TXNM ENERGY INC 8-K

What Happened

• On February 27, 2026, TXNM Energy, Inc. (including Public Service Company of New Mexico and Texas‑New Mexico Power Company) issued a press release reporting results of operations for the three months and the year ended December 31, 2025 (press release furnished as Exhibit 99.1).
• The company highlighted its use of non‑GAAP financial measures—chiefly “ongoing earnings” and “ongoing diluted earnings per share”—to evaluate operations, set goals and determine incentive compensation. The filing explains certain non‑GAAP adjustments and reconciling items the company excludes from ongoing measures.

Key Details

• Press release dated: February 27, 2026; reporting period: three months and year ended Dec 31, 2025.
• Non‑GAAP metrics emphasized: ongoing earnings and ongoing diluted EPS (used for operations review and compensation).
• Typical exclusions cited: net unrealized mark‑to‑market gains, net change in unrealized gains/losses on investment securities, pension expense related to a previously disposed gas distribution business, and certain non‑recurring items.
• The company says it generally cannot provide a GAAP equivalent for forward‑looking ongoing earnings guidance because reconciling items are often outside its control.

Why It Matters

• Investors should note TXNM announced its latest quarterly and full‑year results but also flagged that management will present and discuss non‑GAAP “ongoing” measures alongside GAAP figures. Those non‑GAAP adjustments (mark‑to‑market swings, pension items, etc.) can materially change GAAP earnings, and the company warns it may not be able to reconcile guidance to GAAP. Review the press release and accompanying GAAP financial statements to compare reported GAAP results with the company’s ongoing earnings presentation.