Financial Performance - Black Hills Corp. reported Q4 2024 earnings per share (EPS) of $3.91, reflecting a 4.3% growth from the midpoint of 2023 earnings guidance[5]. - The company achieved operating income of $163.3 million in Q4 2024, compared to $136.5 million in Q4 2023, and full-year operating income of $503.1 million, up from $472.7 million[1]. - Total revenue for the twelve months ended December 31, 2024, was $2,127.7 million, compared to $2,331.3 million for the same period in 2023, reflecting a decrease of approximately 8.7%[18][20]. - Net income available for common stock for the twelve months ended December 31, 2024, was $273.1 million, compared to $262.2 million for the same period in 2023, representing an increase of approximately 4.0%[18][20]. - Total revenue for the three months ended December 31, 2024, was $385.2 million, a slight increase from $380.3 million in the same period of 2023[29]. Capital Investment and Forecast - Black Hills Corp. increased its five-year capital forecast by 10% to $4.7 billion, including $1.0 billion for 2025[5]. - The company invested approximately $800 million in electric and gas infrastructure during the year, including the first phase of the $350 million Ready Wyoming transmission expansion project[2]. - Black Hills Corp. initiated 2025 earnings guidance in the range of $4.00 to $4.20 per share, based on several operational assumptions[10]. Revenue and Sales Performance - Electric Utilities revenue for the twelve months ended December 31, 2024, was $876.1 million, up from $865.0 million in 2023, indicating a growth of approximately 1.3%[18][20]. - Gas Utilities revenue decreased from $1,484.2 million in 2023 to $1,269.4 million in 2024, a decline of approximately 14.5%[18][20]. - The total quantities sold for Electric Utilities in the twelve months ended December 31, 2024, were 7,235.2 GWh, compared to 7,196.2 GWh in 2023, reflecting an increase of approximately 0.5%[23]. - Total quantities sold and transported for the twelve months ended December 31, 2024, were 1,269.4 million Dth, down from 1,484.2 million Dth in 2023, reflecting a decrease of approximately 14.4%[29]. - Retail revenue from residential customers was $215.4 million for the three months ended December 31, 2024, compared to $215.1 million in 2023, showing a marginal increase[29]. - Arkansas Gas reported revenue of $81.6 million for the three months ended December 31, 2024, up from $79.8 million in 2023, indicating a growth of 2.3%[31]. Operational Challenges and Outlook - The company anticipates challenges related to supply chain disruptions and inflation impacting operational costs[38]. - Future earnings guidance and long-term growth targets are subject to various risks and uncertainties, including regulatory approvals and market conditions[37]. Dividends and Shareholder Returns - Black Hills Corp. increased its quarterly dividend by 4%, marking 55 consecutive years of annual dividend increases[5]. - The company issued 3.3 million shares of new common stock for net proceeds of $182 million during 2024[9]. Utility Performance - Electric Utilities' operating income decreased by $15.8 million due to unplanned generation outages, lower off-system excess energy sales, and higher insurance expenses[22]. - Gas Utilities' operating income increased by $42.5 million driven by new rates, retail customer growth, and favorable mark-to-market on commodity contracts[22]. - Corporate and other operating loss decreased by $3.7 million due to lower unallocated operating expenses[22]. - The total availability of contracted generating facilities was 88.2% for the three months ended December 31, 2024, compared to 88.9% in 2023[27]. Customer Base and Service - The company serves approximately 1.35 million natural gas and electric utility customers across eight states[36]. - Wyoming Electric set a new all-time peak load of 318 megawatts in January 2025, surpassing the previous peak of 314 megawatts in January 2024[6]. Environmental Commitment - The company emphasizes its commitment to achieving greenhouse gas emissions intensity reduction goals[38]. Upcoming Events - Black Hills Corp. will host a conference call on February 6, 2025, to discuss its financial and operating performance[33].

