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Black Hills Corporation Ready Black Hills Corp. Reports First Quarter 2021 Results and Reaffirms Guidance RAPID CITY , S.D. May 4 , 2021 — Black Hills Corp. ( NYSE : BKH ) today announced financial results for the first quarter of 2021. Net income and Net income , as adjusted ( non - GAAP ) for the first quarter of 2021 compared to the first quarter of 2020 were : ( in millions , except per share amounts ) GAAP : Net income Non - GAAP : Three Months Ended March 31 , 2021 2020 Income EPS Income EPS $ 96.3 $ 1.54 $ 93.2 $ 1.51 Net income , as adjusted * $ 96.3 $ 1.54 $ 98.4 $ 1.59 * A schedule for the GAAP to non - GAAP adjustment reconciliation is provided below . “ The first quarter will be remembered for Winter Storm Uri and its historic impacts , ” said Linn Evans , president and CEO of Black Hills Corp. “ When Uri disrupted our industry and millions of lives across the United States , we kept our customers safe with reliable and uninterrupted service throughout the storm . Our team and infrastructure performed remarkably well to serve the extraordinary demand during dangerous and historic cold conditions . This storm highlighted the critical need for safe and reliable gas utilities and firm generation capacity , affirming our customer - focused strategy and capital plan . " Solid financial performance during the quarter was overshadowed by a $ 0.15 per share adverse impact from Winter Storm Uri , resulting primarily from certain non - recoverable fuel costs related to the storm . Results benefited from new recovery on investments and colder weather , partially offset by increased share count due to equity issued in February 2020 . " We made excellent progress on our strategic initiatives , advancing our renewable energy strategy in Colorado and executing on our capital investment plan . We also received the final order for our Nebraska rate review and we've had constructive discussions with all of our states regarding recovery of the incremental costs related to Winter Storm Uri . " We are reaffirming our 2021 and 2022 earnings guidance and five - year capital plan of more than $ 3 billion , " continued Evans . " We immediately implemented cash and expense management programs in response to the financial challenges posed by storm Uri and our business fundamentals and outlook remains strong . We remain confident in our strategy and opportunities ahead as we target 5 % to 7 % earnings growth beyond 2022. "