Black Hills Corporation
Description
Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. The company operates in two segments: Electric Utilities and Gas Utilities. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 222,000 electric utility customers in Colorado, Montana, South Dakota, and Wyoming; and owns and operates 1,394 megawatts of generation capacity and 9,106 miles of electric transmission and distribution lines. The Gas Utilities segment distributes natural gas to approximately 1,116,000 natural gas utility customers in Arkansas, Colorado, Iowa, Kansas, Nebraska, and Wyoming; owns and operates 4,663 miles of intrastate gas transmission pipelines; 42,514 miles of gas distribution mains and service lines; seven natural gas storage sites; and approximately 50,000 horsepower of compression and 516 miles of gathering lines. It also constructs and maintains customer owned gas infrastructure facilities for gas transportation customers; and provides appliance repair services to residential utility customers, as well as electrical system construction services to large industrial customers. In addition, the company produces electric power through wind, natural gas, and coal-fired generating plants; and coal at its coal mine located near Gillette, Wyoming. Black Hills Corporation was incorporated in 1941 and is headquartered in Rapid City, South Dakota.
About
CEO
Mr. Linden R. Evans
Employees
2,874
Instrument type
Common Stock
Sector
Utilities
Industry
Utilities - Regulated Gas
MIC code
XNYS
Address
7001 Mount Rushmore Road, Rapid City, SD 57702, United States
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Oscillators
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Summary
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Moving Averages
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Earnings
| Date | Estimate EPS | Actual EPS | Difference | % Surprise |
|---|---|---|---|---|
| Nov 4, 2025 | — | — | — | — |
| Jul 29, 2025 | — | — | — | — |
| May 6, 2025 | — | — | — | — |
| Feb 5, 2025 | 1.20 | — | — | — |
Earnings estimate
|
Next Quarter
(Mar 2025)
|
Next Year
(Dec 2025)
|
|||
|---|---|---|---|---|
| Number of analysts | — | 2 | — | 4 |
| Average estimate | — | 1.84 | — | 4.10 |
| Low estimate | — | 1.72 | — | 4.05 |
| High estimate | — | 1.96 | — | 4.15 |
| Last year EPS | — | 1.87 | — | 3.88 |
[stock_revenue_estimate]
Growth estimates
Current qtr
14.530%
Next qtr. (Mar 2025)
-1.600%
Current year
-0.770%
Next year (Dec 2025)
5.540%
Next 5 years (per annum)
—
Past 5 years (per annum)
—
Income statement
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total reported revenue | 2.33B | 2.55B | 1.95B | 1.70B | 1.73B |
| Cost of revenue | 1.53B | 1.78B | 1.24B | 987.81M | 1.07B |
| Gross profit | 796.40M | 772.80M | 705.50M | 709.13M | 668.08M |
| Operating expense | |||||
| Research & development | — | — | — | — | — |
| Selling general and admin | — | — | — | — | — |
| Other operating expenses | — | — | — | — | — |
| Operating income | 472.70M | 455.20M | 409.40M | 428.30M | 406.04M |
| Non operating interest income | |||||
| Income | 12.10M | 1.60M | 1.70M | 1.46M | 1.63M |
| Expense | 180.00M | 162.60M | 154.10M | 144.93M | 139.29M |
| Other income expense | -3.20M | 1.80M | 1.40M | -9.15M | -25.48M |
| Pretax income | 301.60M | 296.00M | 258.40M | 275.68M | 242.90M |
| Tax provision | 25.60M | 25.20M | 7.20M | 32.92M | 29.58M |
| Net income | 276.00M | 270.80M | 251.20M | 242.76M | 213.32M |
| Basic EPS | 3.91 | 3.98 | 3.74 | 3.65 | 3.29 |
| Diluted EPS | 3.91 | 3.97 | 3.74 | 3.65 | 3.28 |
| Basic average shares | 67.00M | 64.86M | 62.58M | 62.38M | 60.66M |
| Diluted average shares | 67.00M | 64.86M | 62.58M | 62.38M | 60.66M |
