Black Hills (BKH) FY2022 results: revenue $2.6 billion, up 30.9% on the year
Black Hills Corp. (BKH) reported revenue of $2.6 billion for fiscal 2022, the year ended 31 December 2022, up 30.9% on the year before. Net income was $258 million, up 9.1%, and diluted earnings per share $3.97. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2023.
Revenue
$2.6 billion
+30.9% on the year
FY2015FY2022
Operating margin
17.8%
21.0% a year earlier
FY2015FY2022
Net income
$258 million
+9.1% on the year
FY2015FY2022
Diluted EPS
$3.97
+6.1% on the year
FY2015FY2022
this yearthe year beforeHover a bar for its figure.
$ 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
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
585
-64.6
542
Capital expenditure
604
677
767
-10.8%
Free cash flow
-19.6
-742
-226
Free cash flow margin
-0.8%
-38.1%
-13.3%
Cash from investing
-604
-664
-762
Cash from financing
32.3
732
217
-95.6%
Depreciation and amortisation
251
236
224
+6.3%
Share-based compensation
8.6
9.7
5.4
-11.3%
Dividends paid
157
145
135
+8.1%
Dividend per share
$2.41
$2.29
$2.17
+5.2%
Diluted shares, weighted
65m
63m
62m
+2.7%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
2,995
2,787
2,561
+7.5%
Non-controlling interest
95.0
100
101
-5.0%
Debt
4,668
4,547
3,771
+2.7%
Other liabilities
1,860
1,698
1,656
+9.6%
Total liabilities and equity
9,618
9,132
8,089
+5.3%
Fixed assets
6,798
6,449
6,020
+5.4%
Goodwill
1,299
1,299
1,299
0.0%
Intangible assets
9.6
10.8
11.9
-11.2%
Investments
n/a
15.5
15.8
Cash and equivalents
21.4
8.9
6.4
+140.2%
Receivables
508
322
266
+58.0%
Inventory
207
151
117
+37.4%
Other assets
774
875
352
-11.6%
Total assets
9,618
9,132
8,089
+5.3%
10-K for the year ended 31 December 2022, filed 14 February 2023: the filing.