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Black Hills Corp (NYSE: BKH) delivers essential energy services through regulated utilities and strategic wholesale operations across eight U.S. states. This page provides investors and stakeholders with direct access to official company announcements, including earnings reports, regulatory updates, and operational developments.
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Find comprehensive coverage of BKH's natural gas and electric service updates, financial performance disclosures, and leadership announcements. All content is sourced from verified corporate communications to maintain accuracy and compliance with financial reporting standards.
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On June 14, 2024, Black Hills Corp. (NYSE: BKH) announced that its Colorado electric utility, Black Hills Colorado Electric, (Black Hills Energy), filed a request with the Colorado Public Utilities Commission to update its electric rates, marking the first rate review in eight years. This request aims to address the rising costs of operations, maintenance, and upgrades of the electric system serving over 100,000 customers in Southern Colorado. Since 2016, Black Hills Energy has invested approximately $371 million in capital and plans an additional $98 million in 2024. The proposed rate review seeks an additional annual revenue of $36.7 million, with a capital structure comprising 52.75% equity and 47.25% long-term debt, and a return on equity of 10.5%. The new rates are expected to be effective in the first quarter of 2025.
On May 13, 2024, Black Hills Corp. (NYSE: BKH) announced the pricing of a $450 million debt offering in the form of 6.00% senior unsecured notes due on January 15, 2035. The offering is expected to close on May 16, 2024, pending customary conditions. Net proceeds will be used to repay $600 million of outstanding notes maturing on August 23, 2024, with any surplus funds allocated for general corporate purposes. The offering is conducted via a prospectus supplement filed with the SEC, and copies are available through EDGAR or from Wells Fargo Securities and BofA Securities. This announcement does not constitute an offer to sell these securities in any unauthorized jurisdiction.
Oklo Inc. starts trading on the New York Stock Exchange with the ticker symbol 'OKLO' after completing a merger with AltC Acquisition Corp. The company received $306 million in gross transaction proceeds to support its business plan of providing clean, reliable, affordable energy to various markets. Oklo's newly appointed board of directors comprises industry leaders with Sam Altman as chairman. The company aims to drive growth through strategic partnerships and its unique owner-operator model.
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.
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