Core Insights - Black Hills Corp. reported strong financial results for Q4 and the full year 2024, with operating income of $163.3 million for Q4 and $503.1 million for the full year, representing increases from $136.5 million and $472.7 million in 2023 respectively [1][10] - The company achieved a net income available for common stock of $98.1 million for Q4 and $273.1 million for the full year, compared to $79.6 million and $262.2 million in 2023, indicating solid growth [1][10] - Earnings per share (EPS) for 2024 were $3.91, benefiting from new rates, rider recovery, and customer growth, with a projected EPS range of $4.00 to $4.20 for 2025 [1][10][5] Financial Performance - Operating income for Q4 2024 was $163.3 million, up from $136.5 million in Q4 2023, while full-year operating income increased to $503.1 million from $472.7 million [1][10] - Net income available for common stock rose to $98.1 million in Q4 2024 from $79.6 million in Q4 2023, and for the full year, it increased to $273.1 million from $262.2 million [1][10] - The diluted EPS for 2024 was $3.91, reflecting a 4.3% growth from the midpoint of 2023 earnings guidance [5][12] Growth Initiatives - The company invested approximately $800 million in electric and gas infrastructure, including the Ready Wyoming transmission expansion project, the largest in its history [2] - Black Hills Corp. increased its five-year capital forecast by 10% to $4.7 billion through 2029, with a pipeline of data center demand exceeding one gigawatt expected within the next 10 years [3][5] - The company anticipates that approximately 500 megawatts of data center demand will be served by the end of 2029, significantly contributing to EPS growth [3] Regulatory and Rate Reviews - Black Hills Corp. reached constructive settlements for natural gas rate reviews in Arkansas and Iowa, which contributed to the increase in net income [2] - The company has ongoing rate review requests in multiple states, including Kansas Gas seeking $118 million for system investments and inflationary impacts [9] Dividend and Shareholder Returns - The company increased its quarterly dividend by 4%, marking 55 consecutive years of annual dividend increases [5][9] - The board approved a quarterly dividend of $0.676 per share, payable on March 1, 2025 [9] Operational Highlights - Wyoming Electric set a new all-time peak load of 318 megawatts, surpassing the previous peak of 314 megawatts [6] - The initial phase of the Ready Wyoming electric transmission expansion project was completed, adding approximately $40 million to the rate base [6] Credit Ratings - Black Hills Corp. maintained solid investment-grade credit ratings, with Fitch affirming a long-term issuer rating of BBB+ and Moody's affirming a Baa2 rating [11]

Core Insights - Black Hills Corp. reported strong financial results for Q4 and the full year 2024, with operating income of $163.3 million for Q4 and $503.1 million for the full year, representing increases from $136.5 million and $472.7 million in 2023 respectively [1][11][19] - The company achieved a net income available for common stock of $98.1 million for Q4 and $273.1 million for the full year, compared to $79.6 million and $262.2 million in 2023 [1][11][19] - Earnings per share (EPS) for 2024 were $3.91, benefiting from $0.82 per share from new rates, rider recovery, and customer growth [1][5] Financial Performance - Operating income increased by 19.6% in Q4 2024 compared to Q4 2023, and by 6.4% for the full year [1][19] - Net income for Q4 2024 was up 23.2% year-over-year, while full-year net income increased by 4.0% [1][19] - The company’s revenue for Q4 2024 was $597.1 million, slightly up from $591.7 million in Q4 2023, while full-year revenue decreased to $2,127.7 million from $2,331.3 million in 2023 [11][19] Growth Initiatives - Black Hills Corp. plans to increase its five-year capital forecast by 10% to $4.7 billion, with $1.0 billion allocated for 2025 [3][5] - The company has a pipeline of data center demand exceeding one gigawatt from existing customers over the next 10 years, with approximately 500 megawatts expected to be served by the end of 2029 [3][5] - The company initiated a 2025 earnings guidance range of $4.00 to $4.20 per share [10] Regulatory and Infrastructure Developments - The company reached constructive settlements for natural gas rate reviews in Arkansas and Iowa, contributing to its solid financial position [2][5] - Black Hills invested approximately $800 million in electric and gas infrastructure, including the first phase of the Ready Wyoming transmission expansion project, the largest in its history [2][5] - Colorado Electric received final approval for its Clean Energy Plan, which includes 350 megawatts of new renewable generation resources [9] Dividend and Shareholder Returns - The company increased its quarterly dividend by 4%, marking 55 consecutive years of annual dividend increases [5][9] - Black Hills issued 3.3 million shares of new common stock for net proceeds of $182 million during 2024 [9] Credit Ratings - Black Hills maintained solid investment-grade credit ratings, with Fitch affirming a long-term issuer rating of BBB+ and Moody's affirming a Baa2 rating [12]

