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 ...

Utilities are generally considered safe income investment vehicles. Back in the day, they used to be called widow-and-orphan stocks on Wall Street. That said, there are very different ways you can invest for dividends in the utility sector and some of these stocks now have broader appeal than just the widows and orphans.Three of the best utility stock options today are Black Hills (BKH 0.55%), NextEra Energy (NEE -1.06%), and Dominion Energy (D 0.68%), but each one is attractive for a very (very!) different ...

RAPID CITY, S.D., Dec. 02, 2024 (GLOBE NEWSWIRE) -- Black Hills Corp. (NYSE: BKH) today announced that its Iowa natural gas utility, Black Hills/Iowa Gas Utility Company, LLC, doing business as Black Hills Energy, received approval from the Iowa Utilities Commission of a settlement agreement for new rates. The new rates are designed to recover approximately $100 million of pipeline system investments since the utility’s last general rate filing in 2021. “We are pleased to receive approval of a settlement th ...

High-yield energy stocks can provide diversification to your portfolio. But if you pick the right high-yielders, they can also offer stability -- you just have to avoid the segments of the energy sector known for massive, commodity-driven price swings. Both Enbridge (ENB -0.53%) and Black Hills (BKH 1.61%) allow you to focus on long-term dividend payers with high yields while avoiding direct exposure to oil and natural gas.Enbridge is happily stuck in the middleThe oil and gas industry is largely broken dow ...

As a dividend growth investor, one thing is for certain: The world is an uncertain place. Black swan events can and do happen. These are events that are unexpected and often haveSign Up For A FREE 2-Week Trial Join iREIT® on Alpha today... for more in-depth research on REITs, mREITs, Preferreds, BDCs, MLPs, ETFs, Builders, and Asset Managers. You'll get more articles throughout the week, and access to our Ratings Tracker with buy/sell recommendations on all the stocks we cover. Plus unlimited access to our ...

There are some utilities that Wall Street knows quite well because they are so large and influential, like NextEra Energy (NEE 1.42%) or Southern Company (SO 1.32%). Then there's a company like Black Hills (BKH 0.10%) that few will recognize. That's too bad because Black Hills still has a generous yield and a way more impressive dividend history than either NextEra or Southern.Here's why Black Hills stock might be the ultimate place to invest $1,000 (or more) right now, even after an impressive utility sect ...

Laura Starks is the founder and CEO of Starks Energy Economics, LLC (since 2007). She has a degree in chemical engineering and an MBA with a concentration in finance which she has used for many years to invest personally and to share her ideas about energy companies. Her coverage includes utilities, independent power producers, energy service companies and contractors, a few petrochemical companies, and all sectors of oil and natural gas: upstream, midstream, and downstreamAnalyst’s Disclosure: I/we have a ...

Financial Data and Key Metrics Changes - The company reported earnings per share (EPS) of $0.35 for Q3 2024, down from $0.67 in Q3 2023, primarily due to higher operating expenses and unplanned generation outages [21][22] - Year-to-date EPS grew 4% compared to the same period last year, excluding prior year one-time events [28] Business Line Data and Key Metrics Changes - New margins contributed $0.16 per share, with $0.10 from electric utilities and $0.05 from gas utilities, offset by unplanned generation outages and lower off-system sales [22][24] - Operating and maintenance (O&M) expenses increased by $0.23 per share, driven by higher insurance premiums and costs associated with unplanned outages [23] Market Data and Key Metrics Changes - The company is on track to deliver on its earnings guidance range of $3.80 to $4 per share for the year, despite challenges from mild weather and increased insurance expenses [14][20] - The company anticipates that earnings from data center customers will grow from 5% of total EPS in 2023 to over 10% by 2028 [18][63] Company Strategy and Development Direction - The company is focused on a customer-centric strategy, emphasizing reliability and safety in energy delivery, and is advancing regulatory and growth initiatives [7][12] - A capital investment plan of $4.3 billion over five years is in place, with $800 million planned for 2024, aimed at enhancing energy infrastructure and customer service [11][16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving long-term EPS growth targets of 4% to 6%, supported by strong growth opportunities and effective execution of initiatives [15][20] - The company is actively pursuing regulatory approvals for new rates and has successfully implemented new customer rates in Arkansas [13][34] Other Important Information - The company has maintained a strong financial position, achieving a net debt to capitalization target of 55% and a BBB+ credit rating [12][29] - The company has a 54-year track record of increasing dividends, which is a key component of its long-term value strategy for shareholders [31] Q&A Session Summary Question: Details on unplanned outages and O&M impact - Management explained that unplanned outages were due to component failures, with a financial impact of $0.03 and $0.05 for the quarter and year, respectively [44][46] Question: Guidance for the year - Management reiterated the earnings guidance range but did not specify where they might be trending within that range [47] Question: Impact of incoming administration on crypto and blockchain - Management stated that their strategy is customer-focused and agnostic to federal policy, but they see potential benefits from serving data centers [49][50] Question: Cadence of new loads from large customers - Management indicated that they have a good understanding of their anchor tenants' growth patterns and expect gradual increases in load from data centers [52][52] Question: O&M management and fourth-quarter expectations - Management highlighted their focus on managing O&M costs effectively to cover unexpected challenges and maintain guidance for earnings growth [56][58] Question: Future data center growth opportunities - Management confirmed that growth in data center contributions to EPS is primarily driven by existing anchor tenants, with additional opportunities being explored [63][64]

