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Dec 31, 2024
Black Hills Q4 2024 Earnings Report
Black Hills Corp. reported its Q4 2024 earnings, showing growth in operating income and net income available for common stock, alongside an increase in EPS.
Key Takeaways
Black Hills Corp. announced strong financial results for the fourth quarter of 2024, with operating income increasing to $163.3 million and net income available for common stock rising to $98.1 million. Diluted EPS for the quarter was $1.37. The company also increased its five-year capital forecast and initiated 2025 earnings guidance.
Operating income increased to $163.3 million in Q4 2024 from $136.5 million in Q4 2023.
Net income available for common stock rose to $98.1 million in Q4 2024 from $79.6 million in Q4 2023.
Diluted EPS for Q4 2024 was $1.37, up from $1.17 in Q4 2023.
The company increased its five-year capital forecast by 10% to $4.7 billion for 2025 through 2029 and initiated 2025 EPS guidance of $4.00 to $4.20 per share.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Black Hills initiates its 2025 earnings guidance for common stock to be in the range of $4.00 to $4.20 per share, based on several key assumptions.
Positive Outlook
- Normal weather conditions within utility service territories are expected.
- Constructive and timely outcomes of utility regulatory dockets are anticipated.
- No unplanned outages at generation facilities are assumed.
- Compounded annual growth rate of approximately 3.5% for operations and maintenance expense (excluding depreciation, amortization, and taxes other than income taxes) off 2023 of $552 million.
- Equity issuance between $215 million and $235 million.
Challenges Ahead
- The guidance excludes mark-to-market adjustments.
- An effective tax rate of approximately 13% for the full year is assumed.
- The guidance is subject to risks and uncertainties that could cause actual results to differ materially.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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