Earnings summaries and quarterly performance for BLACK HILLS CORP /SD/.
Executive leadership at BLACK HILLS CORP /SD/.
Board of directors at BLACK HILLS CORP /SD/.
Research analysts who have asked questions during BLACK HILLS CORP /SD/ earnings calls.
AW
Andrew Weisel
Scotiabank
7 questions for BKH
Also covers: AEP, CEG, CMS +13 more
CE
Chris Ellinghaus
Siebert Williams Shank
4 questions for BKH
Also covers: CTRI, IDA, KNF +4 more
AC
Anthony Crowdell
Mizuho Financial Group
2 questions for BKH
Also covers: AEE, AEP, AES +30 more
BR
Brian Russo
Jefferies
2 questions for BKH
Also covers: AEE, ALE, AVA +8 more
CE
Christopher Ellinghaus
Siebert Williams Shank & Co., LLC
2 questions for BKH
Also covers: CPK, CTRI, ECG +12 more
Julien Dumoulin-Smith
Jefferies
1 question for BKH
Also covers: AEE, AEP, AES +54 more
Ross Fowler
Bank of America
1 question for BKH
Also covers: AEP, D, EMRAF +10 more
Recent press releases and 8-K filings for BKH.
Black Hills Corp. Nebraska Gas Utility Receives Rate Approval
BKH
New Projects/Investments
Guidance Update
- Black Hills Corp.'s natural gas utility subsidiary in Nebraska received approval for new rates from the Nebraska Public Service Commission, allowing for the recovery of over $453 million in system investments since 2020.
- The approved settlement agreement is projected to generate a total annual base rate revenue increase of $42.4 million, effective January 1, 2026.
- The new rates are based on a return on equity of 9.85% and a capitalization structure of 50.5% equity and 49.5% debt.
Dec 9, 2025, 9:15 PM
Black Hills Corporation Reaffirms 2025 EPS Guidance and Provides Merger Update
BKH
Guidance Update
M&A
New Projects/Investments
- Black Hills Corporation (BKH) reaffirmed its full-year 2025 adjusted earnings guidance range of $4.00 to $4.20 and reported Q3 2025 adjusted earnings per share of $0.45. The company targets 4% to 6% long-term EPS growth, expecting to deliver in the upper half of this range starting in 2026.
- The company forecasts $4.7 billion in capital investments from 2025 to 2029, including $1 billion in 2025. These investments support strategic initiatives such as a growing data center pipeline of 3 GW+, with 500 MW of data center load by 2029 expected to contribute 10%+ to EPS beginning in 2028. The Ready Wyoming transmission expansion project is also on track for completion by year-end 2025.
- The proposed merger with NorthWestern Energy Group, Inc. is progressing, with regulatory applications filed in Montana, Nebraska, and South Dakota, and an expected FERC filing in Q4 2025. The merger is anticipated to close in Q4 2026.
Nov 6, 2025, 4:00 PM
Black Hills Corporation Reports Q3 2025 Results and Reaffirms Guidance
BKH
M&A
Guidance Update
New Projects/Investments
- Black Hills Corporation (BKH) reported Q3 2025 adjusted EPS of $0.45 per share and year-to-date adjusted EPS of $2.68 per share.
- The company reaffirmed its 2025 adjusted EPS guidance range of $4-$4.20 per share, representing a 5% growth at the midpoint over 2024 EPS, and plans to deliver in the upper half of its 4-6% long-term EPS growth target starting in 2026.
- BKH is progressing with its $4.7 billion capital plan, including the Ready Wyoming transmission expansion expected to be completed by year-end and the 99-megawatt Lang 2 generation project anticipated to be in service by the second half of 2026.
- The planned merger with Northwestern Energy is on track, with joint regulatory applications submitted in October and an expected finalization in the second half of 2026.
- The company has signed non-disclosure agreements for more than 3 gigawatts of data center demand, with current plans projecting data centers to contribute over 10% of total EPS by 2028 based on 500 megawatts of demand.
Nov 6, 2025, 4:00 PM
Black Hills Corp. Reports Q3 2025 Results and Reaffirms 2025 Adjusted Earnings Guidance
BKH
Earnings
Guidance Update
M&A
- Black Hills Corp. reported Q3 2025 adjusted EPS of $0.45, up from $0.35 in Q3 2024, and year-to-date adjusted EPS of $2.68, compared to $2.52 in the same period of 2024.
- The company reaffirmed its 2025 adjusted earnings guidance in the range of $4.00 to $4.20 per share.
- Black Hills Corp. announced a tax-free, all-stock merger with NorthWestern Energy in August 2025, with joint regulatory applications filed in October 2025 for Montana, Nebraska, and South Dakota, and an expected closing in the second half of 2026.
- The company is executing on its $4.7 billion five-year capital plan (2025-2029), with the Ready Wyoming transmission expansion project expected to be completed by year-end 2025 and construction commenced on the Lange II 99 MW generation facility for service in the second half of 2026.
Nov 5, 2025, 9:48 PM
Black Hills Corporation Issues $450 Million in 4.550% Senior Notes Due 2031
BKH
Debt Issuance
New Projects/Investments
- On October 2, 2025, Black Hills Corporation issued and sold $450 million aggregate principal amount of its 4.550% Notes due 2031.
- The Notes will bear interest at 4.550% per annum, payable semi-annually beginning January 31, 2026, and will mature on January 31, 2031.
- The company intends to use the net proceeds primarily to repay $300 million of its 3.950% notes due January 15, 2026, with any remaining funds allocated to general corporate purposes, including capital expenditures, acquisitions, or other debt repayment.
Oct 2, 2025, 8:10 PM
Black Hills Corporation Announces Notes Offering
BKH
Debt Issuance
- Black Hills Corporation entered into an Underwriting Agreement on September 25, 2025, for the issuance and sale of $450 million aggregate principal amount of its 4.550% Notes due 2031.
- The company expects to receive approximately $447.0 million in aggregate gross consideration from the sale of these Notes.
- The issuance and settlement of the Notes are scheduled to occur on October 2, 2025.
Sep 29, 2025, 8:11 PM
Black Hills Corporation Announces All-Stock Merger with NorthWestern Energy Group
BKH
M&A
- Black Hills Corporation announced a pending all-stock merger transaction with NorthWestern Energy Group, Inc., which was unanimously approved by both companies' boards of directors on August 18, 2025.
- The Merger Agreement stipulates that each share of NorthWestern common stock will be converted into the right to receive 0.98 shares of Black Hills common stock, with an estimated merger consideration of approximately $3.6 billion.
- The merger is contingent upon various conditions, including shareholder and regulatory approvals from state commissions and the Federal Energy Regulatory Commission.
- Pro forma combined financial statements for the six months ended June 30, 2025, show revenue of $2,054 million and basic and diluted earnings per share of $1.99. For the year ended December 31, 2024, pro forma revenue was $3,642 million and basic and diluted earnings per share were $3.85.
Sep 15, 2025, 9:17 PM
Quarterly earnings call transcripts for BLACK HILLS CORP /SD/.
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