| EBITDA | 738.40M | 709.50M | 648.50M | 651.93M | 611.05M |
| Net income from continuing op. | 276.00M | 270.80M | 251.20M | 242.76M | 213.32M |
| Minority interests | -13.80M | -12.40M | -14.50M | -15.16M | -14.01M |
| Preferred stock dividends | — | — | — | — | — |
Balance sheet
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total assets | 9.62B | 9.62B | 9.13B | 8.09B | 7.56B |
| Current assets | |||||
| Cash | — | — | — | — | — |
| Cash equivalents | — | — | — | — | — |
| Cash and cash equivalents | 86.60M | 21.40M | 8.92M | 6.36M | 9.78M |
| Other short term investments | — | — | — | — | — |
| Accounts receivable | 198.50M | 267.60M | 181.03M | 146.90M | 144.75M |
| Other receivables | — | — | — | — | — |
| Inventory | 160.90M | 207.40M | 150.98M | 117.40M | 117.17M |
| Prepaid assets | — | — | — | — | — |
| Restricted cash | 6.40M | 5.60M | 4.89M | 4.38M | 3.88M |
| Assets held for sale | — | — | — | — | — |
| Hedging assets | — | 600,000 | 4.37M | 1.85M | 342,000 |
| Other current assets | 203.90M | 310.90M | 299.30M | 77.90M | 69.76M |
| Non current assets | |||||
| Properties | 19.30M | 19.30M | 14.15M | 209.63M | 209.53M |
| Land and improvements | — | — | — | — | — |
| Machinery furniture equipment | — | — | — | — | — |
| Construction in progress | — | — | — | — | — |
| Leases | — | — | — | — | — |
| Accumulated depreciation | -1.80B | -1.58B | -1.41B | -1.29B | -1.28B |
| Goodwill | 2.61B | 2.61B | 2.61B | 2.61B | 2.61B |
| Investment properties | — | — | — | — | — |
| Financial assets | — | — | — | — | — |
| Intangible assets | 8.40M | 9.60M | 10.77M | 11.94M | 13.27M |
| Investments and advances | — | — | — | — | 21.93M |
| Other non current assets | 62.20M | 46.70M | 38.05M | 37.80M | 41.31M |
| Total liabilities | 6.31B | 6.53B | 6.24B | 5.43B | 5.09B |
| Current liabilities | |||||
| Accounts payable | 186.40M | 310.00M | 217.76M | 183.34M | 193.52M |
| Accrued expenses | 89.80M | 80.50M | 70.68M | 66.52M | 64.66M |
| Short term debt | 600.00M | 1.06B | 420.18M | 242.48M | 355.24M |
| Deferred revenue | 76.00M | 47.70M | 48.81M | 52.19M | 54.73M |
| Tax payable | 52.70M | 52.40M | 50.87M | 47.11M | 44.55M |
| Pensions | 74.80M | 62.90M | 74.39M | 77.81M | 62.84M |
| Other current liabilities | 105.40M | 52.60M | 19.01M | 27.11M | 35.76M |
| Non current liabilities | |||||
| Long term debt | 3.80B | 3.61B | 4.13B | 3.53B | 3.14B |
| Provision for risks and charges | — | — | — | — | — |
| Deferred liabilities | 548.00M | 508.90M | 465.39M | 408.62M | 360.72M |
| Derivative product liabilities | — | — | — | — | — |
| Other non current liabilities | 188.70M | 156.10M | 141.45M | 134.67M | 124.66M |
| Shareholders equity | |||||
| Common stock | 68.30M | 66.10M | 64.79M | 62.83M | 61.48M |
| Retained earnings | 1.16B | 1.06B | 962.46M | 870.74M | 778.78M |
| Other shareholders equity | -14.80M | -15.60M | -20.08M | -27.35M | -30.66M |
| Total shareholders equity | 3.31B | 3.09B | 2.89B | 2.66B | 2.46B |
| Additional paid in capital | 2.01B | 1.88B | 1.78B | 1.66B | 1.55B |
| Treasury stock | 4.10M | 2.40M | 3.51M | 2.12M | 267,000 |
| Minority interest | 90.50M | 95.00M | 100.03M | 101.26M | 101.95M |
Cash flow statement
| 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 | 1996 | 1995 | 1994 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||||||||||||||||||||||||
| Net Income | 276.00M | 270.80M | 251.20M | 242.76M | 213.32M | 279.55M | 208.38M | 146.79M | 141.55M | 130.89M | 118.31M | 109.42M | 40.37M | 63.14M | 78.76M | -52.04M | 98.77M | 81.02M | 33.42M | 57.65M | 60.96M | 61.23M | 87.55M | 52.85M | 37.10M | 25.80M | 32.40M | 30.30M | 25.60M | 23.80M |
