Welcome to our dedicated page for Black Hills news (Ticker: BKH), a resource for investors and traders seeking the latest updates and insights on Black Hills stock.
Black Hills Corporation (NYSE: BKH) is a regulated electric and natural gas utility based in Rapid City, South Dakota, serving approximately 1.35 million utility customers across Arkansas, Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota and Wyoming. The news surrounding BKH often centers on its earnings releases, regulatory developments, capital projects and corporate transactions.
Investors following BKH news can expect regular updates on quarterly and full-year financial results, including discussions of segment performance in the Electric Utilities and Gas Utilities businesses, non-GAAP adjusted earnings and the impact of new customer rates and rider recovery. The company frequently announces dividend declarations, reflecting its long history of paying and increasing dividends on common stock.
Black Hills’ news flow also highlights major infrastructure and growth projects. Recent announcements have covered the completion and energization of the 260-mile Ready Wyoming electric transmission expansion project, construction progress on the 99-megawatt Lange II gas-fired generation facility in South Dakota, and steps to advance a Clean Energy Plan in Colorado involving battery storage and solar resources. Updates on gas utility rate reviews and settlements in states such as Nebraska, Kansas and Arkansas provide insight into how the company recovers investments in system safety, reliability and integrity.
A key theme in recent BKH coverage is the planned all-stock merger with NorthWestern Energy Group, Inc., detailed in multiple Form 8-K filings and joint press releases. News items describe the merger agreement, regulatory and shareholder approval processes and illustrative pro forma financial information. Additional corporate news includes equity issuances, public debt offerings and the establishment of an Emergency Public Safety Power Shutoff program to address wildfire risk. For investors and observers, the BKH news page offers a consolidated view of these financial, regulatory and operational developments over time.
Black Hills Corp. (NYSE: BKH) reported a Q2 2020 net income of $21 million, translating to earnings per share (EPS) of $0.33, up from $0.24 in Q2 2019. The company has a $669 million capital plan for 2020, remaining on schedule despite COVID-19 challenges. A $400 million debt issuance boosted total liquidity to $770 million. The firm noted improved performance across all business segments and reaffirmed its 2020 EPS guidance of $3.45 to $3.65, with COVID-19 impacts projected between $(0.05) and $(0.10) per share. The Corriedale Wind Project is on track for completion by year-end.
Black Hills Corp. (NYSE: BKH) declared a quarterly dividend of $0.535 per share, payable on Sept. 1, 2020, to shareholders of record by the close of business on Aug. 18, 2020. The company will release its Q2 2020 earnings on Aug. 3, 2020, after market close, followed by a conference call on Aug. 4, 2020, at 11 a.m. EDT. Black Hills Corp. serves approximately 1.28 million utility customers across eight states.
Black Hills Corp. (NYSE: BKH) will report its Q2 2020 earnings on August 3, 2020, after market close. A live conference call is scheduled for August 4, 2020, at 11 a.m. EDT to discuss the financial results. The company serves 1.28 million utility customers across eight states, focusing on growth and customer satisfaction. Investors can access the webcast through the company's website under the 'Investor Relations' section. Call-in options are also available for those wishing to ask questions or listen without internet access.
Black Hills Corp. (NYSE: BKH) announced a strategic management change to enhance leadership in Colorado's utility operations. Effective August 1, 2020, Vance Crocker will lead both electric and gas utilities in the state, alongside his role as vice president of Colorado Electric. Nick Wagner will join on July 27 as vice president of regulatory affairs and policy, focusing on regulatory matters affecting the company. This new structure aims to strengthen stakeholder relationships and support clean energy initiatives while ensuring reliable service to customers.
Black Hills Corp. (NYSE: BKH) announced a registered public debt offering of $400 million in 2.50% senior unsecured notes due June 15, 2030. The offering is set to close on June 17, 2020, pending customary conditions. The raised funds will be allocated for repaying short-term debt, working capital, and other corporate purposes. Following this transaction, the company will maintain approximately $800 million in liquidity. The offering details are available through the SEC's EDGAR system.
Black Hills Corp. (NYSE: BKH) announced a rate review application with the Nebraska Public Service Commission to consolidate rate schedules and recover $450 million in infrastructure investments for its 13,000-mile pipeline system. The review seeks $17 million in new revenue to support approximately 300,000 customers. The company aims to simplify operations across Colorado, Nebraska, and Wyoming. Additionally, a settlement for a power purchase agreement with Cheyenne Light will reduce pricing by 10%. Black Hills Corp. reaffirmed its guidance during upcoming investor meetings.
Black Hills Corp. (NYSE: BKH) announced an agreement-in-principle between its utility subsidiary Cheyenne Light and power generation subsidiary Black Hills Wyoming regarding a proposed 60-megawatt power purchase agreement. This agreement addresses a shortfall in generation capacity due to the expiration of the existing Wygen I power purchase agreement in 2022. The new contract aims to provide reliable and low-cost electric capacity to Cheyenne Light and its customers. Final approval from the Federal Energy Regulatory Commission (FERC) is pending.
Black Hills Corp. (NYSE: BKH) announced that its senior management will engage with investors during the Credit Suisse 2020 Utilities, Power & Clean Tech Virtual Conference on May 14 and the American Gas Association Financial Forum on May 18-19. The management will reaffirm its guidance issued on May 5 and discuss the company's response to the COVID-19 pandemic. All materials for these meetings will be accessible on the company's website under the ‘Investor Relations’ section.
Black Hills Corp. (NYSE: BKH) reported a net income of $93.2 million, or $1.51 per share, for Q1 2020, down from $103.8 million, or $1.73 per share, in Q1 2019. The pandemic had minimal financial impacts during the quarter but is expected to negatively affect earnings in subsequent quarters. A weather-related gross margin decrease of $12.2 million was noted. The company revised its 2020 earnings guidance to $3.45-$3.65 per share, incorporating potential COVID-19 impacts. Black Hills remains focused on strategic initiatives, including the $79 million Corriedale Wind Energy Project.
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