PNM Resources, Inc. (NYSE:PNM) Q3 2023 Earnings Conference Call October 27, 2023 11:30 AM ET

Company Participants

Lisa Goodman - Executive Director, IR

Pat Vincent-Collawn - Chairman and CEO

Don Tarry - President and COO

Lisa Eden - SVP, CFO and Treasurer

Conference Call Participants

Ryan Levine - Citi

Paul Zimbardo - Bank of America

Jonathan Reeder - Wells Fargo Securities

Brandon Lee - Mizuho

Operator

Good day and welcome to the PNM Resources' Third Quarter 2023 Conference Call. All participants will be in listen-only mode. [Operator Instructions] Please note this event is being recorded.

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

Lisa Goodman

Thank you, Dave and thank you everyone for joining us this morning for the PNM Resources' third 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 Terry; 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 on Cranky Coworkers Day and yes, you can Google it, it is a real day. Now, we are sure none of you have any cranky coworkers or that none of you are 1 of those cranky coworkers and none of us surely are, but we're going to celebrate the day just in case.

I'm going to start on Slide 4 with our financial results and strategic updates. Ongoing earnings were $1.54 for the third quarter compared to $1.46 last year. Summer temperatures were hotter across New Mexico and Texas and had a significant impact on earnings. We are adjusting our guidance for the year to a range of $2.75 to $2.80 per share. Lisa will walk through the details.