8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported)	November 2, 2012
	(November 2, 2012)

Commission	Name of Registrants, State of Incorporation,	I.R.S. Employer
File Number	Address and Telephone Number	Identification No.
001-32462	PNM Resources, Inc.	85-0468296
	(A New Mexico Corporation)
	Alvarado Square
	Albuquerque, New Mexico 87158
	(505) 241-2700
001-06986	Public Service Company of New Mexico	85-0019030
	(A New Mexico Corporation)
	Alvarado Square
	Albuquerque, New Mexico 87158
	(505) 241-2700
002-97230	Texas-New Mexico Power Company	75-0204070
	(A Texas Corporation)
	577 N. Garden Ridge Blvd.
	Lewisville, Texas 75067
	(972) 420-4189
______________________________
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 Pre-commencement communications pursuant to Rule 13e-4 (c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02Results of Operations and Financial Condition.

On November 2, 2012, PNM Resources, Inc. (the “Company”) issued a press release announcing its results of operations for the three months and nine months ended September 30, 2012. The press release is furnished herewith as Exhibit 99.1 and incorporated by reference herein.

The Company's press release and other communications from time to time may include certain financial measures that are not determined in accordance with generally accepted accounting principles in the United States of America ("GAAP"). A “non-GAAP financial measure” is defined as a numerical measure of a company's financial performance, financial position or cash flows that excludes (or includes) amounts that are included in (or excluded from) the most directly comparable measure calculated and presented in accordance with GAAP in the company's financial statements.

Non-GAAP financial measures utilized by the Company include presentations, on an ongoing basis, of revenues, operating expenses, operating income, other income and deductions, net earnings, and earnings per share. The Company uses ongoing earnings and ongoing earnings per diluted share (or ongoing diluted earnings per share) to evaluate the operations of the Company and to establish goals for management and employees. Certain non-GAAP financial measures utilized by the Company exclude the impact of net unrealized mark-to-market gains and losses on economic hedges, the net change in unrealized impairments on assets held in trusts for nuclear decommissioning, and certain other non-recurring or infrequent items. The Company's management believes that these non-GAAP financial measures provide useful information to investors by removing the effect of variances in GAAP reported results of operations that are not indicative of fundamental changes in the earnings capacity of the Company's operations. Management also believes that the presentation of the non-GAAP financial measures is largely consistent with its past practice, as well as industry practice in general, and will enable investors and analysts to compare current non-GAAP measures with non-GAAP measures with respect to prior periods.

The non-GAAP financial measures used by the Company should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP.

The Company uses ongoing earnings guidance to provide investors with management's expectations of ongoing financial performance over the period presented. While the Company believes ongoing earnings guidance is an appropriate measure, it is not a measure presented in accordance with GAAP. The Company does not intend for ongoing earnings guidance to represent an expectation of net earnings as defined by GAAP. Management is generally not able to estimate the impact of the reconciling items between ongoing earnings guidance and forecasted GAAP earnings, nor their probable impact on GAAP earnings; therefore, management is generally not able to provide a corresponding GAAP equivalent for earnings guidance. Reconciling items may include revenues and expenses resulting from transactions that do not occur in the normal course of the Company's business operations, as well as net unrealized mark-to-market gains and losses on economic hedges and the net change in unrealized impairments on assets held in trusts for nuclear decommissioning, as discussed above.

Limitation on Incorporation by Reference

In accordance with general instruction B.2 of Form 8-K, the information in this report, including exhibits, is furnished pursuant to Item 2.02 and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liability of that section and not deemed incorporated by reference in any filing under the Securities Act of 1933.

Item 9.01Financial Statements and Exhibits.

(d) Exhibits:

Exhibit NumberDescription

99.1        Press Release dated November 2, 2012.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned thereunto duly authorized.

