PNM Resources, Inc. (NYSE:PNM) Q3 2023 Earnings Call Transcript

Jonathan Reeder: Okay. Appreciate you taking my questions and look forward to seeing you.

Pat Vincent-Collawn: We’ll be there.

Don Tarry: Take care Jonathan.

Operator: Our next question comes from Brandon Lee with Mizuho. Please go ahead.

Brandon Lee: Hi Don. Thanks for taking my question. Most of my questions have been asked, but just wondering — so thanks for the disclosure on the $100 million of equity over the next few years. Just wondering if there’s any alternative ways you could raise equity in lieu of issuing it, like selling non-core assets or something like that? Thanks.

Pat Vincent-Collawn: Those are obviously alternatives, but we think issuing equity is the best way to do it. We don’t really have any noncore assets. We are obviously in the process of selling NMRD and everything else is core to our business, and we’d like to continue to invest in our business. And I’d rather raise equity and invest in the business and get a return on it than sell a piece of the business.

Brandon Lee: Okay, perfect. That’s all I had. Thanks.

Pat Vincent-Collawn: Thank you.

Operator: [Operator Instructions] At this time, we have no further questions. This concludes our question-and-answer session. I would like to turn the conference over to Pat Vincent-Collawn for any closing remarks.

Pat Vincent-Collawn: Thank you, Dave and thank you all for joining us this morning. We are looking forward to seeing many of you in a couple of weeks at EI. Until then, make sure you raise the toast to your cranky and non-cranky coworkers this evening and have a safe and happy Halloween. Thank you all.

Operator: The conference has concluded. Thank you for attending today’s presentation. You may now disconnect.