Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ Name of Registrant, State of Incorporation, Address Of Principal Executive Offices, Telephone Number, Commission File No ...

TXNM Energy (TXNM) Q1 2025 Earnings Call May 09, 2025 11:00 AM ET Company Participants Lisa Goodman - Executive Director of Investor RelationsPatricia Collawn - Chairman & CEODon Tarry - President & COOLisa Eden - SVP & CFONicholas Campanella - DirectorMichael Lonegan - Director - Equity ResearchAnthony Crowdell - Managing Director Conference Call Participants Brian Russo - Analyst Operator Good day and welcome to the TXM Energy Q1 twenty twenty five Conference Call. All participants will be in listen only ...

Financial Data and Key Metrics Changes - Ongoing earnings for Q1 2025 were $0.19 per share, aligning with expectations and reflecting the midyear implementation of new rates at PNM [4][23] - The company affirmed its 2025 guidance range of $2.74 to $2.84 per share, maintaining a long-term EPS growth target of 7% to 9% [5][26] Business Line Data and Key Metrics Changes - TNMP set a new system peak in Q1, 22% higher than the previous year, with demand-based load increasing by 9.7%, driven by growth in North and West Texas [9][10] - Data center load increased by 70 megawatts in Q1, with expectations of an additional 150 megawatts by year-end [10] - The system resiliency plan was approved, allowing for $546 million in capital improvements [5][10] Market Data and Key Metrics Changes - Interconnection requests increased by 6% compared to Q1 of the previous year, particularly in the Gulf Coast area [10] - The New Mexico legislative session resulted in key bills aimed at expediting infrastructure build-out for large customers, enhancing competitiveness [6][7] Company Strategy and Development Direction - The company is focused on supporting growth in Texas with a reliable and resilient grid, with capital investments projected to grow from $600 million this year to over $1 billion starting in 2028 [12] - The regulatory agenda includes upcoming rate reviews and resource applications, with a focus on balancing system needs and customer rate impacts [19][20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in executing the capital plan and achieving growth targets, emphasizing the importance of size and scale in financing large capital expenditures [36] - The company is optimistic about the impact of recent legislation on its operations and financial performance [6][64] Other Important Information - The company has not made changes to its five-year capital investment plan, which includes significant investments in transmission development [19][20] - The upcoming regulatory agenda includes decisions on rate reviews and resource applications, with a focus on improving service and meeting customer demands [20][21] Q&A Session Summary Question: Impact of House Bill 5,247 on TNMP - Management confirmed that House Bill 5,247 would be beneficial to TNMP, allowing for the grouping of costs and reducing regulatory lag [33] Question: Update on TNMP's capital structure and rate design - Management indicated that the upcoming base rate case would primarily focus on rate design, with the current capital structure at 45% equity [44] Question: Confidence in executing the $750 million CapEx for Permian Basin - Management expressed confidence in delivering the capital and noted that CCNs would be filed early next year [47] Question: Progress on New Mexico RFP process - Management stated that the RFP process is on track, with an independent evaluator involved to ensure resource justification [54] Question: Impact of tariffs on capital plans - Management noted that tariffs are expected to have about a 2% impact on capital plans, consistent with other utilities [56] Question: Incremental investment opportunities in transmission - Management indicated that while the five-year period may see limited incremental investments, the long-term outlook for transmission development is significant, estimated at around $4 billion [57]

Exhibit 99.1 TXNM Energy (In millions, except EPS) | | Q1 2025 | Q1 2024 | | --- | --- | --- | | GAAP net earnings attributable to | | | | TXNM Energy | $8.9 | $47.2 | | GAAP diluted EPS | $0.10 | $0.52 | | Ongoing net earnings | $18.1 | $37.0 | | Ongoing diluted EPS | $0.19 | $0.41 | TXNM Energy (NYSE: TXNM) today released its 2025 first quarter results. In addition, management affirmed its 2025 consolidated ongoing earnings guidance range of $2.74 to $2.84 per diluted share and maintained its long-term ea ...

Q1 2025 Earnings Review May 9, 2025 Safe Harbor Statement Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 Statements made in this presentation for TXNM Energy, Inc. ("TXNM"), Public Service Company of New Mexico ("PNM"), or Texas-New Mexico Power Company ("TNMP") (collectively, the "Company") that relate to future events or expectations, projections, estimates, intentions, goals, targets, and strategies, including the unaudited financial results and earnings guidance, are ma ...

2025 first quarter GAAP earnings of $0.10 per diluted share 2025 first quarter ongoing earnings of $0.19 per diluted share 2025 ongoing earnings guidance range of $2.74 - $2.84 per diluted share affirmed Long-term earnings per share growth target of 7% to 9% TXNM Energy (In millions, except EPS) Q1 2025 Q1 2024 GAAP net earnings attributableto TXNM Energy $8.9 $47.2 GAAP diluted EPS $0.10 $0.52 Ongoing net earnings $18.1 $37.0 Ongoing diluted EPS $0.19 $0.41 ALBUQUERQUE, N.M. ...

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ALBUQUERQUE, N.M., April 10, 2025 /PRNewswire/ -- TXNM Energy, Inc. will announce first quarter 2025 financial results prior to the market opening on Friday, May 9, 2025. Management will also host a live conference call at 11 a.m. Eastern Time to discuss financial results and other company updates. The press release and accompanying presentation materials for the conference call will be posted on the company website at www.TXNMEnergy.com. Investors and analysts can participate in the live conference call by ...

Core Points - The New Mexico Public Regulation Commission (NMPRC) has issued a Certification of Stipulation recommending approval of PNM's 2025 Rate Request application [1] - The stipulation includes a $105.0 million increase in PNM's revenue requirements, based on a 9.45% return on equity and a 51% equity capitalization structure [3] - The rate increase will be phased in, with 50% effective July 1, 2025, and the remaining increase effective April 1, 2026 [2] Company and Industry Details - PNM is a wholly-owned subsidiary of TXNM Energy, which serves over 800,000 homes and businesses across Texas and New Mexico [6] - The current authorized rates for PNM are based on a 9.26% return on equity and a 50% equity capitalization structure [3] - Various parties, including the Utility Division Staff of NMPRC and several community organizations, support the stipulation, while other intervening parties do not oppose it [4]

Core Insights - TNMP, a subsidiary of TXNM Energy, received approval from the Public Utility Commission of Texas for its Transmission Cost of Service application [1][2] - The approved annual rate increase is $11.5 million, which will recover $83.5 million of incremental transmission rate base [2] Company Overview - TXNM Energy is an energy holding company based in Albuquerque, New Mexico, serving over 800,000 homes and businesses in Texas and New Mexico through its regulated utilities, TNMP and PNM [3]