	PNM RESOURCES, INC.
	PUBLIC SERVICE COMPANY OF NEW MEXICO
	TEXAS-NEW MEXICO POWER COMPANY
	(Registrants)
Date: November 2, 2012	/s/ Thomas G. Sategna
	Thomas G. Sategna
	Vice President and Corporate Controller
	(Officer duly authorized to sign this report)

EX-99..1

Exhibit 99.1

For Immediate Release

Nov. 2, 2012

PNM Resources Reports Third Quarter Results

Company narrows 2012 ongoing earnings guidance range

Conference call scheduled for 11 a.m. Eastern today

THIRD QUARTER SUMMARY⁽¹⁾ 

• GAAP (generally accepted accounting principles) earnings of $0.72 per diluted share, compared with $0.48 per diluted share in 2011

• Ongoing earnings of $0.69 per diluted share, compared with $0.61 per diluted share in 2011

YEAR-TO-DATE SUMMARY⁽¹⁾ 

• GAAP earnings of $1.20 per diluted share, compared with $0.70 per diluted share in 2011

• Ongoing earnings of $1.18 per diluted share, compared with $0.85 per diluted share in 2011

(ALBUQUERQUE, N.M.) - PNM Resources (NYSE: PNM) today reported unaudited 2012 third quarter consolidated GAAP earnings of $57.9 million, or $0.72 per diluted share, compared with $43.7 million, or $0.48 per diluted share, in 2011.

Quarterly unaudited consolidated ongoing earnings were $55.1 million, or $0.69 per diluted share, compared with $56.0 million, or $0.61 per diluted share, in 2011.Reconciliations of GAAP to non-GAAP measures such as ongoing earnings are shown on the attached schedules 1 through 4.

“One year since our return to a regulated utility model, we are continuing to see the benefits of our focus on achieving strong results at PNM and TNMP,” said Pat Collawn, PNM Resources chairman, president and CEO. “Both companies are benefiting from rate structures that keep better pace with investments made to serve customers and continued process improvement efforts to keep our operating expenses low. We made additional progress in the past quarter toward recovery of investments at PNM with the implementation of a rate rider for renewable energy.”

Quarterly financial materials are available at http://www.pnmresources.com/investors/results.cfm.

YEAR-TO-DATE RESULTS

For the first nine months of 2012, PNM Resources reported unaudited consolidated GAAP earnings of $96.5 million, or $1.20 per diluted share, compared with $64.4 million, or $0.70 per diluted share, in 2011. Unaudited consolidated ongoing earnings for the first nine months of 2012 were $95.1 million, or $1.18 per diluted share, compared with $78.0 million, or $0.85 per diluted share, in 2011.

⁽¹⁾2011 quarterly and year-to-date consolidated ongoing earnings included the contributions of the company's former competitive businesses, First Choice Power and Optim Energy. 2011 GAAP earnings included First Choice Power, but Optim Energy had no impact on GAAP results.

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PNM Resources Reports Q3 Earnings11-2-12 p. 2 of 3

SEGMENT REPORTING OF 2012 THIRD QUARTER EARNINGS

PNM - a vertically integrated electric utility in New Mexico with distribution, transmission and generation assets.

• PNM reported ongoing earnings of $48.7 million, or $0.61 per diluted share, compared with $41.7 million, or $0.45 per diluted share, in 2011. GAAP earnings were $50.8 million, or $0.63 per diluted share, compared with $38.3 million, or $0.42 per diluted share, during the same period in 2011.

• Primary drivers for improved earnings per diluted share were the implementation of higher retail and FERC generation rates, O&M cost savings and PNM Resources' recapitalization of the business through repurchase of outstanding equity securities. The recapitalization was accomplished with proceeds from the company's exit from its competitive businesses. Primary factors that negatively affected performance were cooler weather compared to last year, lower market prices for Palo Verde Nuclear Generating Station Unit 3 and higher interest expense from the issuance of long-term debt in late 2011. Year-to-date load growth has been neutral relative to 2011.

TNMP - an electric transmission and distribution utility in Texas.

• TNMP reported ongoing and GAAP earnings of $9.1 million, or $0.11 per diluted share, compared with ongoing earnings of $9.0 million and GAAP earnings of $8.9 million, or $0.10 per diluted share in 2011.

• Strong load growth was offset by weather that was cooler than last year's record-breaking heat. PNM Resources' purchase of outstanding equity securities following its exit from its competitive businesses improved earnings per diluted share at TNMP.

Corporate/Other - a segment that reflects costs at the PNM Resources holding company, mainly comprised of interest expense.

• Corporate/Other reported ongoing losses of $2.7 million, or $0.03 per diluted share, and GAAP losses of $2.0 million, or $0.02 per diluted share, compared with 2011 ongoing losses of $2.7 million, or $0.02 per diluted share, and GAAP losses of $4.1 million, or $0.05 per diluted share.