| Depreciation | 256.80M | 250.90M | 236.00M | 224.46M | 209.12M | 196.33M | 188.25M | 175.53M | 126.53M | 144.75M | 137.32M | 145.92M | 135.59M | 126.61M | 121.30M | 107.26M | 99.70M | 94.08M | 88.12M | 87.83M | 80.79M | 63.87M | 54.05M | 32.86M | 25.10M | 24.00M | — | — | — | — |
| Deferred Taxes | 25.40M | 25.60M | 7.30M | 38.09M | 38.02M | -24.24M | 80.99M | 82.70M | 74.70M | 70.23M | 65.22M | 51.54M | 33.60M | 17.35M | 39.74M | 2.06M | 31.41M | 33.23M | -8.78M | 29.19M | -3.74M | 33.46M | 9.79M | 1.94M | 2.30M | -2.50M | 2.50M | 1.90M | 2.10M | 2.50M |
| Stock-Based Compensation | 7.00M | 8.60M | 9.70M | 5.37M | 12.10M | 12.39M | 7.63M | 10.89M | 4.08M | 9.33M | 12.60M | 8.27M | 5.64M | 5.64M | 3.98M | 2.66M | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Non-Cash Items | -15.10M | -10.00M | 14.10M | 11.51M | 17.62M | 7.67M | -32.63M | -43.02M | -17.74M | 7.08M | 4.40M | -21.54M | -12.50M | -9.14M | -39.20M | 60.48M | 7.90M | 14.27M | 47.56M | — | 5.63M | 4.10M | — | 2.44M | 5.20M | 24.00M | 22.30M | 25.20M | 23.30M | 23.30M |
| Accounts Receivable | 204.50M | -184.50M | -43.20M | -10.84M | 7.58M | -45.97M | 4.53M | -27.17M | 33.26M | -18.68M | -18.95M | 13.74M | -4.20M | -18.48M | 78.89M | -50.96M | -32.81M | 2.21M | -46.33M | -75.62M | -75.67M | -61.36M | 181.74M | -201.31M | — | — | — | — | — | — |
| Accounts Payable | -109.90M | 89.40M | 10.60M | 24.66M | -34.91M | 5.31M | -28.22M | -33.02M | -74.75M | 7.89M | 15.34M | -10.71M | -31.09M | -12.85M | -53.16M | -21.45M | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Assets & Liabilities | 288.20M | 128.50M | -559.90M | -13.00M | 10.51M | 49.22M | -30.03M | -9.26M | 30.77M | -50.97M | -746,000 | 22.40M | 26.39M | -21.57M | 4.94M | 4.90M | 11.76M | 15.56M | 7.75M | 10.02M | 3.21M | -2.09M | -11.13M | 15.17M | 8.50M | -6.10M | -1.10M | -1.80M | -2.10M | 1.70M |
| Operating Cash Flow | 932.90M | 579.30M | -74.20M | 523.01M | 473.37M | 480.26M | 398.89M | 303.44M | 318.40M | 300.50M | 333.49M | 319.04M | 193.80M | 150.70M | 235.25M | 52.91M | 216.74M | 240.38M | 121.72M | 109.07M | 71.18M | 99.21M | 322.00M | -96.05M | 78.20M | 65.20M | 56.10M | 55.60M | 48.90M | 51.30M |
| Investing Activities | ||||||||||||||||||||||||||||||
| Capital Expenditures | -555.60M | -604.40M | -677.50M | -767.40M | -818.38M | -457.52M | -326.01M | -454.95M | -266.38M | -398.49M | -354.75M | -349.13M | -440.70M | -472.29M | -346.87M | -328.92M | -261.37M | -308.45M | -35.62M | -90.97M | 95.57M | -231.69M | -375.58M | -134.86M | -100.70M | -27.30M | -28.30M | -24.40M | -48.20M | -100.70M |
| Net Intangibles | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Net Acquisitions | — | — | — | — | — | — | — | — | -21.97M | — | — | 107.51M | — | -2.25M | — | 835.59M | — | 40.74M | -65.12M | — | — | -23.23M | -215.68M | -28.69M | — | — | — | — | — | — |
| Purchase of Investments | — | — | — | — | — | -24.43M | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | -33.82M | -471,000 | -13.65M | -7.90M | -22.40M | -31.90M | -40.90M | -19.30M | -41.90M |
| Sale of Investments | — | — | — | — | — | — | — | — | — | — | — | — | 583,000 | 70.36M | — | — | — | — | — | — | — | — | — | 4.66M | 23.00M | 13.70M | 29.40M | 36.20M | 36.90M | 47.00M |
| Investing Cash Flow | -536.70M | -603.90M | -664.20M | -761.66M | -816.21M | -486.23M | -325.00M | -1.58B | -288.79M | -401.15M | -349.28M | 11.99M | -444.07M | -388.78M | -269.82M | -427.22M | -260.27M | -268.10M | -109.71M | -92.87M | 77.84M | -338.22M | -591.73M | -167.03M | -138.00M | -35.90M | -30.80M | -29.10M | -30.60M | -95.60M |
| Financing Activities | ||||||||||||||||||||||||||||||
