TXNM Energy reported 2025 GAAP earnings of $1.48 per diluted share and ongoing earnings of $2.33 per share. The company provided updates on its pending acquisition by Blackstone Infrastructure for $61.25 per share, which has received key regulatory approvals and is expected to close in the second half of 2026.
Key takeaways
2025 GAAP net earnings attributable to TXNM Energy were $151.4 million, or $1.48 per diluted share, compared to $242.2 million, or $2.67 per diluted share, in 2024.
2025 Ongoing net earnings were $238.9 million, or $2.33 per diluted share, compared to $247.8 million, or $2.74 per diluted share, in 2024.
The proposed acquisition by Blackstone Infrastructure for $61.25 per share received approval from the Federal Energy Regulatory Commission and the Public Utility Commission of Texas in February 2026.
The company does not plan to issue 2026 earnings guidance during the pendency of the proposed transaction with Blackstone Infrastructure.
PNM filed an application with the NMPRC for a new 345 kV transmission line and related infrastructure at an estimated cost of $247 million.
GAAP earnings for 2025 included an $58.8 million pension settlement charge and $43.1 million of transaction-related costs.