New Mexico PNM Resources Pretax Earnings Declined By 33% in the First Half of 2018, an Earnings Reversal From Its Pretax Earnings Growth of 16% in Annual 2017 and of an Off-the-Charts 324% in Annual 2016, Obama’s Last Year in Office ...............................................................................

From a review of US SEC filings, there was 1 Company headquartered in New Mexico ….. PNM Resources …..  with a stock market cap of more than $1 Bil recently.

My focus is on Pretax Income rather than on After-Tax Net Income because Income Taxes are simply a transfer of financial wealth between US Corporations and the US Federal, US State and Foreign Governments.  It has nothing whatsoever to do with Company Operating Performance.

From a review of SEC filings, the chart below shows the Gold-Standard US GAAP Pretax Income (Loss) From Continuing Operations for the First Half of 2018 and 2017 for PNM Resources.

	US	US
	GAAP	GAAP
	Pretax	Pretax
	Income	Income
	(Loss)	(Loss)
	6 Months	6 Months
	Ended	Ended
	June	June	Better
	July	July	(Worse)
New Mexico Company	or Aug	or Aug	%
Market Caps Above $1 Bil	2018	2017	Change
	mils $	mils $
PNM Resources	67	100	-33%

And by the way, what was PNM Resources Pretax Earnings in 2008, George Bush's last year in office?  It was a Pretax Loss of $388 Mil.

And then what happened to PNM Resources Pretax Earnings in the following year 2009, Obama's first year in office?  It reversed course and turned into a Pretax Income of $95 Mil.