Business Context and Reporting Period
Company: Black Hills Corporation
Filing Type: Form 8-K (Current Report)
Date of Report: November 7, 2012
Reporting Period: Third quarter ended September 30, 2012
Key Financial Metrics
The filing reports the following results for the three months ended September 30, 2012:
- Net Income: $34.5 million
- Earnings Per Share (EPS): $0.78
Note: The filing text does not provide specific values for revenue, operating cash flow, margins, debt levels, or liquidity metrics for this period.
Material Changes vs. Prior Period
The Company reported a significant turnaround in profitability compared to the same period in the prior year:
- 2011 Third Quarter: Net loss of $10.5 million ($0.27 per share).
- 2012 Third Quarter: Net income of $34.5 million ($0.78 per share).
- Change: Improvement from a net loss to net income, representing a swing of $45.0 million in net earnings.
Guidance, Outlook, and Risks
This Form 8-K serves to announce the third-quarter financial results via a press release (Exhibit 99). The filing text itself does not contain specific forward-looking guidance, management commentary on future outlook, detailed risk factors, or descriptions of unusual items beyond the reported earnings figures.
Investor Verification Checklist
- Review the attached Press Release (Exhibit 99) for detailed revenue figures and segment performance not included in the 8-K summary.
- Verify the specific drivers behind the $45.0 million swing from a net loss in 2011 to net income in 2012.
- Check subsequent filings for updated liquidity, debt covenants, and cash flow statements.