$BKH
BLACK HILLS CORP /SD/

2024 Q3 Form 10-Q Financial Statement

#000095017024089042 Filed on August 01, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $401.6M $402.6M
YoY Change -1.36% -2.11%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $69.30M $66.60M
YoY Change 6.82% 2.91%
% of Gross Profit
Operating Expenses $325.8M $332.0M
YoY Change 5.32% -4.53%
Operating Profit $75.80M $70.60M
YoY Change -22.47% 11.15%
Interest Expense -$45.20M -$42.60M
YoY Change 10.24% 2.6%
% of Operating Profit -59.63% -60.34%
Other Income/Expense, Net -$46.50M -$42.20M
YoY Change 11.66% -2.0%
Pretax Income $29.30M $28.40M
YoY Change -47.8% 38.84%
Income Tax $2.900M $3.700M
% Of Pretax Income 9.9% 13.03%
Net Earnings $24.40M $22.80M
YoY Change -46.24% -1.1%
Net Earnings / Revenue 6.08% 5.66%
Basic Earnings Per Share $0.35 $0.33
Diluted Earnings Per Share $0.35 $0.33
COMMON SHARES
Basic Shares Outstanding 69.75M 68.93M
Diluted Shares Outstanding 70.60M 69.00M

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $12.50M $624.8M
YoY Change -97.9% 309.49%
Cash & Equivalents $12.50M $624.8M
Short-Term Investments
Other Short-Term Assets $43.10M $22.90M
YoY Change 29.66% -23.49%
Inventory $155.4M $134.8M
Prepaid Expenses
Receivables $205.4M $221.5M
Other Receivables $19.90M $19.80M
Total Short-Term Assets $599.5M $1.174B
YoY Change -51.66% 46.27%
LONG-TERM ASSETS
Property, Plant & Equipment $7.470B $7.356B
YoY Change 6.52% 6.3%
Goodwill $1.300B $1.300B
YoY Change 0.0% 0.0%
Intangibles $7.900M $8.100M
YoY Change -9.28% -10.02%
Long-Term Investments
YoY Change
Other Assets $66.10M $67.30M
YoY Change 11.98% 25.58%
Total Long-Term Assets $9.119B $9.012B
YoY Change 4.91% 4.71%
TOTAL ASSETS
Total Short-Term Assets $599.5M $1.174B
Total Long-Term Assets $9.119B $9.012B
Total Assets $9.719B $10.19B
YoY Change -2.16% 8.26%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $136.3M $155.2M
YoY Change 9.89% 16.43%
Accrued Expenses $291.7M $259.6M
YoY Change 13.3% 19.49%
Deferred Revenue
YoY Change
Short-Term Debt $17.50M $0.00
YoY Change
Long-Term Debt Due $0.00 $600.0M
YoY Change -100.0% 14.29%
Total Short-Term Liabilities $536.2M $1.107B
YoY Change -66.54% 13.19%
LONG-TERM LIABILITIES
Long-Term Debt $4.249B $4.247B
YoY Change 11.82% 7.37%
Other Long-Term Liabilities $204.5M $201.0M
YoY Change 34.39% 29.06%
Total Long-Term Liabilities $4.453B $4.448B
YoY Change 12.69% 8.19%
TOTAL LIABILITIES
Total Short-Term Liabilities $536.2M $1.107B
Total Long-Term Liabilities $4.453B $4.448B
Total Liabilities $4.990B $5.555B
YoY Change -10.17% 9.15%
SHAREHOLDERS EQUITY
Retained Earnings $1.198B $1.220B
YoY Change 6.81% 9.07%
Common Stock $71.70M $69.70M
YoY Change 5.37% 3.85%
Preferred Stock
YoY Change
Treasury Stock (at cost) $5.900M $4.900M
YoY Change 70.67% 54.72%
Treasury Stock Shares
Shareholders Equity $3.447B $3.357B
YoY Change
Total Liabilities & Shareholders Equity $9.719B $10.19B
YoY Change -2.16% 8.26%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income $24.40M $22.80M
YoY Change -46.24% -1.1%
Depreciation, Depletion And Amortization $69.30M $66.60M
YoY Change 6.82% 2.91%
Cash From Operating Activities $102.1M $230.6M
YoY Change -32.38% -16.55%
INVESTING ACTIVITIES
Capital Expenditures $188.1M $166.2M
YoY Change 17.49% 16.52%
Acquisitions
YoY Change
Other Investing Activities -$3.200M $2.400M
YoY Change -300.0% -294.65%
Cash From Investing Activities -$191.3M -$163.8M
YoY Change 20.77% 13.86%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -522.9M 435.2M
YoY Change -216.36% -2385.47%
NET CHANGE
Cash From Operating Activities 102.1M 230.6M
Cash From Investing Activities -191.3M -163.8M
Cash From Financing Activities -522.9M 435.2M
Net Change In Cash -612.1M 502.0M
YoY Change -238.48% 342.61%
FREE CASH FLOW
Cash From Operating Activities $102.1M $230.6M
Capital Expenditures $188.1M $166.2M
Free Cash Flow -$86.00M $64.40M
YoY Change 845.05% -51.83%

