Q3 2024 Black Hills Corp Earnings Call Transcript
Key Points
- Black Hills Corp (BKH) successfully maintained high reliability with 98% availability for natural gas units and 95% total availability across generation facilities.
- The company is on track with its $800 million capital plan for the year, including the Ready Wyoming Electric transmission expansion project.
- Black Hills Corp (BKH) achieved key financial milestones, including reaching its debt to capitalization target to maintain a triple B plus credit rating.
- The company announced plans to serve Meta's first data center in Cheyenne, Wyoming, starting in 2026, indicating growth in serving hyperscalers.
- Black Hills Corp (BKH) reaffirmed its earnings guidance range of $3.80 to $4 per share and is on track to achieve its long-term 4% to 6% EPS growth target.
- The company faced unplanned generation outages, impacting operational performance and financial results.
- Higher operating expenses, including increased insurance premiums and employee costs, offset new margins.
- Mild weather conditions negatively affected earnings, contributing to a $0.14 unfavorable EPS year-to-date.
- Interest expenses increased due to higher interest rates, impacting overall financial performance.
- The company experienced lower off-system sales, which, along with unplanned outages, affected financial outcomes.
Good day. And thank you for standing by. Welcome to the Q3 2024 Black Hills Corporation earnings conference call. (Operator Instructions)
I would now like to hand the conference over to your speaker today, Sal Diaz, Director of Investor Relations.
Thank you. Good morning and welcome to Black Hills Corporation's third quarter, 2024 earnings conference call. You can find our earnings release and materials for our call this morning on our website at www.blackhillscorp.com. Under the Investor Relations heading.
Before we begin today, we would like to note that Black Hills will be attending the Edison Electric Institute's Financial Conference on November 10, through November 12.
Our leadership team will be meeting with investors and analysts at the conference and the investor presentation will be posted on our website prior to the event, leading our quarterly earnings discussion today are Linn Evans, President
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