• The repurchase of long-term debt in late 2011 in connection with the recapitalization of the utility businesses decreased interest expense and improved performance.

2012 ONGOING EARNINGS GUIDANCE RANGE TIGHTENED

PNM Resources today narrowed its 2012 consolidated ongoing earnings range to $1.26 and $1.32 per diluted share. The previous range was $1.20 to $1.32 per diluted share. The company intends to provide guidance for 2013 on Dec. 7, 2012.

THIRD QUARTER EARNINGS CALL: 11 A.M. EASTERN TODAY

PNM Resources will discuss third quarter earnings results, financial forecasts and other relevant company matters during a live conference call and Web cast today at 11 a.m. Eastern. Speaking on the call will be Pat Collawn, PNM Resources chairman, president and CEO, and Chuck Eldred, PNM Resources executive vice president and CFO.

A live Web cast of the call will be archived at http://www.pnmresources.com/investors/events.cfm. Listeners are encouraged to visit the website at least 30 minutes before the event to register, download and install any necessary audio software.

(MORE)

PNM Resources Reports Q3 Earnings11-2-12 p. 3 of 3

Investors and analysts can participate in the live conference call by dialing (877) 377-7098 or (631) 291-4547 (international calls) and referencing “the PNM Resources third-quarter earnings conference call.” A telephone replay will be available at 2 p.m. Eastern until midnight Nov. 16 by dialing (855) 859-2056 or (404) 537-3406 and using conference ID 33459547. Supporting material for PNM Resources' earnings announcements can be viewed and downloaded at http://www.pnmresources.com/investors/results.cfm.

Background:

PNM Resources (NYSE: PNM) is an energy holding company based in Albuquerque, N.M., with 2011 consolidated operating revenues of $1.3 billion, excluding First Choice Power. Through its regulated utilities, PNM and TNMP, PNM Resources has approximately 2,530 megawatts of generation capacity and serves electricity to more than 738,000 homes and businesses in New Mexico and Texas. For more information, visit the company's Web site atwww.PNMResources.com.

(END)

CONTACTS:

AnalystsMedia

Jimmie BlotterValerie Smith

(505) 241-2227(505) 241-2892

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

Statements made in this news release that relate to future events or PNM Resources' (“PNMR”), Public Service Company of New Mexico's (“PNM”), or Texas-New Mexico Power Company's (“TNMP”) (collectively, the “Company”) expectations, projections, estimates, intentions, goals, targets, and strategies are made pursuant to the Private Securities Litigation Reform Act of 1995. Readers are cautioned that all forward-looking statements are based upon current expectations and estimates. PNMR, PNM, and TNMP assume no obligation to update this information. Because actual results may differ materially from those expressed or implied by these forward-looking statements, PNMR, PNM, and TNMP caution readers not to place undue reliance on these statements. PNMR's, PNM's, and TNMP's business, financial condition, cash flow, and operating results are influenced by many factors, which are often beyond their control, that can cause actual results to differ from those expressed or implied by the forward-looking statements. For a discussion of risk factors and other important factors affecting forward-looking statements, please see the Company's Form 10-K and Form 10-Q filings with the Securities and Exchange Commission, which are specifically incorporated by reference herein.

Non-GAAP Financial Measures

The Company uses ongoing earnings and ongoing earnings per diluted share (or ongoing diluted earnings per share) to evaluate the operations of the Company and to establish goals for management and employees. While the Company believes these financial measures are appropriate and useful for investors, they are not measures presented in accordance with generally accepted accounting principles in the U.S. (GAAP). The Company does not intend for these measures, or any piece of these measures, to represent any financial measure as defined by GAAP. Furthermore, the Company's calculations of these measures as presented may or may not be comparable to similarly titled measures used by other companies. The Company uses ongoing earnings guidance to provide investors with management's expectations of ongoing financial performance over the period presented. While the Company believes ongoing earnings guidance is an appropriate measure, it is not a measure presented in accordance with GAAP. The Company does not intend for ongoing earnings guidance to represent an expectation of net earnings as defined by GAAP. Management is generally not able to estimate the impact of the reconciling items between ongoing earnings guidance and forecasted GAAP earnings, nor their probable impact on GAAP earnings; therefore, management is generally not able to provide a corresponding GAAP equivalent for earnings guidance.

