Black Hills (BKH) FY2017 results: revenue $1.7 billion, up 9.2% on the year
Black Hills Corp. (BKH) reported revenue of $1.7 billion for fiscal 2017, the year ended 31 December 2017, up 9.2% on the year before. Net income was $177 million, up 142.6%, and diluted earnings per share $3.21. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2019.
Revenue
$1.7 billion
+9.2% on the year
FY2010FY2017
Operating margin
24.8%
21.8% a year earlier
FY2010FY2017
Net income
$177 million
+142.6% on the year
FY2010FY2017
Diluted EPS
$3.21
+134.3% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
1,680
1,539
1,261
+9.2%
Operating income
417
336
300
+24.0%
Operating margin
24.8%
21.8%
23.8%
Interest expense
137
136
84.7
+0.7%
Pre-tax income
282
206
220
+36.8%
Income tax
73.4
59.1
78.7
+24.1%
Effective tax rate
26.0%
28.7%
35.7%
Net income
177
73.0
-32.1
+142.6%
Net margin
10.5%
4.7%
-2.5%
Diluted EPS
$3.21
$1.37
-$0.71
+134.3%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
428
320
424
+33.6%
Capital expenditure
326
455
266
-28.3%
Free cash flow
102
-134
158
Free cash flow margin
6.1%
-8.7%
12.5%
Cash from investing
-318
-1,589
-476
Cash from financing
-109
841
484
Depreciation and amortisation
188
176
127
+7.2%
Share-based compensation
7.6
10.9
4.1
-29.9%
Dividends paid
96.7
87.6
72.6
+10.5%
Dividend per share
$1.81
$1.68
$1.62
+7.7%
Diluted shares, weighted
55m
53m
45m
+3.5%
Shares outstanding at period end
n/a
n/a
51m
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
1,709
1,615
1,466
+5.8%
Non-controlling interest
111
115
n/a
-3.7%
Debt
3,326
3,314
1,930
+0.4%
Other liabilities
1,512
1,498
1,230
+0.9%
Total liabilities and equity
6,659
6,542
4,627
+1.8%
Fixed assets
4,541
4,386
3,259
+3.5%
Goodwill
1,299
1,299
360
0.0%
Intangible assets
7.6
8.4
3.4
-9.9%
Investments
13.1
12.6
12.0
+4.2%
Cash and equivalents
15.4
13.5
441
+14.1%
Receivables
248
259
147
-4.2%
Inventory
113
104
86.9
+9.3%
Other assets
420
459
317
-8.4%
Total assets
6,659
6,542
4,627
+1.8%
10-K for the year ended 31 December 2017, filed 19 February 2019: the filing.