Black Hills (BKH) FY2024 results: revenue $2.1 billion, down 8.7% on the year
Black Hills Corp. (BKH) reported revenue of $2.1 billion for fiscal 2024, the year ended 31 December 2024, down 8.7% on the year before. Net income was $273 million, up 4.2%, and diluted earnings per share $3.91. The figures are the company's own, from the 10-K it filed with the SEC on 12 February 2025.
Revenue
$2.1 billion
-8.7% on the year
FY2017FY2024
Operating margin
23.6%
20.3% a year earlier
FY2017FY2024
Net income
$273 million
+4.2% on the year
FY2017FY2024
Diluted EPS
$3.91
0.0% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
719
944
585
-23.8%
Capital expenditure
744
556
604
+33.9%
Free cash flow
-24.9
389
-19.6
Free cash flow margin
-1.2%
16.7%
-0.8%
Cash from investing
-746
-537
-604
Cash from financing
-42.9
-342
32.3
Depreciation and amortisation
270
257
251
+5.2%
Share-based compensation
10.6
7.0
8.6
+51.4%
Dividends paid
182
168
157
+8.4%
Dividend per share
$2.60
$2.50
$2.41
+4.0%
Diluted shares, weighted
70m
67m
65m
+4.2%
Shares outstanding at period end
72m
68m
n/a
+5.4%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
3,502
3,215
2,995
+8.9%
Non-controlling interest
83.7
90.5
95.0
-7.5%
Short-term borrowings
n/a
0.0
n/a
Debt
4,384
4,401
4,668
-0.4%
Other liabilities
2,053
1,913
1,860
+7.3%
Total liabilities and equity
10,023
9,620
9,618
+4.2%
Fixed assets
7,630
7,119
6,798
+7.2%
Goodwill
1,300
1,300
1,299
0.0%
Intangible assets
7.6
8.4
9.6
-9.5%
Cash and equivalents
16.1
86.6
21.4
-81.4%
Receivables
351
350
508
+0.3%
Inventory
154
161
207
-4.4%
Other assets
564
595
774
-5.2%
Total assets
10,023
9,620
9,618
+4.2%
10-K for the year ended 31 December 2024, filed 12 February 2025: the filing.