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Black Hills Corp. (BKH)
NYSE:BKH
Earnings Data
Report Date
May 06, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
2.01Last Year’s EPS
1.87Same Quarter Last Year
Moderate Buy
Based on 3 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized consistent execution: EPS growth (adjusted +5%), maintained credit metrics, successful completion of major projects (Ready Wyoming), a large and fast-growing data center pipeline (>3 GW) with potential meaningful EPS contribution (>10% by 2028), and constructive 2026 guidance (+6% midpoint). Offsetting these positives are higher O&M and financing costs, merger-related expenses and share issuance, increased depreciation, weather sensitivity, and material uncertainty around signing and structuring very large data center projects and obtaining regulatory approvals for the merger and multiple rate filings. Overall, the positives (steady earnings growth, strong liquidity, dividend track record, major project delivery and attractive pipeline) materially outweigh the challenges, though several execution and regulatory risks remain.Company Guidance
Adjusted EPS Growth
Reported GAAP EPS of $3.98 and adjusted EPS of $4.10 for 2025, a 5% increase versus $3.91 in 2024 (adjusted for $0.12 of merger-related transaction costs).
2026 Earnings Guidance
Initiated 2026 adjusted EPS guidance of $4.25 to $4.45, representing approximately 6% year-over-year growth at the midpoint versus 2025.
Large Data Center Pipeline and Expected Contribution
Tripled data center pipeline to more than 3 GW; expect to serve ~600 MW by 2030 (from Microsoft and Meta) and anticipate this demand contributing more than 10% of consolidated EPS beginning in 2028 under current assumptions.
Major Project Execution — Ready Wyoming & Lange II
Completed the 260-mile Ready Wyoming transmission project on schedule (transformational reliability and market access); broke ground on Lange II, a 99 MW generation project expected in service Q4 2026.
Regulatory and Revenue Progress
Completed 3 rate reviews in 2025 delivering over $52 million of new annual revenue and secured deferred-accounting trackers and a weather normalization pilot that reduce future earnings volatility.
Strong Financial Position and Liquidity
Maintained investment-grade credit metrics (target ~55% net debt to total capitalization; FFO to debt ~14%–15%), issued $450M of notes (4.55%) and held >$700M of revolver availability at year-end.
Capital Plan and Dividend Track Record
Maintaining a $4.7 billion capital plan with $900 million funded in 2025; increased the dividend for the 56th consecutive year and target payout ratio of 55%–65%.
BKH Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
BKH Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 04, 2026 | $73.04 | $73.73 | +0.95% |
Nov 05, 2025 | $63.52 | $66.46 | +4.63% |
Jul 30, 2025 | $55.41 | $56.06 | +1.17% |
May 07, 2025 | $59.22 | $56.45 | -4.66% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Black Hills Corp. (BKH) report earnings?
Black Hills Corp. (BKH) is schdueled to report earning on May 06, 2026, After Close (Confirmed).
What is Black Hills Corp. (BKH) earnings time?
Black Hills Corp. (BKH) earnings time is at May 06, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is BKH EPS forecast?
BKH EPS forecast for the fiscal quarter 2026 (Q1) is 2.01.