TXNM Energy reports Q2 non-GAAP EPS of $0.58, beating estimates, alongside a $548.5M revenue print and a $61.25 per share buyout deal.
TXNM Energy posted Q2 non-GAAP earnings of $0.58 per share, exceeding expectations by $0.01, as revenue climbed 9.2% year-over-year to $548.5 million. The results accompany an agreement for Blackstone Infrastructure affiliates to acquire the company’s outstanding stock.
The $61.25 per share offer values the transaction at approximately $5.5 billion, based on the 548.5 million shares outstanding. Revenue growth outpaced the prior-year period, though consensus estimates for the quarter had anticipated a narrower beat.
Shares of TXNM Energy were halted ahead of the announcement, with no immediate market reaction disclosed in the release.