Why Black Hills Corporation Shares Plunged on Wednesday
Shares of South Dakota utility company Black Hills Corp. (NYSE: BKH) fell as much as 15% in trading on Wednesday after reporting fourth-quarter 2022 financial results. Electric utility margin rose from $195.4 million a year ago to $230.6 million, but fuel costs offset most of those gains. Gas utilities fared better with operating income increasing $10 million to $81.8 million in the quarter.