PNM Resources (PNM -1.9%) slides after its Q1 bottom line result came up short earlier this...

|About: PNM Resources, Inc. (PNM)|By:, SA News Editor

PNM Resources (PNM -1.9%) slides after its Q1 bottom line result came up short earlier this morning. Net earnings fell 38% Y/Y as the utility operator was hurt by the negative impact of hedging along with other items, which masked strong growth out of its Texas operations. Earnings eased at ts New Mexico facility, as load and weather impacts slightly offset benefits from lower maintenance costs and higher rates, while its Texas utility saw earnings climb 19% Y/Y to $3.7M on expanding load and rate increases.