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Dec 31, 2021
Black Hills Q4 2021 Earnings Report
Black Hills Corp. reported financial results, impacted by record warm weather, but offset by regulatory progress and cost management.
Key Takeaways
Black Hills Corp. reported Q4 2021 earnings of $1.11 per share, impacted by record warm weather. The company reaffirmed its 2022 earnings guidance and extended its 5% to 7% earnings per share growth target through 2026.
Black Hills Corp. reaffirmed its earnings guidance for 2022.
The company is extending its 5% to 7% earnings per share growth target for 2023 through 2026.
The company plans to invest more than $3.2 billion over the next five years.
Constructive settlements for natural gas rate reviews in Colorado, Iowa and Kansas were approved.
Revenue by Segment
Forward Guidance
Black Hills reaffirmed 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
- The accuracy of our assumptions on which our earnings guidance and growth targets are 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
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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