Stock Market Watch -Earnings Updates for (NYSE: AEP, KBR, PNM) -

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American Electric Power Company, Inc. (NYSE:AEP) reported that third-quarter net income rose 18% on 16% lower revenue. Net income reached $443 million from $374 million in the year-earlier quarter. Earnings per share were flat at 93 cents as shares outstanding rose 19% to 477 million. Michael G. Morris, chairman, president and chief executive, said in a Thursday statement that the company was pleased with the results given a number of negative factors, including cool summer weather and a weak economy. The company sharpened its earnings estimate for 2009 to a range of $2.90 to $3.05 a share. Its previous estimate was $2.75 to $3.05.

KBR, Inc. (NYSE:KBR) reported that third-quarter net income fell 14% on 5.9% lower revenue. Profit was $73 million, or 45 cents a share, compared with $85 million, or 51 cents, in the year-earlier quarter. Revenue declined to $2.84 billion from $3.02 billion. A survey of analysts by FactSet Research produced consensus estimates of 41 cents of profit on $2.89 billion of revenue.

PNM Resources, Inc. (NYSE:PNM) swung to a third-quarter profit of $54.2 million, or 59 cents a share, against a loss of $5.4 million, or 6 cents, in the year-ago period. A survey of analysts at FactSet Research was forecasting earnings of 38 cents a share. Revenue at PNM fell to $477.7 million from $607 million in the year-ago period. The company updated its 2009 earnings range to a forecast of 76 to 81 cents a share, from a previous range of 40 to 55 cents. The increase was largely due to First Choice Power's financial performance.