Black Hills Q3 Profit Rises, Beats View; Lifts 2014 Earnings Outlook

(RTTNews) - Black Hills Corp. (BKH) reported net income for the third quarter of $26.8 million or $0.60 per share, up from $23.1 million or $0.52 per share in the year-ago quarter.

Excluding items, adjusted net income for the year-ago quarter was $21.1 million or $0.47 per share.

On average, five analysts polled by Thomson Reuters expected the company to earn $0.52 per share for the latest quarter. Analysts' estimates typically exclude special items.

Total revenue for the quarter rose to $272.1 million from $259.9 million a year ago.

For fiscal 2014, Black Hills raised its outlook for adjusted earnings to a range of $2.80 to $2.95 per share from the prior range of $2.65 to $2.85 per share. Analysts currently expect the company to earn $2.77 per share for the year.

For fiscal 2015, Black Hills initiated outlook for adjusted earnings in a range of $2.90 to $3.10 per share. Street expects the company to report earnings of $2.83 per share for the year.