The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Black Hills whiffed on revenues and met expectations on earnings per share.
Compared to the prior-year quarter, revenue shrank and GAAP earnings per share grew.
Margins grew across the board.
Black Hills recorded revenue of $246.8 million. The two analysts polled by S&P Capital IQ wanted to see revenue of $292.8 million on the same basis. GAAP reported sales were 3.8% lower than the prior-year quarter's $256.5 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.42. The three earnings estimates compiled by S&P Capital IQ forecast $0.42 per share. GAAP EPS were $0.78 for Q3 against -$0.27 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 37.3%, 450 basis points better than the prior-year quarter. Operating margin was 20.5%, 430 basis points better than the prior-year quarter. Net margin was 14.0%, 1,810 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $359.3 million. On the bottom line, the average EPS estimate is $0.60.
Next year's average estimate for revenue is $1.35 billion. The average EPS estimate is $1.99.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 96 members out of 107 rating the stock outperform, and 11 members rating it underperform. Among 37 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 35 give Black Hills a green thumbs-up, and two give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Black Hills is outperform, with an average price target of $38.20.
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