Black Hills reports higher Q4'20, full-year results, raises 2021 guidance

Black Hills Corp. on Feb. 9 reported non-GAAP and GAAP net income of $77.2 million, or $1.23 per share, for the fourth quarter of 2020, compared to $69.2 million, or $1.13 per share, in the same quarter of 2019.

The S&P Capital IQ consensus normalized EPS estimate for Black Hills in the fourth quarter was $1.15.

Black Hills reported fourth-quarter 2020 adjusted operating income of $126.0 million, compared with $121.4 million in the prior-year period.

On a full-year basis, the company's non-GAAP adjusted net income was $232.9 million, or $3.73 per share in 2020, compared to $214.5 million, or $3.53 per share in 2019.

GAAP net income in 2020 was $227.6 million, or $3.65 per share, compared to $199.3 million, or $3.28 per share.

Adjusted operating income during 2020 was $428.3 million, an increase from $406.0 million in 2019.

The company increased its 2021 EPS guidance to a range of $3.80 to $4.00, from $3.75 to $3.95. Black Hills initiated 2022 EPS guidance to a range of $3.95 to $4.15.