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PNM Resources, parent of the Public Service Company of New Mexico, on Monday reported a first-quarter loss of $15.1 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Albuquerque-based and New Mexico’s largest electric company said it had a loss of 19 cents. Earnings, adjusted for non-recurring costs, were 18 cents per share.

The company posted revenue of $333.6 million in the period.

PNM Resources officials in a news release said it expects full-year earnings in the range of $2.16 to $2.26 per share.

PNM Resources shares went down slightly more than 8% since the beginning of the year while its stock has increased close to 2% in the last 12 months.

Theses preliminary unaudited 2020 first quarter results include the early stages and impacts from the COVID-19 pandemic. The company said it expects increases in residential electric use and decreases in commercial electric use primarily as a result of stay-at-home orders in New Mexico.