Filing Flows › Txnm Energy (TXNM) › Q3 2025
Txnm Energy (TXNM) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 31, 2025
Txnm Energy (TXNM) reported revenue of $647M for the third quarter 2025 (Q3 2025), +14% from a year earlier and +29% from the quarter before. Operating margin was 31.3%, net earnings $131M (20.2% of revenue).
Txnm Energy, Q3 2025: revenue $647M (+14% year over year), operating margin 31.3%, net earnings $131M, operating cash flow $282M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $647M | +29% | +14% |
| Operating profit | $203M | +179% | +6% |
| Net earnings | $131M | +506% | -0.4% |
| Operating cash flow | $282M | 80× | +57% |
| Free cash flow | $4.7M | — | — |
What changed
Revenue was $647.2M in Q3 2025, up 14% year over year and up 29% from the previous quarter.
Operating profit was $202.9M, a 31.3% margin (down 2.2 points year over year). Of the extra revenue versus a year earlier, 15% reached operating profit, below the 34% margin then. The fastest-growing cost line was Other operating costs (+809%). Net earnings were $130.7M, roughly flat year over year. The effective tax rate was 12.2%.
Operating cash flow was $282.0M (up 57% year over year), 207% of net income including minority interests. Non-cash charges added back $125.8M of depreciation and amortization and $1.4M of share-based compensation. Working capital and other items added $18.4M. Capital expenditures of $277.3M left free cash flow of $4.7M.
Questions
What was Txnm Energy's revenue in the third quarter 2025?
Txnm Energy (TXNM) reported revenue of $647M for the third quarter 2025 (Q3 2025), +14% from a year earlier and +29% from the quarter before.
Was Txnm Energy profitable in the third quarter 2025?
Operating profit was $203M (31.3% of revenue) and net earnings $131M.
Source: Txnm Energy 10-Q on SEC EDGAR.