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TXNM Energy (TXNM) investor relations material
TXNM Energy Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Reported 2025 GAAP earnings of $1.48 per diluted share and ongoing EPS of $2.33, both down from 2024 levels.
Net earnings attributable to the company were $151.4 million in 2025, compared to $242.2 million in 2024.
Ongoing net earnings were $238.9 million in 2025, down from $247.8 million in 2024.
No 2026 earnings guidance issued due to the pending acquisition by Blackstone Infrastructure.
Financial highlights
Electric operating revenues rose to $2.17 billion in 2025 from $1.97 billion in 2024.
Operating income was $441.2 million in 2025, down from $453.5 million in 2024.
Net earnings included $3.4 million of net unrealized losses on investment securities and a $58.8 million pension settlement charge.
Shares issued in 2024 and 2025 for $950 million in proceeds reduced EPS.
Outlook and guidance
No 2026 earnings guidance provided during the regulatory review of the Blackstone transaction.
Anticipates closing the Blackstone acquisition in the second half of 2026, pending regulatory approvals.
- Q2 2024 ongoing EPS beat, guidance affirmed, and TXNM Energy rebrand set for August.TXNM
Q2 20242 Feb 2026 - All management proposals, including a company name change, were approved by shareholders.TXNM
AGM 202431 Jan 2026 - Q3 2024 EPS $1.45; guidance $2.70–$2.75; grid investments and load growth drive outlook.TXNM
Q3 202417 Jan 2026 - 2024 ongoing EPS hit $2.74, 2025 guidance strong, $7.8B plan targets 7–9% growth.TXNM
Q4 202421 Dec 2025 - Shareholders to vote on $61.25/share cash merger with Blackstone affiliate, Board recommends approval.TXNM
Proxy Filing1 Dec 2025 - Shareholders to vote on $61.25/share cash merger with Blackstone, Board recommends approval.TXNM
Proxy Filing1 Dec 2025 - Board recommends approval of all proposals, emphasizing governance, performance, and sustainability.TXNM
Proxy Filing1 Dec 2025 - Shareholders to vote on TXNM's merger with Blackstone affiliate amid litigation and added disclosures.TXNM
Proxy Filing1 Dec 2025 - Acquisition filings promise local management, job protections, and major community investments.TXNM
Proxy Filing1 Dec 2025
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