Business Context and Reporting Period
This Form 8-K filing by Black Hills Corporation is dated February 29, 2016. The report serves as a Regulation FD disclosure regarding upcoming investor meetings scheduled between March 1, 2016, and April 6, 2016, to discuss operations and business plans.
Key Financial Metrics
The filing does not provide historical revenue, profit, cash flow, margins, debt, or liquidity figures. It focuses exclusively on forward-looking earnings guidance.
- 2016 EPS Guidance (Adjusted): $2.90 to $3.10
- 2017 EPS Guidance (Preliminary, Adjusted): $3.35 to $3.65
Note: "Earnings per share, as adjusted" is a non-GAAP measure excluding unique one-time events, impairments, and acquisition/disposition costs. The company states it cannot provide a forward-looking quantitative reconciliation to GAAP due to the unpredictability of future unique events.
Material Changes
The filing does not report material changes to financial results compared to prior periods. It confirms the reaffirmation of guidance previously issued on February 12, 2016.
Guidance, Outlook, and Risks
Management intends to reaffirm the 2016 and preliminary 2017 earnings guidance during the upcoming investor meetings. The guidance is based on reasonable assumptions regarding current expectations and industry trends.
Risks and Contingencies:
- Actual results may differ materially from forward-looking statements due to various risks and uncertainties.
- Specific risk factors are detailed in Item 1A of the company's 2015 Annual Report on Form 10-K.
- New factors may emerge that could impact results, and the company assumes no obligation to update these statements publicly.
Investor Verification Checklist
- Verify the definition of "Earnings per share, as adjusted" to understand specific exclusions from GAAP figures.
- Review the 2015 Annual Report on Form 10-K (Item 1A) for detailed risk factors affecting the guidance.
- Access the presentation materials at the company's website for further details on the business plans discussed in the upcoming meetings.
- Note that no quantitative GAAP reconciliation is available for the forward-looking guidance.