PNM Resources, Inc. (Holding Co.)

Good day and welcome to the PNM Resources Quarter 1, 2024 conference call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing 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 your telephone keypad. To withdraw a question, you may 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, Megan, and thank you everyone for joining us this morning for the PNM Resources First Quarter 2024 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-Coulon, President and Chief Operating Officer, Don Terry, and Senior Vice President and Chief Financial Officer, 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 National Bubs Bunny Day. Bubs is a fan favorite here in Albuquerque, and not because of his what's up doc, but for admitting he should have made a left turn in Albuquerque. I'll get started on slide four with our financial results and company updates. The beat does go on. Our ongoing earnings for the first quarter are 41 cents, exceeding expectations. We are affirming our guidance for 2024 at a range of $2.65 to $2.75. We are also affirming our long-term rate-based growth and earnings growth targets. Lisa will cover the financials in more detail. Don will cover a number of operational updates at TNMP and PNM where we are making progress on our goals, and it has already been shaping up to be a busy year. Before I hand things off, I have one quick update. We closed the sale of NMRD in February and received the expected proceeds of $117 million.