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Jun 30, 2022
Black Hills Q2 2022 Earnings Report
Reported financial results for the second quarter of 2022.
Key Takeaways
Black Hills Corp. reported second quarter results driven by new rates, rider recovery and a net one-time, $0.12 per share benefit related primarily to a true-up for Winter Storm Uri carrying costs, which were tempered by higher operating expenses.
Filed Colorado Clean Energy Plan to reduce greenhouse gas emissions 90% by 2030 off a 2005 baseline, proposing the addition of up to 450 megawatts of renewable energy resources and battery storage.
Proposed the addition of 120 megawatts of renewable resources and battery storage in South Dakota.
Wyoming's 260-mile electric transmission project is advancing through the regulatory approval process.
Executed first customer agreement for service under Wyoming blockchain tariff, representing the largest blockchain load in Wyoming.
Black Hills
Black Hills
Black Hills Revenue by Segment
Revenue by Segment
Electric Utilities Revenue
CapyFin.comGas Utilities Revenue
CapyFin.com 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
- Equity issuance of $100 million to $120 million through the at-the-market equity offering program.
- The accuracy of our assumptions on which our earnings guidance is based.
- 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.
- Our ability to execute on our strategy.
Revenue & Expenses
Visualization of income flow from segment revenue to net income