This includes, without limitations, our 2020 earnings guidance and the impacts of the COVID-19 pandemic on our business. ET. %PDF-1.6 %���� If you see a tree that could be an issue, please contact us. Results benefited from new rates from investments, customer growth and tax credits from new wind generation. (a)   Heating degree days at the Gas Utilities for the three months ended March 31, 2020, were 6% lower than normal compared to 11% higher than normal in the same period in the prior year.Revenue increased in the current year due to an increase in MWh sold due to new wind assets and additional Black Hills Colorado IPP fired-engine hours. Title: Flyer_8.5x11_trifold_ext.eps Created Date: … The company’s management uses these non-GAAP financial measures as an indicator for planning and forecasting future periods. )�`��_y�951ˆ� Fortunately, much of our service territory is not experiencing an overwhelming number of positive coronavirus cases, and the impacts to our local economies are not as severe as the more urban areas of the country. (a)   Heating degree days at the Electric Utilities for the three months ended March 31, 2020 were 4% lower than normal compared to 7% higher than normal in the same period in the prior year. (a)    Adjusted operating income removes the impacts of finance lease accounting relating to the 20-year PPA between Black Hills Colorado IPP and Colorado Electric for the Electric Utilities and Power Generation segments and Corporate and Other. We are also providing critical assistance to customers with financial difficulties and donating to local relief efforts. The presentation of gross margin is intended to supplement investors’ understanding of operating performance. Gross margin for our Electric Utilities is calculated as operating revenue less cost of fuel and purchased power. GAAP results were impacted by a non-cash, pre-tax $6.9 million impairment of an investment in a privately held oil and gas company related to the divestiture of the company's Oil and Gas segment in 2018.“The ongoing COVID-19 pandemic has posed significant hardship and challenges across the country,” said Linn Evans, president and CEO of Black Hills Corp. “We extend our sympathies to the individuals and communities impacted by the virus and thank the healthcare workers and first responders for their dedication during this crisis. We assume no obligation to update publicly any such forward-looking statements, whether as a result of new information, future events or otherwise.New 2020 Economic Competitiveness Rankings Reveal the Reforms that Win for TaxpayersLumentum (LITE) Stock Up on Q4 Earnings & Revenues BeatNIO Q2 Loss Narrower Than Expected, Q3 Guidance PromisingMagna (MGA) Surpasses Q2 Earnings and Revenue EstimatesGundlach, who called Trump's 2016 election, predicts he'll win againJumia reports Q2 earnings, operating loss down 44% from last yearCollege football conferences begin to cancel fall games'Loyal' energy customers to overpay by £3bn this yearHere's where VP pick Kamala Harris stands on Big Tech, taxes, marijuana AM AM PM AM PM AM PM . Contents: Prepared Remarks; Questions and Answers; Call Participants; Prepared Remarks: Operator. Net income available for common stock, as adjusted, is defined as Net income, adjusted for expenses and gains that the company believes do not reflect the company’s core operating performance. Our Renewable Advantage program also made progress, with bids being evaluated for up to 200 megawatts of renewable energy to be in service by 2023 for our Colorado Electric customers.“Looking forward, we are ready to deliver the critical energy our customers and communities need in the face of this health and economic crisis. Adjustments shown reflect the actual adjustments made for the first three months of the year. International callers can call 724-498-4407. We make these forward-looking statements in reliance on the safe harbor protections provided under the Private Securities Litigation Reform Act of 1995. Electric Utility Provider. Demand for electricity and natural gas is sensitive to seasonal cooling, heating and industrial load requirements. q���jX��K.���� ��Ԡ �N ���9hI����9(I�H�q��HJ�@�`� "iN��O[8�8���m-N�#Qw���hԝ ǣ�8"u'�1�;�� ǥ���p�Ò�`3���QN`�R8N9H�(�� N@�+'��������1��a�Ά38v̰|8�9v��l���� h�|WMo\7�+�t%��n�$�{(��&�ER���E�{���k�J��� ):�v�#�~H� ƀ��r8��#�� ��hF�1�|Hx��F�W;�Gz!r�kʈ��*���^yн �(8� ��S"�t 8u�G����sE�H��}B�����p��_�����C��#`�|lԇ�:y�We��J�WSr���e`cSpm��!Xc�F����\N���@R�!�u�_HRbB;7��F�+���KK�������#э0��a0ؐ#�(t���F�����Y���`0�����F0D����cfp������˹�2h�xq�}��������3��To��� ������Ԟ���3PT����@S-�GC59�ե}�D�i �F dթ��UU�j��f tխ��� (��RT ձ��Z6�U��j�@U]h�m]�m`��'�Aun �� ����Լ���7PT����@�00����Z���Qk€h]��a k}(Z#�։���b`֋��53A�hv�2���֒�YO�֔��ue�jm�bu0k���:�@�����f@��̺��k�M{h����9��������+��}�r�+o������� >w�Фe҄��-}��6��Zz���'Y�FJ��Hy!\ �,�[$Յp��g*�O�����̋ 144 0 obj <> endobj Black Hills is revising its guidance for 2020 earnings per share available for common stock, as adjusted (a non-GAAP measure*), to a range of $3.45 to $3.65 from $3.55 to $3.75, based on the following updated assumptions:*  Earnings per share, as adjusted, is defined as GAAP Earnings per share, adjusted for expenses and gains that the company believes do not reflect the company’s core operating performance. Corporate and Other also includes business development activities that are not part of our operating segments.Adjusted operating income (loss) was comparable to the same period in the prior year.For the three months ended March 31, 2020, we recorded a pre-tax non-cash write-down of $6.9 million in our investment in equity securities of a privately held oil and gas company. The impairment was triggered by continued adverse changes in future natural gas prices and liquidity concerns at the privately held oil and gas company. View 12 reviews.

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