TXNM Energy Reports Second Quarter 2026 Results

Prosperity Works, a New Mexico nonprofit, asked the state PRC to require TXNM Energy to pass about $240 million in rate credits to customers from a $350 million Blackstone termination fee tied to TXNM’s $11.5 billion deal. The PRC voided a $400 million stock sale and fined the firms $300,000. TXNM says Prosperity Works is incorrect and will respond.

New Mexico’s Public Regulation Commission ordered Blackstone Infrastructure and TXNM Energy (parent of Public Service Company of New Mexico) to unwind an unlawful $400 million stock transaction. The companies said they will reverse the deal as required and extend the acquisition timeline while continuing to seek regulatory approval on whether the acquisition is in the public interest.

TXNM ENERGY INC (TXNM) filed an SEC Form 8-K — Results of Operations and Financial Condition. EX-99.1 2 ex99107312026earningsrelea.htm EX-99.1 Document Exhibit 99.1 ALBUQUERQUE, N.M. July 31, 2026 TXNM Energy Reports Second Quarter 2026 Results • 2026 second quarter GAAP earnings of $0.64 per diluted share • 2026 second quarter ongoing earnings of $0.58 per diluted share

Residents at a UNM hearing weighed Blackstone Infrastructure’s proposed $11.5 billion takeover of TXNM Energy Inc., parent of PNM. The New Mexico PRC voted 2-1 that Blackstone and PNM violated state law over a $400 million 2025 stock sale, imposing $300,000 penalties and ordering reversal. TXNM said it took a $400 million loan to undo the sale; rate impact concerns and union job arguments were raised.

New Mexico regulators held a six-hour public hearing on Blackstone’s proposed acquisition of TXNM, PNM’s parent, after the PRC paused the deal. Opponents cited concerns about rate increases and private equity ownership. Supporters pointed to a $20 million pledge for apprenticeships and trade education. The PRC paused the process after rejecting a $400 million stock sale pending state-law compliance.

Blackstone Infrastructure is seeking to buy TXNM Energy, parent of New Mexico utility PNM, in an $11.5 billion deal. New Mexico’s Public Regulation Commission flagged a $400 million stock transaction that proceeded without prior approval. Blackstone says a $105 million acquisition rate credit would cut bills by 3.5% over four years and that PNM rates remain subject to PRC review.