Core Viewpoint - Black Hills Corp. has filed a rate review application with the Kansas Corporation Commission to recover capital infrastructure and operational costs for its natural gas utility serving 120,000 customers in Kansas [1] Investment and Infrastructure - Since the last general rate filing in 2021, Black Hills Energy has invested approximately $118 million in safety, reliability, and system integrity for over 4,765 miles of natural gas pipeline infrastructure in Kansas [2] - These investments are essential for system growth, ensuring safe and reliable natural gas delivery, and meeting compliance with state and federal regulations [2] Rate Review Proposal - The company is requesting an estimated $17.2 million per year in additional revenue, along with approximately $4.4 million of rider revenue rolled into base rates, resulting in a total annual base rate revenue increase of $21.6 million [3] - The proposal is based on a capital structure of 50.44% equity and 49.56% debt, with a return on equity of 10.50% [3] - New rates are being sought for implementation in the second half of 2025 [3] Gas System Reliability Surcharge - The rate application allows the continued use of the Gas System Reliability Surcharge (GSRS) to fund accelerated, safety-focused pipeline replacement across Kansas [4] - This application fulfills the requirement to file a general rate case in Kansas by the end of 2026, ensuring eligibility for future GSRS filings [4] Company Overview - Black Hills Corp. is a customer-focused, growth-oriented utility company serving 1.34 million natural gas and electric utility customers across eight states [5]

RAPID CITY, S.D., Jan. 24, 2025 (GLOBE NEWSWIRE) -- Black Hills Corp. (NYSE: BKH) today announced that its board of directors approved a quarterly dividend of $0.676 per share, an increase of $0.026 per share over last quarter’s dividend. Common shareholders of record at the close of business on Feb. 18, 2025, will receive $0.676 per share, payable March 1, 2025. “This dividend increase reflects the confidence we have in our team, strategy and long-term growth,” said Linn Evans, president and CEO of Black H ...

Black Hills Corp. (BKH) announced that its Wyoming electric utility has successfully placed in service the initial 12-mile segment and supporting substations of its Ready Wyoming transmission expansion project near Cheyenne, Wyoming.The company received approval for the project from the Wyoming Public Service Commission in 2022 and commenced construction in 2023.The largest electric transmission project in Black Hills' history, Ready Wyoming demonstrates the company’s dedication to meeting the expanding ene ...

Even after the broad market pullback in recent days, the S&P 500 is still only offering investors a miserly 1.2% yield or so. You can do way better than that with these three stocks, all of which offer yields of more than 4%. Here's why Chevron (CVX 0.91%), Black Hills (BKH 0.80%), and Enterprise Products Partners (EPD -0.33%) are no-brainer high yielders right now whether you have $200 or $200,000 to invest.1. Chevron has it all, at least for an energy stockChevron's dividend yield is roughly 4.2% today. T ...

Energizing the initial segment of the project marks a significant milestone in connecting the company's Wyoming and South Dakota electric systems.The strategic project is expected to stabilize long-term transmission costs for customers, expand market access to energy, and support long-term growth in Wyoming. RAPID CITY, S.D., Jan. 15, 2025 (GLOBE NEWSWIRE) -- Black Hills Corp. (NYSE:BKH) today announced that its Wyoming electric utility has successfully placed in service the initial 12-mile segment and supp ...

Black Hills Corporation (NYSE: BKH ) is a utilities company that generates its earnings from their electric utilities and natural gas segments. BKH has a public inception dating all the way back to 1995, meaning that we have overFinancial analyst by day and a seasoned investor by passion, I've been involved in the world of investing for over 10 years and honed my skills in analyzing lucrative opportunities within the market.I specialize in uncovering strategies to utilize various investment vehicles - seeki ...

RAPID CITY, S.D., Jan. 09, 2025 (GLOBE NEWSWIRE) -- Black Hills Corp. (NYSE: BKH) will announce its 2024 fourth-quarter and full-year earnings after the market closes Wednesday, Feb. 5, 2025, and will host a live conference call and webcast at 11 a.m. EST on Thursday, Feb. 6, 2025, to discuss the company’s financial results. Access the webcast at www.blackhillscorp.com under the “Investor Relations” heading. Select “News and Events,” and “Events & Presentations,” and click on “Q4 2024 Earnings Conference Ca ...