Looking at the filing, I need to identify key financial data. The filing is a 10-Q for the quarterly period ended September 30, 2026, filed by TXNM Energy, Inc. (NYSE:TXNM), PNM, and TNMP. However, the content provided is largely the cover page, table of contents, and glossary - the actual financial statements and MD&A text are not included in the extract. Let me assess the substantive disclosure content. The filing text provided includes the cover page with share counts (110,125,757 shares of TXNM common stock as of October 23, 2026; 39,117,799 shares of PNM; 6,358 shares of TNMP), filing status information, and a glossary. The glossary contains substantive definitional content including references to specific financial instruments like the Convertible Notes ($549.8 million junior subordinated convertible notes), ETBC I Securitized Bonds ($343.2 million), Grid Modernization Plan (~$344 million), and other regulatory proceedings. This exceeds 150 words of substantive content.

TXNM Energy, Inc. filed a combined quarterly report on Form 10-Q for the period ended September 30, 2026, covering three registrants: TXNM Energy, Inc., Public Service Company of New Mexico, and Texas-New Mexico Power Company.

Key Highlights

  • Shares outstanding: As of October 23, 2026, TXNM Energy had 110,125,757 shares of common stock, no par value per share, outstanding.
  • PNM shares: As of October 23, 2026, Public Service Company of New Mexico had 39,117,799 shares of common stock outstanding, all held by TXNM.
  • TNMP shares: Texas-New Mexico Power Company had 6,358 shares of common stock ($10 par value per share) outstanding as of October 23, 2026, all held indirectly by TXNM.
  • Convertible Notes: The glossary references TXNM's $549.8 million junior subordinated convertible notes issued on June 10, 2024, and June 21, 2024.
  • ETBC I Securitized Bonds: PNM Energy Transition Bond Company I, LLC issued $343.2 million aggregate principal amount of senior secured energy transition bonds, Series A in two tranches, on November 15, 2023.
  • Grid Modernization Plan: The filing references PNM's NMPRC-approved plan including investments of approximately $344 million for the first six years of an 11-year strategy.
  • Filer classification: TXNM Energy is classified as a large accelerated filer; PNM and TNMP are each classified as non-accelerated filers.

TXNM Energy, PNM, and TNMP Report Third-Quarter 2026 Combined Filing

TXNM Energy, Inc. (NYSE:TXNM), headquartered at 414 Silver Ave. SW, Albuquerque, New Mexico, filed this combined Form 10-Q for the quarterly period ended September 30, 2026, on behalf of itself and two subsidiaries: Public Service Company of New Mexico ("PNM") and Texas-New Mexico Power Company ("TNMP"). According to the filing, each registrant files the form separately, and "each registrant makes no representation as to information relating to the other registrants."

The filing discloses that as of October 23, 2026, TXNM had 110,125,757 shares of common stock outstanding. All 39,117,799 shares of PNM common stock were held by TXNM, and all 6,358 shares of TNMP common stock were held indirectly by TXNM, with none held by non-affiliates in either subsidiary. TNMP is noted as a voluntary filer and "not subject to the filing requirements," though the filing states TNMP filed all required reports during the preceding 12 months.

The glossary included in the filing references several significant financial items. These include TXNM's $549.8 million junior subordinated convertible notes issued in June 2024, and the $343.2 million aggregate principal amount of senior secured energy transition bonds issued by PNM Energy Transition Bond Company I, LLC on November 15, 2023. The filing also references PNM's NMPRC-approved Grid Modernization Plan with investments of approximately $344 million for the first six years of a broader 11-year strategy, and PNM's 2025 Rate Request filed with the NMPRC on June 14, 2024, using a future test year beginning July 1, 2025. PNM and TNMP are noted as filing under the reduced disclosure format pursuant to General Instruction (H)(2) of Form 10-Q.

What Was Disclosed

TXNM Energy, Inc. filed a combined Form 10-Q for the quarter ended September 30, 2026, covering TXNM, PNM, and TNMP. The filing reported share counts as of October 23, 2026, and referenced key financial instruments and regulatory proceedings for each entity.