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BKH NYSE· Black Hills Corporation
Earnings report Q4 2023

Black Hills Corporation Reports Revenue of $2.33 Billion in Latest Quarter

Segments of revenue

In the latest quarter, Black Hills Corporation reported total revenue of $2.33 billion. This represents a decrease from the previous year's revenue of $2.55 billion.

Strengths

Despite the decrease in revenue, Black Hills Corporation demonstrated resilience in its financial performance. The company's operating income increased to $472.7 million, compared to $455.2 million in the previous year. This improvement can be attributed to effective cost management strategies and operational efficiencies. Additionally, the company's other income (expense) improved to a loss of $171.1 million, compared to a loss of $159.2 million in the previous year. This indicates a reduction in expenses and a more favorable financial position.

Challenges

Black Hills Corporation faced challenges in its revenue generation during the latest quarter. The decrease in revenue can be attributed to lower sales in fuel, purchased power, and natural gas, which amounted to $982.9 million, compared to $1.23 billion in the previous year. This decline may be a result of various factors, such as changes in market demand or pricing pressures.

Noteworthy

It is noteworthy that Black Hills Corporation's net income increased to $276 million in the latest quarter, compared to $270.8 million in the previous year. This indicates the company's ability to maintain profitability despite the challenges in revenue generation. Furthermore, the company's performance was in line with market expectations and demonstrated stability in its financial position.

Summary

Black Hills Corporation reported a decrease in revenue to $2.33 billion in the latest quarter. However, the company showcased strengths in its financial performance, including an increase in operating income and an improvement in other income (expense). The challenges faced by the company were primarily related to lower sales in fuel, purchased power, and natural gas. Overall, Black Hills Corporation demonstrated resilience and maintained profitability in the face of revenue challenges.

Source documents

Form 10-K  filed on Feb 14, 2024
96 pages scanned

Reference data

Company financials Q4 revenue 592M
Analyst estimates Q4 EPS beat by 6.85%
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