PNM Resources

Schedule 1

Reconciliation of Ongoing to GAAP Earnings

(Preliminary and Unaudited)

	PNM Electric			TNMP Electric			Corporate and Other			Consolidated
	(in thousands)
Three Months Ended September 30, 2012
GAAP Net Earnings (Loss) Attributable to PNMR:	$	50,779		$	9,084		$	(1,999	)	$	57,864
Adjusting items, net of income tax effects
Building consolidation	144			42			—			186
Gain on sale of First Choice	—			—			(651		)	(651		)
Mark-to-market impact of economic hedges	662			—			—			662
Net change in unrealized impairments of NDT securities	(2,769		)	—			—			(2,769		)
Process improvement initiatives	(145		)	(43		)	—			(188		)
Total Adjustments	(2,108		)	(1		)	(651		)	(2,760		)
Ongoing Earnings (Loss)	$	48,671		$	9,083		$	(2,650	)	$	55,104
Nine Months Ended September 30, 2012
GAAP Net Earnings (Loss) Attributable to PNMR:	$	85,211		$	20,113		$	(8,868	)	$	96,456
Adjusting items, net of income tax effects
Building consolidation	144			42			—			186
Gain on sale of First Choice	—			—			(651		)	(651		)
Mark-to-market impact of economic hedges	1,858			—			—			1,858
Net change in unrealized impairments of NDT securities	(3,263		)	—			—			(3,263		)
Process improvement initiatives	427			124			—			551
Total Adjustments	(834		)	166			(651		)	(1,319		)
Ongoing Earnings (Loss)	$	84,377		$	20,279		$	(9,519	)	$	95,137
Income tax effects calculated using tax rates of 35.00% for TNMP and 39.59% for all other segments unless otherwise noted

PNM Resources

Schedule 2

Reconciliation of Ongoing to GAAP Earnings

(Preliminary and Unaudited)

	PNM Electric			TNMP Electric		First Choice			Optim Energy    (50%)(2)			Corporate and Other			Consolidated
	(in thousands)
Three Months Ended September 30, 2011
GAAP Net Earnings (Loss) Attributable to PNMR:	$	38,329		$	8,868	$	613		$	—		$	(4,148	)	$	43,662
Adjusting items, net of income tax effects(1)
Mark-to-market impact of economic hedges	(1,612		)	—		2,443			(283		)	—			548
Net change in unrealized impairments of NDT securities	3,058			—		—			—			—			3,058
Process improvement initiatives	463			159		29			—			—			651
Strategic alternatives - competitive businesses	—			—		—			—			1,461			1,461
New Mexico gross receipts tax adjustments	1,471			—		—			—			—			1,471
Equity in net earnings (loss) of Optim Energy	—			—		—			5,154			—			5,154
Total Adjustments	3,380			159		2,472			4,871			1,461			12,343
Ongoing Earnings (Loss)	$	41,709		$	9,027	$	3,085		$	4,871		$	(2,687	)	$	56,005
Nine Months Ended September 30, 2011
GAAP Net Earnings (Loss) Attributable to PNMR:	$	40,474		$	17,134	$	20,721		$	—		$	(13,963	)	$	64,366
Adjusting items, net of income tax effects(1)
Mark-to-market impact of economic hedges	(2,488		)	—		(1,125		)	(1,078		)	—			(4,691		)
Net change in unrealized impairments of NDT securities	2,702			—		—			—			—			2,702
Process improvement initiatives	2,227			445		92			—			47			2,811
Regulatory disallowances	10,559			2,550		—			—			—			13,109
Strategic alternatives - competitive businesses	—			—		—			—			2,367			2,367
New Mexico gross receipts tax adjustments	1,471			—		—			—			—			1,471
Equity in net earnings (loss) of Optim Energy	—			—		—			(4,167		)	—			(4,167		)
Total Adjustments	14,471			2,995		(1,033		)	(5,245		)	2,414			13,602
Ongoing Earnings (Loss)	$	54,945		$	20,129	$	19,688		$	(5,245	)	$	(11,549	)	$	77,968
(1) Income tax effects calculated using tax rates of 35.65% for First Choice, 35.00% for TNMP and 39.59% for all other segments
(2) Optim Energy included through August 31, 2011

