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Black Hills (BKH) Q4 Earnings Beat Estimates, Revenues Miss

Zacks Equity Research

Black Hills Corporation BKH posted fourth-quarter 2019 operating earnings of $1.13 per share, which beat the Zacks Consensus Estimate of $1.09 by 3.67%. The bottom line improved 7.6% from $1.05 in the year-ago quarter.

For 2019, the company reported earnings of $3.53 compared with $3.54 in 2018.

Total Revenues

Black Hills’ fourth-quarter revenues of $478 million missed the Zacks Consensus Estimate of $516 million by 7.35%. Revenues fell 4.6% from the prior-year quarter’s tally of $501.2 million.

Black Hills’ total operating revenues for 2019 totaled $1,734.9 million, down 1.1% from $1,754.3 million in 2018.

Black Hills Corporation Price, Consensus and EPS Surprise

 

Black Hills Corporation Price, Consensus and EPS Surprise

Black Hills Corporation price-consensus-eps-surprise-chart | Black Hills Corporation Quote

 

Quarterly Highlights

In 2019, the company invested $850 million.

Depreciation and amortization increased primarily due to higher asset base driven by prior and current-year capital expenditures.

Operating income in the reported quarter increased 6.4% from the prior-year quarter’s tally to $121.4 million.

Total interest expenses amounted to $35.2 million compared with $35.1 million in the year-ago quarter.

On Dec 11, Wyoming Gas received approval of consolidated rate review settlement agreement.

On Nov 26, the $71-million 60-megawatt wind generation project placed in service.

Looking Ahead

Black Hills reaffirmed 2020 earnings per share guidance in the range of $3.55-$3.75 whose mid-point of $ 3.65 is lower than the Zacks Consensus Estimate of $3.71 for 2020 earnings.

The company expects to invest $669 million in 2020.

Zacks Rank

Black Hills carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Other Utility Releases

Xcel Energy XEL posted fourth-quarter 2019 operating earnings of 56 cents per share, which beat the Zacks Consensus Estimate of 53 cents by 5.6%.

NextEra Energy NEE reported fourth-quarter 2019 adjusted earnings of $1.44 per share, which lagged the Zacks Consensus Estimate of $1.54 by 6.5%.

CMS Energy Corp. CMS reported fourth-quarter 2019 adjusted earnings of 68 cents, which missed the Zacks Consensus Estimate of 69 cents.

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