Black Hills reports Q4 EPS $1.17, consensus $1.08

Reports Q4 revenue $215.9M vs.230.6M last year.”Our team continued to achieve positive results through execution of our regulatory strategy. During the year, we implemented new rates at Wyoming Electric and Rocky Mountain Natural Gas and reached constructive settlements for rate reviews for our gas utilities in Colorado and Wyoming. Our Arkansas rate review, filed in late 2023, is progressing through the regulatory process as anticipated, and we expect to file additional rate reviews for Iowa Gas and Colorado Electric in 2024. “I’m excited about the progress our team continues to make on our strategic growth initiatives. In Wyoming, our Ready Wyoming 260-mile electric transmission project is underway, and our team continues to evaluate other electric transmission and generation needs to support our growing footprint, including data center and blockchain growth. In South Dakota, project details are being finalized to add 100 megawatts of utility-owned renewable wind generation by mid-2026. In Colorado, we continue to evaluate a robust bid response to add 400 megawatts of renewable resources by 2029 and anticipate filing a plan to Colorado regulators by mid-year. “We are initiating our 2024 earnings guidance range at $3.80 to $4.00 per share, reflecting a 4% increase off our 2023 guidance of $3.65 to $3.85. We are increasing our five-year capital plan by $800 million to $4.3 billion for 2024 through 2028. With our track record of success in our regulatory strategy and our portfolio of growth initiatives, we remain confident in achieving our 4% to 6% long-term earnings per share growth target,” concluded Evans.