This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Black Hills Corp. Reports 20 Percent Increase In 2012 Third Quarter Adjusted Earnings Per Share, Reaffirms 2012 Earnings Guidance And Initiates 2013 Earnings Guidance

Utilities Group

Income from continuing operations for the Utilities Group for the third quarter ended Sept. 30, 2012, was $14.6 million, compared to $16.4 million in 2011.

Electric Utilities

  Three Months Ended     Nine Months Ended  
Sept. 30, Variance Sept. 30, Variance
2012   2011   2012 vs. 2011   2012   2011   2012 vs. 2011
(in millions)
Gross margin $ 88.0     $ 80.6     $ 7.4   $ 261.7     $ 224.6     $ 37.1  
   
Operations and maintenance 34.1 34.8 (0.7 ) 110.2 106.1 4.1
Gain on sale of operating asset (0.8 ) 0.8 (0.8 ) 0.8
Depreciation and amortization 18.8     13.2     5.6   56.4     39.1     17.3  
Operating income 35.1 33.3 1.8 95.1 80.2 14.9
 
Interest expense, net (12.5 ) (9.7 ) (2.8 ) (38.1 ) (29.8 ) (8.3 )
Other (income) expense, net 0.2 0.2 1.2 0.6 0.6
Income tax benefit (expense) (8.2 )   (8.0 )   (0.2 ) (20.8 )   (16.4 )   (4.4 )
Income (loss) from continuing operations $ 14.6     $ 15.8     $ (1.2 ) $ 37.5     $ 34.7     $ 2.8  
 
  Three Months Ended Sept. 30,   Nine Months Ended Sept. 30,
2012   2011   2012   2011
Operating Statistics:    
Retail sales - MWh 1,230,266 1,232,679 3,475,472 3,456,841
Contracted wholesale sales - MWh 88,334 84,346 249,388 256,558
Off-system sales - MWh 288,528     395,769   1,171,198     1,253,385  
Total electric sales - MWh 1,607,128     1,712,794   4,896,058     4,966,784  
 
Total gas sales - Cheyenne Light - Dth 352,294 368,702 2,783,273 3,257,335
 
Regulated power plant availability:
Coal-fired plants (a) 95.4 % 95.1 % 89.1 % 91.6 %
Other plants 98.5 % 98.6 % 96.6 % 95.7 %
Total availability 97.0 % 96.4 % 93.0 % 93.1 %
 

(a) Nine months ended Sept. 30, 2012 reflects an unplanned outage due to a transformer failure and a planned outage at Neil Simpson II and a planned overhaul at Wygen II.

6 of 11

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,067.33 +43.27 0.24%
S&P 500 2,115.61 +7.32 0.35%
NASDAQ 5,024.1360 +18.7450 0.37%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs