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Resources® PNMResou ALBUQUERQUE , N.M. April 30 , 2021 INVESTOR News Release PNM Resources Reports First Quarter Results 2021 Ongoing Earnings Guidance Affirmed • 2021 First Quarter GAAP earnings of $ 0.20 per diluted share • 2021 First Quarter Ongoing earnings of $ 0.32 per diluted share • Affirmed 2021 Ongoing earnings guidance range of $ 2.27 to $ 2.37 per diluted share PNM Resources ( In millions , except EPS ) Q1 2021 Q1 2020 GAAP net earnings ( loss ) attributable to PNM Resources $ 17.6 ( $ 15.3 ) GAAP diluted EPS $ 0.20 ( $ 0.19 ) Ongoing net earnings $ 27.8 $ 14.2 Ongoing diluted EPS $ 0.32 $ 0.18 PNM Resources ( NYSE : PNM ) today released its 2021 first quarter results . In addition , management affirmed its 2021 consolidated ongoing earnings guidance of $ 2.27 to $ 2.37 . " The first quarter showed signs of recovery and improvement over last year's COVID - related impacts . We continue to prioritize the needs of our customers and communities as we carry out our plans at PNM and TNMP for the critical infrastructure to support future energy needs , " said Pat Vincent - Collawn , PNM Resources ' chairman , president and CEO . “ Our merger process with Avangrid has moved forward with key approvals at the federal level and progress on settlement agreements in both Texas and New Mexico . We continue to expect the merger to close in the second half of 2021. " UPDATE ON MERGER AGREEMENT On October 21 , 2020 , PNM Resources announced an agreement to enter into a merger with AVANGRID . Under the terms of the proposed merger , PNM Resources shareholders will receive $ 50.30 in cash for each share of PNM Resources common stock held at closing . Shareholders approved the merger on February 12 , 2021. Clearances have been received from the Department of Justice under the Hart - Scott - Rodino Act , the Committee on Foreign Investment in the United States ( CFIUS ) , the Federal Communications Commission and the Federal Energy Regulatory Commission . Approvals continue to be pursued from the Nuclear Regulatory Commission , Public Utility Commission of Texas and New Mexico Public Regulation Commission . A Unanimous Stipulation and Agreement has been filed in Texas and settlement discussions continue in New Mexico after the filing of an Initial Stipulation with some parties . ( MORE )