| --- | --- | --- | --- | |----------------------------------------|-------|-------|-------| | | | | | | | | | | | RESILIENT. | | | | | RELIABLE. READY. | | | | | 2024 Third Quarter Review Nov. 7, 2024 | | | | | | | | | Forward-looking Statements COMPANY INFORMATION This presentation includes "forward-looking statements" as defined by the Securities and Exchange Commission. We make these forwardlooking statements in reliance on the safe harbor protections provided under the Private Securities Litigation Ref ...

Financial Performance - Net income available for common stock was $24.4 million in Q3 2024, a decrease of $21.0 million from $45.4 million in Q3 2023 [92]. - Total revenue for Electric Utilities in Q3 2024 was $232.5 million, a decrease of 4.8% compared to $237.3 million in Q3 2023 [96]. - Total revenue for gas utilities was $173.6 million in Q3 2024, slightly down from $174.3 million in Q3 2023, a decrease of 0.7% [107]. - Net income for the nine months ended September 30, 2024, was $182.6 million, down from $192.7 million in 2023, reflecting a variance of $10.1 million [118]. - Operating income for the three months ended September 30, 2024, was a loss of $0.2 million, compared to a loss of $0.6 million in the same period of 2023, showing an improvement of $0.4 million [113]. Operating Income - Electric Utilities' operating income decreased by $17.9 million in Q3 2024 compared to Q3 2023, primarily due to higher operating expenses and unplanned generation outages [93]. - Gas Utilities' operating income increased by $16.9 million in the first nine months of 2024 compared to the same period in 2023, driven by new rates and rider recovery [93]. - Operating income for gas utilities was $10.9 million in Q3 2024, down from $15.4 million in Q3 2023, a decrease of 29.2% [107]. Revenue and Sales - Total revenue for the nine months ended September 30, 2024, was $659.8 million, an increase of 10.7% from $649.1 million in the same period of 2023 [96]. - Residential revenue increased to $66.1 million in Q3 2024, up from $63.1 million in Q3 2023, reflecting a growth of 4.7% [99]. - The company reported a total of 1,907.3 GWh sold in the nine months ended September 30, 2024, compared to 1,861.6 GWh in the same period of 2023 [100]. - Total generated electricity increased to 1,501.9 GWh in Q3 2024, up from 1,383.7 GWh in Q3 2023, representing a growth of 8.5% [103]. - Total purchased electricity decreased to 516.1 GWh in Q3 2024, down from 575.6 GWh in Q3 2023, a decline of 10.3% [103]. Expenses and Costs - Net interest expense increased by $4.2 million in Q3 2024 compared to Q3 2023, primarily due to higher interest rates [93]. - Operations and maintenance expenses increased by $11.2 million in Q3 2024, primarily due to unplanned generation outages and higher office-related expenses [97]. - The total cost of fuel and purchased power for Electric Utilities was $54.9 million in Q3 2024, down from $55.4 million in Q3 2023 [96]. - The total cost of natural gas sold decreased to $39.7 million in Q3 2024 from $46.9 million in Q3 2023, a reduction of 15.4% [107]. Environmental Initiatives - The company reported a 27% reduction in greenhouse gas emissions from its natural gas distribution system since 2022, aiming for net zero emissions by 2035 [90]. - The company aims to reduce electric emissions intensity by 40% by 2030 and 70% by 2040 compared to 2005 levels [90]. - The EPA's new rules on CO2 emissions from the power sector are being evaluated for their impact on the company's operations and costs [87]. Capital Expenditures and Investments - Capital expenditures for the nine months ended September 30, 2024, were $530.5 million, an increase of $108.7 million compared to $421.8 million in 2023 [119]. - The company plans to invest $100 million in incremental projects in 2025, with projections of $400 million in 2026 [124]. - Capital expenditures for the nine months ended September 30, 2024, totaled $566 million, with a forecast of $840 million for 2025 and $1,263 million for 2026 [124]. Cash Flow and Financing - Net cash provided by operating activities was $566.1 million for the nine months ended September 30, 2024, down $189.9 million from $756.0 million in 2023 [118]. - Net cash used in investing activities was $532.0 million for the nine months ended September 30, 2024, which is $128.2 million higher than the same period in 2023 [119]. - Net cash used in financing activities was $107.5 million for the nine months ended September 30, 2024, an increase of $328.8 million compared to $221.3 million in 2023 [120]. Ratings and Outlook - As of September 30, 2024, S&P and Fitch rated the company BBB+ with a Stable outlook, while Moody's rated it Baa2 with a Stable outlook, and Fitch revised its outlook to Negative [122][123]. Dividends - Dividends paid on common stock amounted to $135.8 million for the nine months ended September 30, 2024, equating to $0.65 per share, with an annual dividend declared at $2.60 per share [126].