Black Hills (US:BKH)2025-05-07 22:37Financial Performance - Operating income for Q1 2025 was $205.0 million, up from $193.3 million in Q1 2024, reflecting a growth of approximately 6.5%[2] - Net income available for common stock increased to $134.3 million in Q1 2025 from $127.9 million in Q1 2024, representing a growth of about 3.4%[2] - Earnings per share (EPS) remained stable at $1.87 for both Q1 2025 and Q1 2024[2] - The company reaffirmed its 2025 EPS guidance range of $4.00 to $4.20, indicating a projected annual growth rate of 5%[3][7] - Total revenue for the three months ended March 31, 2025, was $236.7 million, an increase of 6.8% from $222.2 million in the same period of 2024[21] Revenue Growth - New electric rates in Colorado are expected to generate $17.5 million in annual revenue, effective from May 2025[8] - The company is pursuing $35 million in new annual revenues in Nebraska to enhance service reliability[7] - Retail revenue from residential customers increased to $66.4 million in Q1 2025, up 6.2% from $62.5 million in Q1 2024[21] - Gas utilities reported total revenue of $572.4 million for Q1 2025, a 12.5% increase from $508.7 million in Q1 2024[26] - Retail revenue from residential gas customers rose to $344.1 million in Q1 2025, up 15.5% from $297.8 million in Q1 2024[26] Operational Highlights - Wyoming Electric experienced a nearly 10% increase in peak load, reaching an all-time high, driven by data center and blockchain growth[7] - The total quantities sold for electric utilities reached 1,889.4 GWh in Q1 2025, representing a 6.1% increase from 1,780.0 GWh in Q1 2024[21] - The total quantities sold and transported for gas utilities increased to 96.1 Dth million in Q1 2025, compared to 88.4 Dth million in Q1 2024[26] - The availability of coal generating facilities decreased to 86.3% in Q1 2025 from 95.6% in Q1 2024[24] - The company reported a 7% increase in heating degree days for Colorado Electric in Q1 2025 compared to the previous year[23] Capital Projects and Investments - The Ready Wyoming transmission expansion project, a 260-mile initiative, is on track for completion by year-end 2025, with a total investment of $350 million[11] - Black Hills plans to serve 500 megawatts of data center demand by the end of its five-year plan, contributing over 10% to earnings by 2028[5] Shareholder Returns - The board approved a quarterly dividend of $0.676 per share, marking 55 consecutive years of increases[11] Regulatory and Investor Engagement - The company emphasizes the importance of regulatory proceedings for cost recovery and the execution of its capital program[34] - The company plans to participate in the 2025 AGA Financial Forum from May 18 to May 20, 2025, to engage with investors and analysts[33]