PNM Resources, Inc. (Holding Co.)

Good day and welcome to the PNM Resources third quarter 2023 conference call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star, then one on a touch-tone phone. To withdraw your question, please press star, then two. Please note this event is being recorded. I would now like to turn the conference over to Lisa Goodman, Investor Relations. Please go ahead.

Thank you, Dave, and thank you everyone for joining us this morning for the PNM Resources Third Quarter 2023 Earnings Call. Please note that the presentation for this conference call and other supporting documents are available on our website at pnmresources.com. Joining me today are PNM Resources Chairman and CEO, Pat Vincent Kalon, President and Chief Operating Officer, Don Terry, and Senior Vice President, Chief Financial Officer and Treasurer, Lisa Eden. Before I turn the call over to Pat, I need to remind you that some of the information provided this morning should be considered forward-looking statements pursuant to the Private Securities Litigation Reform Act of 1995. We caution you that all of the forward-looking statements are based upon current expectations and estimates, and that PNM Resources assumes no obligation to update this information. For a detailed discussion of factors affecting PNM Resources results, please refer to our current and future annual reports on Form 10-K, quarterly reports on Form 10-Q, as well as reports on Form 8-K filed with the SEC. With that, I will turn the call over to Pat.

Thank you, Lisa. Good morning, everyone. And thank you for joining us today on Cranky Coworkers Day. And yes, you can Google it. It is a real day. Now, we are sure none of you have any cranky coworkers or that none of you are one of those cranky coworkers, and none of us surely are. But we're going to celebrate the day just in case. I'm going to start on slide four with our financial results and strategic updates. Ongoing earnings were $1.54 for the third quarter compared to $1.46 last year. Summer temperatures were hotter across New Mexico and Texas and had a significant impact on earnings. We are adjusting our guidance for the year to a range of $2.75 to $2.80 per share. Lisa will walk through the details. The New Mexico Supreme Court held oral arguments on our merger with Avangard on September 15th. This was the final step in the appeal process and there is no timeline for when the court will issue its decision. And yes, we reprise Tom Petty because we agree that the waiting is the hardest part. As a reminder, the court has two options, to uphold the commission's decision or to vacate the order and remand the case back to the commission. If there is a remand, the Commission will determine the next steps on how to respond to the court's order. The merger agreement was previously extended through December, with the option for a further three-month extension through March. Separately, the sale of our joint venture, NMRD, remains on track. The renewable projects in this portfolio are attractive assets, even in the current challenging market, and we are working to evaluate the bids. We expect to close the sale in the late fourth quarter or early first quarter. With that, I'll turn it over to Don.