Facts In Submission

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<p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:9pt;font-family:Arial;min-width:fit-content;">Use of Estimates and Basis of Presentation</span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-size:9pt;font-family:Arial;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Arial;min-width:fit-content;">The information furnished in the accompanying Consolidated Financial Statements reflects certain estimates required and all adjustments, including accruals, which are, in the opinion of management, necessary for a fair presentation of the June 30, 2024, December 31, 2023, and June 30, 2023</span><span style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Arial;min-width:fit-content;">, financial information. Certain lines of business in which we operate are highly seasonal, and our interim results of operations are not necessarily indicative of the results of operations to be expected for an entire year.</span></p>
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CY2024Q2 us-gaap Energy Related Inventory Other Fossil Fuel
EnergyRelatedInventoryOtherFossilFuel
7600000
CY2023Q4 us-gaap Energy Related Inventory Other Fossil Fuel
EnergyRelatedInventoryOtherFossilFuel
7700000
CY2024Q2 us-gaap Energy Related Inventory Natural Gas In Storage
EnergyRelatedInventoryNaturalGasInStorage
24000000
CY2023Q4 us-gaap Energy Related Inventory Natural Gas In Storage
EnergyRelatedInventoryNaturalGasInStorage
47300000
CY2024Q2 us-gaap Inventory Net
InventoryNet
134800000
CY2023Q4 us-gaap Inventory Net
InventoryNet
160900000
CY2024Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
68200000
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
74800000
CY2024Q2 us-gaap Accrual For Taxes Other Than Income Taxes Current
AccrualForTaxesOtherThanIncomeTaxesCurrent
43700000
CY2023Q4 us-gaap Accrual For Taxes Other Than Income Taxes Current
AccrualForTaxesOtherThanIncomeTaxesCurrent
52700000
CY2024Q2 bkh Customer Depositsand Prepayments
CustomerDepositsandPrepayments
54700000
CY2023Q4 bkh Customer Depositsand Prepayments
CustomerDepositsandPrepayments
76000000
CY2024Q2 us-gaap Interest Payable Current
InterestPayableCurrent
45500000
CY2023Q4 us-gaap Interest Payable Current
InterestPayableCurrent
46300000
CY2024Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
47500000
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
43500000
CY2024Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
259600000
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
293300000
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 bkh Rule10 B51 Arr Modified Flag
Rule10B51ArrModifiedFlag
false
CY2024Q2 bkh Non Rule10 B51 Arr Modified Flag
NonRule10B51ArrModifiedFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

Files In Submission

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0000950170-24-089042-index-headers.html Edgar Link pending
0000950170-24-089042-index.html Edgar Link pending
0000950170-24-089042.txt Edgar Link pending
0000950170-24-089042-xbrl.zip Edgar Link pending
bkh-20240630.htm Edgar Link pending
bkh-20240630.xsd Edgar Link pending
bkh-ex31_1.htm Edgar Link pending
bkh-ex31_2.htm Edgar Link pending
bkh-ex32_1.htm Edgar Link pending
bkh-ex32_2.htm Edgar Link pending
bkh-ex95.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
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report.css Edgar Link pending
Show.js Edgar Link pending
FilingSummary.xml Edgar Link unprocessable