Filing Flows › Txnm Energy (TXNM) › Q4 2025
Txnm Energy (TXNM) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 27, 2026
Txnm Energy (TXNM) reported revenue of $533M for the fourth quarter 2025 (Q4 2025), +12% from a year earlier and -18% from the quarter before. Operating margin was 17.6%, net loss $5.3M (1.0% of revenue).
Txnm Energy, Q4 2025: revenue $533M (+12% year over year), operating margin 17.6%, net loss $5.3M, operating cash flow $158M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $533M | -18% | +12% |
| Operating profit | $93.7M | -54% | — |
| Net earnings | −$5.3M | -104% | — |
| Operating cash flow | $158M | -44% | -0.6% |
What changed
Revenue was $533.2M in Q4 2025, up 12% year over year and down 18% from the previous quarter.
Operating profit was $93.7M, a 17.6% margin (up 1.6 points year over year). Of the extra revenue versus a year earlier, 31% reached operating profit, above the 16% margin then. Total costs grew 10% against revenue growth of 12%. The fastest-growing cost line was Other operating costs (+11%). The quarter ended with a net loss of $5.3M, after a profit of $136.3M the previous quarter. Net interest and other expense of $110.1M was the main reason.
Operating cash flow was $157.7M (down 1% year over year). Non-cash charges added back $122.3M of depreciation and amortization and $2.0M of share-based compensation. Working capital and other items added $38.7M. Capital expenditures of $309.8M exceeded it, leaving free cash flow of −$152.1M.
Questions
What was Txnm Energy's revenue in the fourth quarter 2025?
Txnm Energy (TXNM) reported revenue of $533M for the fourth quarter 2025 (Q4 2025), +12% from a year earlier and -18% from the quarter before.
Was Txnm Energy profitable in the fourth quarter 2025?
Operating profit was $93.7M (17.6% of revenue) and net loss $5.3M.
Source: Txnm Energy 10-K on SEC EDGAR.