Black Hills (BKH) FY2023 results: revenue $2.3 billion, down 8.6% on the year
Black Hills Corp. (BKH) reported revenue of $2.3 billion for fiscal 2023, the year ended 31 December 2023, down 8.6% on the year before. Net income was $262 million, up 1.5%, and diluted earnings per share $3.91. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2024.
Revenue
$2.3 billion
-8.6% on the year
FY2016FY2023
Operating margin
20.3%
17.8% a year earlier
FY2016FY2023
Net income
$262 million
+1.5% on the year
FY2016FY2023
Diluted EPS
$3.91
-1.5% on the year
FY2016FY2023
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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
944
585
-64.6
+61.5%
Capital expenditure
556
604
677
-8.1%
Free cash flow
389
-19.6
-742
Free cash flow margin
16.7%
-0.8%
-38.1%
Cash from investing
-537
-604
-664
Cash from financing
-342
32.3
732
Depreciation and amortisation
257
251
236
+2.3%
Share-based compensation
7.0
8.6
9.7
-18.6%
Dividends paid
168
157
145
+7.3%
Dividend per share
$2.50
$2.41
$2.29
+3.7%
Diluted shares, weighted
67m
65m
63m
+3.2%
Shares outstanding at period end
68m
n/a
n/a
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
3,215
2,995
2,787
+7.4%
Non-controlling interest
90.5
95.0
100
-4.7%
Short-term borrowings
0.0
n/a
n/a
Debt
4,401
4,668
4,547
-5.7%
Other liabilities
1,913
1,860
1,698
+2.8%
Total liabilities and equity
9,620
9,618
9,132
+0.0%
Fixed assets
7,119
6,798
6,449
+4.7%
Goodwill
1,300
1,299
1,299
+0.0%
Intangible assets
8.4
9.6
10.8
-12.4%
Investments
n/a
n/a
15.5
Cash and equivalents
86.6
21.4
8.9
+304.1%
Receivables
350
508
322
-31.1%
Inventory
161
207
151
-22.4%
Other assets
595
774
875
-23.1%
Total assets
9,620
9,618
9,132
+0.0%
10-K for the year ended 31 December 2023, filed 14 February 2024: the filing.