Black Hills ( (BKH) ) has released its Q4 earnings. Here is a breakdown of the information Black Hills presented to its investors.
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Black Hills Corp., headquartered in Rapid City, South Dakota, is a customer-focused utility company providing natural gas and electric services to 1.35 million customers across eight states including Arkansas, Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota, and Wyoming.
Black Hills Corp. reported a solid financial performance for the fourth quarter and full year 2024, with an earnings per share (EPS) of $3.91, marking a 4.3% growth from the previous year. The company also announced a 4% increase in its quarterly dividend, highlighting its strong track record of 55 consecutive years of annual dividend increases.
Key financial highlights include a net income of $273.1 million for the year, supported by new rates and customer growth. Black Hills Corp. also initiated its 2025 earnings guidance with an EPS range between $4.00 and $4.20. The company is projecting a significant increase in data center load and has raised its five-year capital forecast by 10% to $4.7 billion.
In addition to financial growth, Black Hills Corp. achieved significant regulatory milestones and infrastructure investments, including the completion of the initial phase of the Ready Wyoming transmission project and the approval of a Clean Energy Plan in Colorado. The company continues to focus on regulatory and growth initiatives to strengthen its service and infrastructure.
Looking ahead, Black Hills Corp. remains confident in achieving a long-term EPS growth target of 4% to 6%, driven by strategic investments and organic growth opportunities. The company is poised to capitalize on the increasing demand for energy, particularly from data centers, while maintaining its commitment to providing reliable and cost-effective services.
