TXNM Energy today reported its 2024 earnings results, with GAAP earnings of $2.67 per diluted share and ongoing earnings of $2.74 per diluted share, achieving the high end of its narrowed guidance. The company also introduced its 2025 consolidated ongoing earnings guidance in the range of $2.74 to $2.84 per diluted share.
The company announced a significant increase in its 5-year capital investment plan for 2025-2029, now totaling $7.8 billion. This represents a 26% increase over the prior 5-year plan and includes new Texas transmission projects from the ERCOT Permian Basin Reliability Study, driving a projected 12% growth in regulated rate base compared to 2025 levels.
Reflecting confidence in its strategic direction and capital deployment, TXNM Energy raised its long-term earnings per share growth target to 7% to 9% through 2029, up from its previous target of 6% to 7%. This ambitious outlook is underpinned by continued strong growth in its Texas service territory and the phased-in rate increase in New Mexico.
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