Business Context and Reporting Period
Company: Black Hills Corporation
Filing Type: Form 8-K (Current Report)
Date of Report: February 6, 2014
Subject: Announcement of 2013 financial results and fourth-quarter 2013 performance.
Key Financial Metrics
| Metric | Q4 2013 | Q4 2012 | Full Year 2013 | Full Year 2012 |
|---|---|---|---|---|
| Income from Continuing Operations | $19.0 million ($0.43/share) | $30.9 million ($0.70/share) | $115.8 million ($2.61/share) | $88.5 million ($2.01/share) |
| Net Income | $18.1 million ($0.41/share) | $30.8 million ($0.70/share) | $115.0 million ($2.59/share) | $81.5 million ($1.85/share) |
Note: The filing text does not provide specific values for revenue, cash flow, margins, debt, or liquidity.
Material Changes vs. Prior Period
- Fourth Quarter 2013: Income from continuing operations and net income decreased significantly compared to the same period in 2012. Net income per share dropped from $0.70 to $0.41.
- Full Year 2013: Despite the Q4 decline, both income from continuing operations and net income increased for the full year compared to 2012. Full-year net income per share rose from $1.85 to $2.59.
Guidance, Outlook, and Risks
The filing serves as a notification of the press release attached as Exhibit 99. It does not contain specific management commentary, forward-looking guidance, risk factors, or details on contingencies within the text of the 8-K itself. The document explicitly states that the information is furnished pursuant to Item 2.02 and is not deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934.
Investor Verification Checklist
- Review the attached Press Release (Exhibit 99) for detailed revenue figures, segment performance, and management commentary explaining the Q4 decline.
- Verify the specific drivers behind the decrease in Q4 2013 income compared to Q4 2012.
- Confirm full-year 2013 revenue and operating cash flow figures, which are not listed in this summary text.
- Check for any updates on debt levels or liquidity positions in the full press release or subsequent 10-K filing.