Black Hills Corp - Company Profile

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Black Hills Corp: Segment Analysis

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Business Description

Black Hills Corp (BHC) generates, transmits and the electricity and natural gas from coal, gas, diesel and wind sources for the residential, commercial, industrial and other end markets. It also includes non-regulated power generation and mining operations. The company operates through two reportable segments, Electric Utilities and Gas Utilities. In FY2024, its capital expenditure stood at US$797.6 million, which accounted for 37.5% of the company’s total revenue and grew 35.2% YoY.

Business Segments

Overview

Generates, transmits, distributes and sells electricity on wholesale basis and generates electricity from oil, wind, coal and gas sources. Serve residential, commercial, industrial, and municipal customers in South Dakota, Colorado, Wyoming, and Montana through power purchase agreements and supply of electricity through distribution systems. Operates non-regulated power generation and mining operations and provides non-regulated services to retail customers through the Service Guard Comfort Plan and Tech Services. In FY2024, the segment incurred a capital expenditure of US$381.9 million, which grew 81.3% YoY.

Performance

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Overview

Transports and distributes gas through its distribution network and sell gas commodities and pipeline capacity through contracts for marketing and other utility companies. Operates through its subsidiaries in Arkansas, Colorado, Kansas, Iowa, Nebraska, and Wyoming. In FY2024, the segment incurred a capital expenditure of US$402.7 million, which grew 8.3% YoY.

Performance

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