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Mar 31, 2022
Black Hills Q1 2022 Earnings Report
Reported strong first quarter financial and operational performance.
Key Takeaways
Black Hills Corp. announced strong first quarter 2022 financial results, with earnings per share increasing 18% compared to the first quarter of 2021. The company reaffirmed its 2022 EPS guidance of $3.95 to $4.15.
Earnings per share increased 18% in the first quarter of 2022 compared to the first quarter of 2021.
Earnings benefited from new rates and rider recovery, customer growth, increased off-system energy sales and mark-to-market benefits on energy contracts.
The company delivered financial results in line with expectations.
Black Hills is reaffirming its 2022 EPS guidance of $3.95 to $4.15.
Revenue by Segment
Forward Guidance
Black Hills affirms its guidance for 2022 earnings per share available for common stock to be in the range of $3.95 to $4.15.
Positive Outlook
- Normal weather conditions within our utility service territories including temperatures, precipitation levels and wind conditions
- Normal operations and weather conditions for planned construction, maintenance and/or capital investment projects
- Constructive and timely outcomes of utility regulatory dockets
- No significant unplanned outages at any of our generating facilities
- Adjusted contract price for Wygen I power purchase agreement beginning Jan. 1, 2022
Challenges Ahead
- Our ability to obtain adequate cost recovery for our utility operations through regulatory proceedings and favorable rulings on periodic applications to recover costs for capital additions, plant retirements and decommissioning, fuel, transmission, purchased power, and other operating costs and the timing in which new rates would go into effect
- Our ability to complete our capital program in a cost-effective and timely manner
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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