Key Highlights

  • Net Earnings attributable were USD 163.4 million, or USD 1.50 per diluted share, versus USD 130.7 million, or USD 1.22.
  • Electric operating revenues rose to USD 733.3 million from USD 647.2 million, an increase of about 13%.
  • Nine-month net earnings were USD 238.4 million, or USD 2.15 per diluted share, versus USD 161.2 million, or USD 1.63.
  • Dividends declared were USD 0.4225 per share in the quarter, up from USD 0.4075 a year earlier.

Earnings and Revenue Rise

TXNM Energy, Inc. (NYSE:TXNM) reported third-quarter 2026 net earnings attributable to the company of USD 163,429,000, or USD 1.55 per basic and USD 1.50 per diluted share, compared with USD 130,710,000, or USD 1.22 on both measures. Electric operating revenues were USD 733,290,000 versus USD 647,162,000.

Nine-month electric operating revenues were USD 1,786.8 million versus USD 1,632.4 million, and nine-month net earnings attributable were USD 238.4 million, or USD 2.15 per diluted share, versus USD 161.2 million, or USD 1.63.

Operating Expense Detail

Total operating expenses were USD 462.2 million versus USD 444.3 million. Cost of energy was USD 198.5 million versus USD 195.0 million, administrative and general expense USD 68.9 million versus USD 68.4 million, energy production costs USD 23.3 million versus USD 21.2 million, and transmission and distribution costs USD 28.2 million versus USD 27.2 million.

Basic earnings per share rose about 27% and diluted about 23%, while nine-month diluted EPS rose about 32% and the quarterly Dividend rose about 3.7%. Energy production costs rose about 9.8%, transmission and distribution costs about 3.9% and taxes other than income taxes about 10%, against Depreciation and amortization growth of about 7%. Depreciation and amortization rose to USD 112.3 million from USD 105.0 million, and taxes other than income taxes rose to USD 31.0 million from USD 28.2 million. The prior-year quarter included a regulatory disallowance Credit of USD 0.7 million. Nine-month operating expenses were USD 1,315.4 million versus USD 1,284.9 million. Revenues less operating expenses imply electric Operating Income of about USD 271.1 million versus USD 202.9 million, up about 34%, and about USD 471.4 million versus USD 347.5 million for nine months, up about 36%. Cost of energy fell to about 27.1% of revenue from 30.1%, and quarterly earnings per diluted share rose about 23%.

Dividends and Cash

Dividends declared per common share were USD 0.4225 for the quarter and USD 1.2675 for nine months, versus USD 0.4075 and USD 1.2225. Net earnings for nine months in the Cash Flow Statement were USD 251.4 million versus USD 175.1 million, and depreciation and amortization was USD 379.8 million versus USD 361.1 million. Deferred income tax expense was USD 37.3 million versus USD 19.9 million, and losses on Investment securities were USD 5.6 million versus USD 33.7 million.

Preferred Stock Dividend requirements of a Subsidiary were USD 132,000 for the quarter.

Rate and Cost Variables

Nine-month net earnings attributable grew about 48% from USD 161.2 million to USD 238.4 million. Dividends declared for nine months were USD 1.2675 per share, up about 3.7%. Items to watch include rate case outcomes, depreciation growth from capital investment, cost of energy trends and the share count, since Diluted Earnings per Share of USD 1.50 sit below the basic figure of USD 1.55.