Welcome to our dedicated page for Black Hills Corporation news (Ticker: $BKH), a resource for investors and traders seeking the latest updates and insights on Black Hills Corporation stock.
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Black Hills Corp. reported an 8% increase in earnings per share for the first quarter of 2024 compared to the same period in 2023. The financial results were driven by new rates, rider recovery, and lower operating expenses. The company reaffirmed its 2024 earnings guidance of $3.80 to $4.00 per share. They also highlighted progress in regulatory schedules, resource plans, and utility acquisitions. Electric and gas utility margins improved, and the company issued new common stock. Black Hills' board approved a quarterly dividend, and Fitch Ratings affirmed its issuer default rating. Overall, the company showed strong financial performance and operational efficiency.
AltC Acquisition Corp. stockholders approved a business combination with Oklo, a clean power technology company, resulting in over $306 million of gross proceeds for Oklo. The business combination is expected to close on May 9, 2024. Sam Altman will serve as the chairman of the newly appointed board of directors for Oklo.
Black Hills Corp.'s Iowa natural gas utility, Black Hills Energy, filed a rate review application with the Iowa Utilities Board for $20.7 million in new annual revenue. The request reflects critical system investments and inflationary impacts on costs to ensure safe and reliable natural gas delivery to over 163,000 customers across 133 communities. The company plans to implement interim rates within 10 days of the application and final rates by Q1 2025.
