Black Hills Corporation (NYSE: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.
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 (NASDAQ: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 (NYSE: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. (NYSE:CMS) reported fourth-quarter 2019 adjusted earnings of 68 cents, which missed the Zacks Consensus Estimate of 69 cents.
The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>
CMS Energy Corporation (CMS): Free Stock Analysis Report
Xcel Energy Inc. (XEL): Free Stock Analysis Report
NextEra Energy, Inc. (NEE): Free Stock Analysis Report
Black Hills Corporation (BKH): Free Stock Analysis Report
Original post