PNM Resources

Schedule 3

Reconciliation of Ongoing to GAAP Earnings Per Diluted Share

(Preliminary and Unaudited)

	PNM Electric			TNMP Electric		Corporate and Other			Consolidated
	(per diluted share)
Three Months Ended September 30, 2012
GAAP Net Earnings (Loss) Attributable to PNMR:	$	0.63		$	0.11	$	(0.02	)	$	0.72
Adjusting items
Building consolidation	—			—		—			—
Gain on sale of First Choice	—			—		(0.01		)	(0.01		)
Mark-to-market impact of economic hedges	0.01			—		—			0.01
Net change in unrealized impairments of NDT securities	(0.03		)	—		—			(0.03		)
Process improvement initiatives	—			—		—			—
Total Adjustments	(0.02		)	—		(0.01		)	(0.03		)
Ongoing Earnings (Loss)	$	0.61		$	0.11	$	(0.03	)	$	0.69
Average Diluted Shares Outstanding: 80,390,385
Nine Months Ended September 30, 2012
GAAP Net Earnings (Loss) Attributable to PNMR:	$	1.06		$	0.25	$	(0.11	)	$	1.20
Adjusting items
Building consolidation	—			—		—			—
Gain on sale of First Choice	—			—		(0.01		)	(0.01		)
Mark-to-market impact of economic hedges	0.02			—		—			0.02
Net change in unrealized impairments of NDT securities	(0.04		)	—		—			(0.04		)
Process improvement initiatives	0.01			—		—			0.01
Total Adjustments	(0.01		)	—		(0.01		)	(0.02		)
Ongoing Earnings (Loss)	$	1.05		$	0.25	$	(0.12	)	$	1.18
Average Diluted Shares Outstanding: 80,410,479

PNM Resources

Schedule 4

Reconciliation of Ongoing to GAAP Earnings Per Diluted Share

(Preliminary and Unaudited)

	PNM Electric			TNMP Electric		First Choice			Optim Energy (50%)*			Corporate and Other			Consolidated
	(per diluted share)
Three Months Ended September 30, 2011
GAAP Net Earnings (Loss) Attributable to PNMR:	$	0.42		$	0.10	$	0.01		$	—		$	(0.05	)	$	0.48
Adjusting items
Mark-to-market impact of economic hedges	(0.02		)	—		0.02			—			—			—
Net change in unrealized impairments of NDT securities	0.03			—		—			—			—			0.03
Process improvement initiatives	0.01			—		—			—			—			0.01
Strategic alternatives - competitive businesses	—			—		—			—			0.03			0.03
New Mexico gross receipts tax adjustments	0.01			—		—			—			—			0.01
Equity in net earnings (loss) of Optim Energy	—			—		—			0.05			—			0.05
Total Adjustments	0.03			—		0.02			0.05			0.03			0.13
Ongoing Earnings (Loss)	$	0.45		$	0.10	$	0.03		$	0.05		$	(0.02	)	$	0.61
Average Diluted Shares Outstanding: 91,742,267
Nine Months Ended September 30, 2011
GAAP Net Earnings (Loss) Attributable to PNMR:	$	0.44		$	0.19	$	0.22		$	—		$	(0.15	)	$	0.70
Adjusting items
Mark-to-market impact of economic hedges	(0.03		)	—		(0.01		)	(0.01		)	—			(0.05		)
Net change in unrealized impairments of NDT securities	0.03			—		—			—			—			0.03
Process improvement initiatives	0.03			—		—			—			—			0.03
Regulatory disallowances	0.12			0.03		—			—			—			0.15
Strategic alternatives - competitive businesses	—			—		—			—			0.03			0.03
New Mexico gross receipts tax adjustments	0.01			—		—			—			—			0.01
Equity in net earnings (loss) of Optim Energy	—			—		—			(0.05		)	—			(0.05		)
Total Adjustments	0.16			0.03		(0.01		)	(0.06		)	0.03			0.15
Ongoing Earnings (Loss)	$	0.60		$	0.22	$	0.21		$	(0.06	)	$	(0.12	)	$	0.85
Average Diluted Shares Outstanding: 91,980,853
* Optim Energy included through August 31, 2011