Arizona, Texas, New Mexico, Colorado and Utah. The company serves residential¸ commercial, industrial and public authority and wholesale customers in New Mexico and Texas. PNMR is headquartered in Albuquerque, New Mexico, the US.
Headquarters
United States of America
Address
414 Silver Ave Sw, Albuquerque, New Mexico, 87102-3289
Website
www.pnmresources.com
Telephone
1 505 2412700
No of Employees
1,600
Industry
Power
Ticker Symbol & Exchange
PNM (NYSE)
Revenue (2022)
$1.9B
-13.8%
(2022 vs 2021)
EPS
XYZ
Net Income (2022)
XYZ
-48%
(2022 vs 2021)
Market Cap*
$3.3B
Net Profit Margin (2022)
XYZ
-39.7%
(2022 vs 2021)
* As of and is in US$
PNM Resources Inc premium industry data and analytics
Products and Services
| Products | Services |
|---|---|
| Electricity | Electricity Transmission |
| Operation and Maintenance | |
| Electricity Distribution | |
| XYZ | |
| XYZ | |
| XYZ |
History
History section provides information on new products, mergers, acquisitions, expansions, approvals, and many more key events.
| Year | Event | Description |
|---|---|---|
| 2024 | Divestiture | In February, the company sold its 50% stake in its renewable joint venture, New Mexico Renewable Development, LLC to Exus North America Holdings, LLC. |
| 2024 | Others | In January, the company terminated its deal to be acquired by Avangrid Inc. for US$8.3 billion. |
| 2021 | Others | In December, the company filed a Notice of Appeal with the New Mexico Supreme Court of the decision to deny the application by Public Service Company of New Mexico (PNM) to abandon, sell and securitize its minority interest in the Four Corners Power Plant. |
Competitor Comparison
| Key Parameters | PNM Resources Inc | Xcel Energy Inc | FirstEnergy Corp | CenterPoint Energy Inc | Ameren Corp |
|---|---|---|---|---|---|
| Headquarters | United States of America | United States of America | United States of America | United States of America | United States of America |
| City | Albuquerque | Minneapolis | Akron | Houston | St. Louis |
| State/Province | New Mexico | Minnesota | Ohio | Texas | Missouri |
| No. of Employees | 1,600 | 12,100 | 12,042 | 8,827 | 9,372 |
| Entity Type | Public | Public | Public | Public | Public |
Key Financial Charts
Sales Growth
Net Income Growth
Executives
| Name | Position | Board | Since | Age |
|---|---|---|---|---|
| Patricia K. Collawn | Chief Executive Officer; Chairman | Executive Board | 2022 | 64 |
| Lisa Eden | Chief Financial Officer; Treasurer; Senior Vice President | Senior Management | 2021 | 56 |
| Don Tarry | Chief Operating Officer; President | Senior Management | 2022 | 52 |
| Mike Mertz | Vice President; Chief Information Officer | Senior Management | 2021 | - |
| Charles Eldred | Executive Vice President - Corporate Development and Finance | Senior Management | 2020 | 68 |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
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