PNM Resources, Inc. (NYSE:PNM) Q4 2023 Earnings Conference Call February 6, 2024 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, CFO and Treasurer

Conference Call Participants

Julien Dumoulin-Smith - Bank of America

Anthony Crowdell - Mizuho

Ryan Levine - Citi

Paul Fremont - Ladenburg Thalmann & Co.

Operator

Good morning, and welcome to the PNM Resources 2023 Earnings Call. [Operator Instructions] Please note this event is being recorded.

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

Lisa Goodman

Thank you, Lynea, and thank you, everyone, for joining us this morning for the PNM Resources 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 on Pay a Compliment Day. So even though I can't see any of you, let me just say that you are all looking really good this year.

Now I'm going to get started on Slide 4. Some of you may be joining us for the first time or possibly the first time in a few years since we announced our merger. While we were disappointed with the outcome, we have continued to advance our standalone business strategy to invest in the infrastructure needed to meet customer needs, enable the clean energy transition and diversify our rate base.

Yes, we're still standing and we're better than we've ever been. The energy transition, along with customer needs for reliability and resiliency result in substantial growth for our Utility businesses. The continued increase in infrastructure needed to serve customers will more than double our rate base from 2020 to 2028.