Last $54.05 USD
Change Today +0.52 / 0.97%
Volume 177.5K
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As of 8:04 PM 12/26/14 All times are local (Market data is delayed by at least 15 minutes).

black hills corp (BKH) Key Developments

Black Hills Corporation Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Provides Earnings Guidance for the Full Year of 2014 and 2015

Black Hills Corporation announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported revenue of $22.0 million compared to $22.0 million, operating income of $13.6 million compared to $14.3 million for the same period in the last year. Net income was $26.8 million against $23.1 million for the same period in the last year. Total diluted earnings per share were $0.60 against $0.52 for the same period in the last year. Adjusted earnings per share increased 28% compared to the same period in the prior year, highlighted by improved operating results at gas utility and coal mining segments and lower interest expense. Cooler weather benefited gas utilities and tempered results at electric utilities. The company reported same amounts of GAAP and non-GAAP results. For the nine months, the company reported revenue of $66.3 million compared to $62.5 million, operating income of $39.1 million compared to $36.3 million for the same period in the last year. Net income was $94.8 million against $96.8 million for the same period in the last year. Total diluted earnings per share were $2.13 against $2.18 for the same period in the last year. The company provided earnings guidance for the full year of 2014 and 2015. With strong financial performance this year, the company is increasing guidance for 2014 earnings, as adjusted, to $2.80 to $2.95 per share. Looking to next year, the company is initiating guidance for 2015 earnings, as adjusted, of $2.90 to $3.10 per share.

Black Hills Corp. Announces Management Changes

Black Hills Corp. announced that Anthony Cleberg, executive vice president and chief financial officer, will retire at the end of March 2015. Richard Kinzley, the company's vice president and controller will be appointed senior vice president and chief financial officer effective Jan. 1, 2015, reporting to David Emery, the company's chairman, president and chief executive officer. Cleberg will provide transition support until his retirement to ensure a smooth succession. Kinzley is a 15-year veteran of the company who has served in roles of increasing responsibility in the finance, accounting, and corporate strategy and development areas. Prior to assuming his current role in February 2013, Kinzley was vice president of strategic planning and corporate development. Kinzley brings 26 years of finance and accounting experience to his new role, including nine years in public accounting. The company announced the appointment of Brian Iverson as senior vice president, regulatory and government affairs and assistant general counsel effective Nov. 1, 2014, reporting to Emery. Iverson will retain his responsibilities as treasurer until a successor is named. Prior to joining Black Hills Corp., Iverson spent nearly 20 years as an auditor with Citigroup and as an attorney in private practice specializing in taxation, finance and banking.

Black Hills Corporation Declares Quarterly Dividend on Common Share , Payable on December 01, 2014

The board of directors of Black Hills declared a quarterly dividend of USD 0.39 per share on the company's common stock. Shareholders of record at the close of business as of November 17, 2014 will receive the common share dividend on December 01, 2014.

Black Hills Corporation to Report Q3, 2014 Results on Nov 03, 2014

Black Hills Corporation announced that they will report Q3, 2014 results After-Market on Nov 03, 2014

Black Hills Corporation, Q3 2014 Earnings Call, Nov 04, 2014

Black Hills Corporation, Q3 2014 Earnings Call, Nov 04, 2014

 

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Price/Earnings 21.2x
Price/Sales 1.8x
Price/Book 1.8x
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TEV/Sales 0.6x
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