PNM Resources, Inc. (NYSE:PNM) Q1 2023 Results Conference Call May 5, 2023 11:00 AM ET

Company Participants

Lisa Goodman - Executive Director, IR

Pat Vincent-Collawn - Chairman and CEO

Don Tarry - President and COO

Lisa Eden - SVP and CFO and Treasurer

Conference Call Participants

Anthony Crowdell - Mizuho

Julien Dumoulin-Smith - Bank of America

Ryan Levine - Citi

Jonathan Reeder - Wells Fargo

Paul Fremont - Mizuho

Operator

Good day and welcome to the PNM Resources First Quarter 2023 Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. Please note this event is being recorded.

I would now like to turn the conference over to Lisa Goodman. Please go ahead.

Lisa Goodman

Thank you, Jason, and thank you, everyone, for joining us this morning for the PNM Resources first 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 and 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 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 on National Astronaut Day. And National Astronaut Day is a special day here for us at PNM Resources. One of our Board of Directors, Sid Gutierrez, is the first U.S. born Hispanic astronaut and the first Hispanic space mission commander. He commanded the space shuttle, Endeavor.

So I'm going to start on slide 4 this morning with our financial results and company updates. Ongoing earnings increased during the first quarter, compared to last year coming in at $0.55. We are affirming our guidance for 2023 with a continued focus on managing our standalone business. Lisa will cover the financials in more detail.