Business Context and Reporting Period
Company: Black Hills Corporation
Filing Type: Form 8-K (Current Report)
Date of Report: October 29, 2009
Reporting Period: Third quarter ended September 30, 2009
This filing announces the Company's third-quarter 2009 financial results via a press release attached as Exhibit 99.
Key Financial Metrics
| Metric | Q3 2009 | Q3 2008 |
|---|---|---|
| Net Income/Loss | Loss of $2.2 million ($0.06 per share) | Income of $164.9 million ($4.29 per share) |
| Income/Loss from Continuing Operations | Loss of $3.9 million ($0.10 per share) | Income of $19.5 million ($0.51 per share) |
| Revenue | Not provided in filing text | Not provided in filing text |
| Cash Flow, Margins, Debt, Liquidity | Not provided in filing text | Not provided in filing text |
Material Changes Versus Prior Period
- Net Income: The Company reported a net loss of $2.2 million in Q3 2009, a significant reversal from the $164.9 million net income reported in Q3 2008.
- Continuing Operations: Loss from continuing operations was $3.9 million in Q3 2009, compared to income of $19.5 million in the same period of the prior year.
- Per Share Impact: Earnings per share dropped from $4.29 in 2008 to a loss of $0.06 in 2009.
Guidance, Outlook, and Risks
Management Commentary: The filing text references a press release for detailed results but does not contain specific management commentary, forward-looking guidance, or risk factors within the 8-K body itself.
Unusual Items: The drastic swing from a $164.9 million profit to a $2.2 million loss suggests significant unusual items or non-recurring events occurred in the prior year or current year, though the specific nature of these items is not detailed in this summary text.
Investor Verification Checklist
- Review the attached press release (Exhibit 99) for the specific drivers of the $167 million swing in net income.
- Verify the composition of the Q3 2008 income to determine if it included one-time gains or asset sales.
- Examine the Q3 2009 loss from continuing operations ($3.9 million) to understand the core business performance excluding non-recurring items.
- Check subsequent filings for revenue figures and liquidity metrics not included in this 8-K.