Black Hills Corp (BKH) Q3 2024 Earnings Call Highlights: Navigating Challenges with Strategic ...

GuruFocus.com11-08

EPS Guidance: On track to deliver earnings guidance range of $3.80 to $4 per share. EPS Growth Target: Long-term target of 4% to 6% EPS growth. Capital Investment Plan: $800 million capital plan for ...

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$4.3 billion expected investment over five years.Net Debt to Capitalization: Achieved target of 55%.Third Quarter EPS: $0.35 per share compared to $0.67 per share in Q3 2023.New Margins: $0.16 per share from new rates and rider recovery.O&M Expenses: Increased by $0.23 per share due to higher insurance premiums, employee costs, and other factors.Interest Expense: Increased by $0.05 per share due to higher interest rates.Depreciation Expense: Increased by $0.05 per share due to new assets placed in service.Liquidity: $729 million of availability under revolving credit facility.Dividend Growth: Anticipate growing dividend at a rate comparable to earnings growth.Arkansas Rate Approval: $25.4 million of new annual revenue with a 9.85% return on equity.GuruFocus has detected 9 Warning Si","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"BKH":"黑山"},"translate_title":"Black Hills Corp(BKH)2024年第三季度收益看涨期权亮点：通过战略应对挑战……","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BKH":1},"content_text":"EPS Guidance: On track to deliver earnings guidance range of $3.80 to $4 per share.\nEPS Growth Target: Long-term target of 4% to 6% EPS growth.\nCapital Investment Plan: $800 million capital plan for the year; $4.3 billion expected investment over five years.\nNet Debt to Capitalization: Achieved target of 55%.\nThird Quarter EPS: $0.35 per share compared to $0.67 per share in Q3 2023.\nNew Margins: $0.16 per share from new rates and rider recovery.\nO&M Expenses: Increased by $0.23 per share due to higher insurance premiums, employee costs, and other factors.\nInterest Expense: Increased by $0.05 per share due to higher interest rates.\nDepreciation Expense: Increased by $0.05 per share due to new assets placed in service.\nLiquidity: $729 million of availability under revolving credit facility.\nDividend Growth: Anticipate growing dividend at a rate comparable to earnings growth.\nArkansas Rate Approval: $25.4 million of new annual revenue with a 9.85% return on equity.\nIowa Rate Settlement: $15 million of new annual revenue pending approval.\n\n\nWarning! GuruFocus has detected 9 Warning Signs with BKH.\n\nRelease Date: November 07, 2024\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.\n Positive Points \n\nBlack Hills Corp (NYSE:BKH) successfully maintained high reliability with 98% availability for natural gas units and 95% total availability across generation facilities.\nThe company is on track with its $800 million capital plan for the year, including the Ready Wyoming Electric transmission expansion project.\nBlack Hills Corp (NYSE:BKH) achieved key financial milestones, including reaching its debt to capitalization target to maintain a triple B plus credit rating.\nThe company announced plans to serve Meta's first data center in Cheyenne, Wyoming, starting in 2026, indicating growth in serving hyperscalers.\nBlack Hills Corp (NYSE:BKH) reaffirmed its earnings guidance range of $3.80 to $4 per share and is on track to achieve its long-term 4% to 6% EPS growth target.\n\n Negative Points \n\nThe company faced unplanned generation outages, impacting operational performance and financial results.\nHigher operating expenses, including increased insurance premiums and employee costs, offset new margins.\nMild weather conditions negatively affected earnings, contributing to a $0.14 unfavorable EPS year-to-date.\nInterest expenses increased due to higher interest rates, impacting overall financial performance.\nThe company experienced lower off-system sales, which, along with unplanned outages, affected financial outcomes.\n\n Q & A Highlights \nQ: Can you provide more details on the unplanned outages and their impact on O&M earnings? A: Marne Jones, Senior Vice President - Utilities, explained that the outages were due to component failures, with one outage rolling over into Q3. Kimberly Nooney, CFO, noted the financial impact was $0.03 for the quarter and $0.05 for the year, including both margin and O&M impacts.\nQ: Are you able to comment on where within the earnings guidance range you might be trending? A: Kimberly Nooney, CFO, stated that they do not comment on specific positioning within the range but reaffirmed their expectation to achieve the financial objectives laid out for the year.\nQ: What are your thoughts on the potential impact of the incoming administration on the crypto and blockchain industry? A: Linden Evans, CEO, mentioned that while federal policy is important, their focus remains on serving customer needs. He acknowledged that their strategy is well-positioned to benefit from potential growth in these industries.\nQ: Can you provide insights on the expected cadence of new large load customers? A: Linden Evans, CEO, explained that they have a good understanding of their anchor tenants' growth patterns, such as Meta, which will gradually come online by the end of 2026. He noted that the expansion is expected to continue over time.\nQ: Are there opportunities for similar tariff structures in other states outside Wyoming for data centers? A: Linden Evans, CEO, indicated that they are open to flexible approaches that benefit both customers and shareholders. They have multiple avenues to serve customers and will adapt as needed to protect shareholder interests.\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.This article first appeared on \nGuruFocus.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"2","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2481489221"}