NYSE$BKH
Black Hills Corporation · Q2 2022 earnings
Q2 2022 earnings · · Investor relations
Briefing
Reported financial results for the second quarter of 2022.
Black Hills Corp. reported second quarter results driven by new rates, rider recovery and a net one-time, $0.12 per share benefit related primarily to a true-up for Winter Storm Uri carrying costs, which were tempered by higher operating expenses.
- Filed Colorado Clean Energy Plan to reduce greenhouse gas emissions 90% by 2030 off a 2005 baseline, proposing the addition of up to 450 megawatts of renewable energy resources and battery storage.
- Proposed the addition of 120 megawatts of renewable resources and battery storage in South Dakota.
- Wyoming's 260-mile electric transmission project is advancing through the regulatory approval process.
- Executed first customer agreement for service under Wyoming blockchain tariff, representing the largest blockchain load in Wyoming.
Headline financials
Revenue & EPS history
Black Hills · Revenue · Quarterly
$474M
Revenue by segment
Black Hills · $479M total across 2 segments · Q2 2022
- Gas Utilities$274M+147279.7%57.3%
- Electric Utilities$204M+106906.7%42.7%
Forward guidance
Black Hills affirms its guidance for 2022 earnings per share available for common stock to be in the range of $3.95 to $4.15.
Tailwinds
- Normal weather conditions within our utility service territories including temperatures, precipitation levels and wind conditions.
- Normal operations and weather conditions for planned construction, maintenance and/or capital investment projects.
- Constructive and timely outcomes of utility regulatory dockets.
- No significant unplanned outages at any of our generating facilities.
- Adjusted contract price for Wygen I power purchase agreement beginning Jan. 1, 2022.
Headwinds
- Equity issuance of $100 million to $120 million through the at-the-market equity offering program.
- The accuracy of our assumptions on which our earnings guidance is based.
- Our ability to obtain adequate cost recovery for our utility operations through regulatory proceedings and favorable rulings on periodic applications to recover costs for capital additions, plant retirements and decommissioning, fuel, transmission, purchased power, and other operating costs and the timing in which new rates would go into effect.
- Our ability to complete our capital program in a cost-effective and timely manner.
- Our ability to execute on our strategy.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2022
+0.1%
Avg return
Earnings day
+0.1%
Avg return
5 days after
+0.6%
Avg return
30 days after
59%
40 / 68 earnings
Positive
+6.7%
Q3 2020
Best reaction
-9.8%
Q4 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.9% | +0.4% | -1.7% | |
| Q4 2025 | +0.9% | -1.8% | -0.3% | |
| Q3 2025 | +4.6% | +11.2% | +8.0% | |
| Q1 2025 | -4.8% | -6.5% | -7.4% | |
| Q4 2024 | -0.3% | -0.0% | +0.0% | |
| Q3 2024 | +1.3% | +6.1% | +5.3% | |
| Q2 2024 | +0.6% | -4.3% | +0.3% | |
| Q1 2024 | +1.5% | +0.4% | -5.5% | |
| Q4 2023 | +2.7% | +5.8% | +7.9% | |
| Q3 2023 | +3.2% | +6.5% | +10.6% | |
| Q2 2023 | -2.3% | -2.6% | -7.5% | |
| Q1 2023 | +2.6% | +3.0% | -2.9% | |
| Q4 2022 | -9.8% | -10.2% | -14.6% | |
| Q3 2022 | -3.3% | -4.1% | +8.2% | |
| Q2 2022 | -0.9% | -1.4% | +0.1% | |
| Q1 2022 | +2.6% | +4.3% | +2.9% | |
| Q4 2021 | +0.7% | -0.1% | +7.1% | |
| Q3 2021 | +0.1% | -2.1% | -3.2% | |
| Q2 2021 | +2.8% | +3.3% | +6.0% | |
| Q1 2021 | -2.3% | -0.6% | -1.6% | |
| Q4 2020 | +0.5% | -0.1% | +3.8% | |
| Q3 2020 | +6.7% | +3.5% | +7.3% | |
| Q2 2020 | -0.1% | +2.0% | -3.0% | |
| Q1 2020 | +0.5% | +1.7% | +3.1% | |
| Q4 2019 | -0.2% | +0.6% | -4.0% | |
| Q3 2019 | -6.7% | -5.5% | -3.5% | |
| Q2 2019 | -2.4% | -2.8% | -0.3% | |
| Q1 2019 | +3.4% | +3.6% | +5.7% | |
| Q4 2018 | +4.5% | +6.0% | +9.6% | |
| Q3 2018 | +3.0% | +4.7% | +12.4% | |
| Q2 2018 | +0.1% | +0.3% | -1.3% | |
| Q1 2018 | +2.6% | +1.4% | -0.8% | |
| Q4 2017 | -3.0% | -6.8% | -7.6% | |
| Q3 2017 | -5.0% | -8.7% | -9.6% | |
| Q2 2017 | -0.1% | +1.8% | +1.2% | |
| Q1 2017 | +1.4% | +3.0% | +5.9% | |
| Q4 2016 | -1.9% | -2.4% | +3.5% | |
| Q3 2016 | +0.1% | +1.1% | -3.4% | |
| Q2 2016 | -2.8% | -5.8% | -5.9% | |
| Q1 2016 | +1.9% | — | — | |
| Q4 2015 | +3.0% | — | — | |
| Q3 2015 | -1.3% | — | — | |
| Q2 2015 | -0.5% | — | — | |
| Q1 2015 | -0.5% | — | — | |
| Q4 2014 | +2.9% | — | — | |
| Q3 2014 | +1.0% | — | — | |
| Q2 2014 | -3.3% | — | — | |
| Q1 2014 | +0.1% | — | — | |
| Q4 2013 | +2.4% | — | — | |
| Q3 2013 | +2.9% | — | — | |
| Q2 2013 | -1.4% | — | — | |
| Q1 2013 | +5.3% | — | — | |
| Q4 2012 | +0.8% | — | — | |
| Q3 2012 | -3.8% | — | — | |
| Q2 2012 | -3.3% | — | — | |
| Q1 2012 | -1.2% | — | — | |
| Q4 2011 | -1.1% | — | — | |
| Q3 2011 | -0.3% | — | — | |
| Q2 2011 | -5.7% | — | — | |
| Q1 2010 | -6.6% | — | — | |
| Q1 2011 | +1.6% | — | — | |
| Q4 2008 | +2.5% | — | — | |
| Q4 2010 | +2.5% | — | — | |
| Q3 2010 | +1.2% | — | — | |
| Q3 2009 | +1.2% | — | — | |
| Q2 2009 | +1.2% | — | — | |
| Q2 2010 | +1.2% | — | — | |
| Q4 2009 | +1.2% | — | — |
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