PUBLIC SERVICE CO OF NEW MEXICO

For the period ended Mar 31, 2026. Filed May 1, 2026.

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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2026 · Filed May 1, 2026

TXNM$58.28+0.1%Stored close · as of Nov 9, 2026

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Contents

, INC. AND SUBSIDIARIES

	Three Months Ended March 31,
	2026	2025
(In thousands, except per share amounts)
Electric Operating Revenues	$504,982	$482,792
Operating Expenses:
Cost of energy	166,492	169,182
Administrative and general	66,913	60,769
Energy production costs	24,403	24,546
Depreciation and amortization	112,323	104,551
Transmission and distribution costs	25,887	25,505
Taxes other than income taxes	31,953	26,350
Total operating expenses	427,971	410,903
Operating income	77,011	71,889
Other Income and Deductions:
Interest income	3,567	4,247
(Losses) on investment securities	(8,944)	(1,241)
Other income	6,857	4,729
Other (deductions)	(1,900)	(2,258)
Net other income and deductions	(420)	5,477
Interest Charges	68,595	63,551
Earnings before Income Taxes	7,996	13,815
Income Taxes (Benefits)	(9)	1,018
Net Earnings	8,005	12,797
(Earnings) Attributable to Valencia Non-controlling Interest	(4,136)	(3,742)
Preferred Stock Dividend Requirements of Subsidiary	(132)	(132)
Net Earnings Attributable to TXNM	$3,737	$8,923
Net Earnings Attributable to TXNM per Common Share:
Basic	$0.03	$0.10
Diluted	$0.03	$0.10
Dividends Declared per Common Share	$0.4225	$0.4075

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