Black Hills Corp. (BKH) Tops Q1 EPS by 10c

Black Hills Corp. (NYSE: BKH) reported Q1 EPS of $1.63, $0.10 better than the analyst estimate of $1.53.

“We delivered excellent operational performance and solid financial results for the first quarter,” said David R. Emery, chairman and CEO of Black Hills Corp. “Earnings of $1.63 per share, as adjusted, increased 13 percent over the prior year driven by strong results at our natural gas utilities, which benefited from weather that was slightly colder compared to normal but much colder than the same period last year.

“Progress continued on a number of key regulatory activities for our utilities. A settlement agreement was approved for the Rocky Mountain Natural Gas rate review in Colorado and is awaiting a final commission decision. Rate reviews are also in process for our Arkansas and Northwest Wyoming gas utilities. In April, we started delivering the benefits of recently enacted federal corporate income tax reform to our Kansas gas utility customers. We continue to work with other state utility regulators to provide similar benefits to customers in those states.

“We are pleased with the Colorado Public Utilities Commission’s recent decision that approved our power generation segment’s 60-megawatt wind project bid as the least cost option to provide renewable energy to our Colorado Electric utility customers. We expect to place the $71 million Busch Ranch II wind project in service by the end of 2019.

GUIDANCE:

Black Hills Corp. sees FY2018 EPS of $3.30-$3.50.

For earnings history and earnings-related data on Black Hills Corp. (BKH) click here.

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