| Long-Term Debt Issuance | 800.00M | — | 1.40B | 400.00M | 1.10B | 700.00M | — | 1.77B | 300.00M | 160.00M | 800.00M | — | — | 200.00M | 543.07M | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Long-Term Debt Payments | -525.00M | — | -808.40M | -8.60M | -905.74M | -854.74M | -105.74M | -1.16B | -275.00M | -415.95M | -978.06M | -511.83M | -829.68M | -829.93M | -1.13B | -613.80M | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Financing Charges | -31.30M | -16.50M | -19.80M | -22.90M | -34.64M | -30.88M | -25.32M | 183.85M | -9.28M | 17.15M | -79.33M | -2.83M | -1.67M | -8.36M | -7.57M | -12.91M | -2.18M | -2.35M | -2.28M | -3.52M | -8.92M | -8.31M | — | — | — | -100,000 | — | — | -100,000 | — |
| Financing Cash Flow | -341.70M | 32.30M | 731.90M | 216.88M | 300.21M | -17.06M | -108.70M | 841.00M | 483.70M | -312.68M | -515.12M | -643.20M | -571.51M | -607.01M | -1.18B | -10.88M | 98.31M | -42.25M | -32.28M | -39.70M | 77.12M | -34.34M | 138.87M | -31.61M | -27.20M | -24.60M | -20.10M | -19.40M | -18.70M | -16.50M |
| Other Cash Details | ||||||||||||||||||||||||||||||
| End Cash Position | 93.00M | 27.00M | 13.80M | 10.74M | 13.66M | 24.15M | 18.24M | 15.79M | 440.78M | 9.25M | 7.84M | 15.46M | 58.77M | 32.44M | 112.90M | 168.53M | 81.26M | 37.53M | 34.20M | 64.51M | 172.76M | 75.05M | 29.67M | 24.91M | 16.50M | 14.80M | 16.80M | 13.30M | 8.20M | 12.20M |
| Income Tax Paid | 1.00M | 771,000 | 1.52M | 2.17M | 4.68M | — | 1.78M | — | — | — | — | — | — | — | — | 32.99M | 14.20M | 2.69M | 12.74M | 21.93M | 58.66M | 31.35M | 40.92M | 18.52M | 13.20M | 13.10M | 11.80M | 12.60M | 7.80M | 7.30M |
| Interest Paid | 157.30M | 152.50M | 142.70M | 136.55M | 131.77M | — | — | — | — | — | — | — | — | — | — | 55.86M | 44.70M | 48.91M | 47.99M | 49.55M | 51.45M | 41.40M | 39.60M | 31.31M | 18.80M | 14.70M | 14.20M | 14.00M | 12.90M | 9.20M |
| Free Cash Flow | 388.80M | -19.60M | -742.10M | -225.54M | -312.86M | 31.29M | 102.25M | -134.47M | 158.01M | -83.18M | -30.12M | -32.16M | -216.99M | -324.54M | -76.37M | -183.28M | -9.29M | -48.76M | 36.22M | 45.71M | 80.33M | -22.84M | -201.08M | -60.39M | -28.50M | 27.40M | 27.70M | 31.00M | -2.90M | -51.80M |
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Article
Black Hills Corporation (BKH) Q4 2024 Earnings Call Transcript
Black Hills Corporation (NYSE:BKH ) Q4 2024 Results Conference Call February 6, 2025 11:00 AM ET Company Participants Salvador Diaz - Director, Investor Relations Linden Evans - President & Chief Executive Officer Kimberly Nooney - Senior Vice President & Chief Financial Officer Marne Jones - Senior Vice President-Utilities Conference Call Participants Anthony Crowdell - Mizuho Andrew Weisel - Scotiabank Julien Dumoulin-Smith - Jefferies Chris Ellinghaus - Siebert Williams Operator Good day, and thank you for standing by. Welcome to the Black Hills Corporation Q4 and Full Year 2024 Earnings Webcast and Conference Call.
Feb 6, 2025
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Black Hills Corp. Reports 2024 Fourth-Quarter and Full-Year Results and Initiates 2025 Earnings Guidance
RAPID CITY, S.D., Feb. 05, 2025 (GLOBE NEWSWIRE) -- Black Hills Corp. (NYSE: BKH) today announced financial results for the fourth quarter and full year ending Dec. 31, 2024. Operating income, net income available for common stock and earnings per share for the three and twelve months ended Dec. 31, 2024, compared to the three and twelve months ended Dec. 31, 2023, were:
Feb 5, 2025
Article
Black Hills Corp. Requests Rate Review and Rider Renewal in Kansas
RAPID CITY, S.D., Feb. 03, 2025 (GLOBE NEWSWIRE) -- Black Hills Corp. (NYSE: BKH) today announced that its Kansas natural gas utility has filed a rate review application with the Kansas Corporation Commission requesting recovery of the necessary capital infrastructure and operational costs required to deliver safe, reliable natural gas service for 120,000 Kansas customers.
Feb 3, 2025
