Black Hills Q4 2024 Earnings Report
Key Takeaways
Black Hills Corp. announced strong earnings for Q4 2024, driven by regulatory and growth initiatives and expense management. The company delivered EPS of $1.37 for the quarter and $3.91 for the full year. They are projecting total data center load exceeding one gigawatt from existing customers and increased quarterly dividend by 4%.
Delivered 2024 EPS of $3.91, a 4.3% growth from the midpoint of 2023 earnings guidance.
Increased five-year capital forecast by 10% to $4.7 billion for 2025 through 2029, including $1.0 billion for 2025.
Projecting total data center load exceeding one gigawatt from existing customers.
Increased quarterly dividend by 4%, extending track record of annual dividend increases to 55 consecutive years.
Black Hills
Black Hills
Black Hills Revenue by Segment
Forward Guidance
Black Hills initiates its guidance for 2025 earnings per share available for common stock to be in the range of $4.00 to $4.20.
Positive Outlook
- Normal weather conditions within our utility service territories
- Constructive and timely outcomes of utility regulatory dockets
- Excludes mark-to-market adjustments
- No unplanned outages at our generation facilities
- Compounded annual growth rate of approximately 3.5% for operations and maintenance expense (excludes depreciation and amortization and taxes other than income taxes) off 2023 of $552 million
Challenges Ahead
- Equity issuance between $215 million and $235 million
- An effective tax rate of approximately 13% for the full year.