PNM Resources, Inc. (NYSE:PNM) Q2 2023 Earnings Call Transcript August 4, 2023 11:00 AM ET

Company Participants

Lisa Goodman - Executive Director of IR

Pat Vincent-Collawn - Chairman and CEO

Don Tarry - President and COO

Lisa Eden - SVP, CFO and Treasurer

Conference Call Participants

Ryan Levine - Citi

Julien Dumoulin-Smith - Bank of America

Jonathan Reeder - Wells Fargo

Operator

Good morning, and welcome to the PNM Resources Second Quarter 2023 Conference Call. All participants will be in listen-only mode. [Operator Instructions] Please note this event is being recorded. I would like now to turn the conference over to Lisa Goodman, Executive Director of Investor Relations. Please go ahead.

Lisa Goodman

Thank you, Alan. And thank you, everyone, for joining us this morning for the PNM Resources second quarter 2023 earnings call. Please note that the presentation for this conference call and other supporting documents are available on our website at pnmresources.com. Joining me today are PNM Resources' Chairman and CEO, Pat Vincent-Collawn; President and Chief Operating Officer, Don Tarry; and Senior Vice President, Chief Financial Officer and Treasurer, Lisa Eden.

Before I turn the call over to Pat, I need to remind you that some of the information provided this morning should be considered forward-looking statements pursuant to the Private Securities Litigation Reform Act of 1995. We caution you that all of the forward-looking statements are based upon current expectations and estimates and that PNM Resources assumes no obligation to update this information. For a detailed discussion of factors affecting PNM Resources' results, please refer to our current and future annual reports on Form 10-K, quarterly reports on Form 10-Q, as well as reports on Form 8-K filed with the SEC.

With that, I will turn the call over to Pat.

Pat Vincent-Collawn

Thank you, Lisa. Good morning, everyone, and thank you for joining us today as we head into another heat wave across most of New Mexico and Texas. But today is also International Beer Day and White Wine Day. So we've given you some ideas on how to beat the heat tonight.

I'm going to start on Slide 4 with our financial results and company updates. Ongoing earnings were $0.55 for the second quarter compared to $0.57 last year. We are also affirming our guidance for 2023. Lisa will walk you through the details later in the call. Before I hand things over to Don to cover the operational highlights and key regulatory and legislative updates, let me cover a few strategic items.