Black Hills (BKH) Financials: History & Chart

Black Hills Corporation (BKH)BKHBlack Hills Corporation

About Black Hills Corporation

Black Hills Corporation operates as an American utility firm, delivering both electric power and natural gas through its subsidiaries. Its business is organized into two primary divisions: Electric Utilities and Gas Utilities. The Electric Utilities segment is responsible for generating, transmitting, and distributing electricity to approximately 218,000 customers spanning Colorado, Montana, South Dakota, and Wyoming. This division manages 1,481.5 megawatts of power generation capacity and maintains 8,892 miles of electric transmission and distribution lines. Electric power generation is diversified, utilizing wind, natural gas, and coal-fired plants, and the company also operates a coal mine near Gillette, Wyoming. Conversely, the Gas Utilities segment provides natural gas to roughly 1,094,000 utility clients across Arkansas, Colorado, Iowa, Kansas, Nebraska, and Wyoming. This operation includes overseeing 4,732 miles of intrastate gas transmission pipelines, 41,644 miles of gas distribution mains and service lines, six natural gas storage facilities, around 50,000 horsepower of compression, and 515 miles of gathering lines. Beyond these core utility offerings, Black Hills Corporation also constructs and maintains gas infrastructure for various gas transportation customers. It provides appliance repair services for residential utility subscribers and offers electrical system construction to large industrial clients. Founded in 1941, the company's headquarters are situated in Rapid City, South Dakota.

Rapid City, SD

2,795 employees

ir.blackhillscorp.com

Utilities / Regulated Gas

Sector: Utilities
Industry: Regulated Gas
CEO: Linden R. Evans

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Financials

SEC Filings

Quarterly Income Statement (USD)

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Quarterly Report	TTM	Quarter ended Mar 2026	Quarter ended Dec 2025	Quarter ended Sep 2025	Quarter ended Jun 2025	Quarter ended Mar 2025	Quarter ended Dec 2024	Quarter ended Sep 2024	Quarter ended Jun 2024
Revenue	2.29B	780.70M	635.50M	430.20M	439.00M	805.20M	597.10M	401.60M	402.60M
Cost of Goods Sold	1.47B	562.70M	373.40M	262.80M	271.60M	513.40M	348.30M	240.10M	248.80M
Gross Profit	814.90M	218.00M	262.10M	167.40M	167.40M	291.80M	248.80M	161.50M	153.80M
Gross Profit Margin	35.7%	27.9%	41.2%	38.9%	38.1%	36.2%	41.7%	40.2%	38.2%
Total Operating Expenses	282.40M	18.10M	90.70M	88.70M	84.90M	86.80M	85.50M	85.70M	83.20M
Research & Development	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Selling, General & Administrative	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Income (EBIT)	532.50M	199.90M	171.40M	78.70M	82.50M	205.00M	163.30M	75.80M	70.60M
Operating Margin	23.3%	25.6%	27.0%	18.3%	18.8%	25.5%	27.3%	18.9%	17.5%
Income Before Tax (EBT)	339.60M	150.70M	125.80M	29.90M	33.20M	154.50M	113.80M	29.30M	28.40M
Interest Income	7.50M	1.20M	4.20M	1.20M	900K	400K	600K	5.40M	5.60M
Interest Expense	206.80M	52.40M	54.70M	49.90M	49.80M	51.70M	50.40M	50.60M	48.20M
Other Income/Expense	-192.90M	-49.20M	-45.60M	-48.80M	-49.30M	-50.50M	-49.50M	-46.50M	-42.20M
Net Income	288.30M	131.00M	104.90M	24.90M	27.50M	134.30M	98.10M	24.40M	22.80M
Income Tax Expense	43.20M	17.60M	17.20M	4.00M	4.40M	18.10M	12.70M	2.90M	3.70M
Net Profit Margin	12.6%	16.8%	16.5%	5.8%	6.3%	16.7%	16.4%	6.1%	5.7%
EBITDA	820.20M	274.70M	244.70M	148.50M	152.30M	274.20M	231.60M	145.10M	137.20M
EBITDA Margin	35.9%	35.2%	38.5%	34.5%	34.7%	34.1%	38.8%	36.1%	34.1%
Depreciation & Amortization	287.70M	74.80M	73.30M	69.80M	69.80M	69.20M	68.30M	69.30M	66.60M
EPS Basic	3.86	1.74	1.40	0.34	0.38	1.87	1.37	0.35	0.33
EPS Diluted	3.84	1.73	1.39	0.34	0.38	1.87	1.37	0.35	0.33
Shares Outstanding	75.40M	75.40M	75.20M	73.24M	72.40M	71.60M	71.40M	70.50M	69.00M
Diluted Shares Outstanding	75.60M	75.60M	75.40M	72.90M	72.40M	71.80M	71.60M	70.60M	69.00M

Annual Income Statement (USD)

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Annual Report	12/31/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018
Revenue	2.31B	2.13B	2.33B	2.55B	1.95B	1.70B	1.73B	1.75B
Cost of Goods Sold	1.42B	1.29B	1.53B	1.78B	1.24B	987.81M	1.07B	1.11B
Gross Profit	888.70M	840.40M	796.40M	772.80M	705.50M	709.13M	668.08M	646.95M
Gross Profit Margin	38.5%	39.5%	34.2%	30.3%	36.2%	41.8%	38.5%	36.9%
Total Operating Expenses	351.20M	337.30M	323.70M	317.60M	296.10M	280.83M	262.04M	249.91M
Research & Development	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Selling, General & Administrative	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Income (EBIT)	537.50M	503.10M	472.70M	455.20M	409.40M	428.30M	406.04M	397.04M
Operating Margin	23.3%	23.6%	20.3%	17.8%	21.0%	25.2%	23.4%	22.6%
Income Before Tax (EBT)	343.50M	320.00M	301.60M	296.00M	258.40M	275.68M	242.90M	255.88M
Interest Income	6.80M	13.50M	12.10M	1.60M	1.70M	1.46M	1.63M	1.64M
Interest Expense	206.90M	195.20M	180.00M	162.60M	154.10M	144.93M	139.29M	141.62M
Other Income/Expense	-194.00M	-183.10M	-171.10M	-159.20M	-151.00M	-152.62M	-163.14M	-141.16M
Net Income	291.60M	273.10M	262.20M	258.40M	236.70M	227.61M	199.31M	258.44M
Income Tax Expense	43.70M	36.30M	25.60M	25.20M	7.20M	32.92M	29.58M	-23.67M
Net Profit Margin	12.6%	12.8%	11.2%	10.1%	12.1%	13.4%	11.5%	14.7%
EBITDA	821.30M	773.20M	729.50M	706.10M	645.40M	652.76M	615.16M	593.37M
EBITDA Margin	35.6%	36.3%	31.3%	27.7%	33.1%	38.5%	35.5%	33.8%
Depreciation & Amortization	283.80M	270.10M	256.80M	250.90M	236.00M	224.46M	209.12M	196.33M
EPS Basic	3.99	3.91	3.91	3.98	3.74	3.65	3.29	4.75
EPS Diluted	3.98	3.91	3.91	3.97	3.74	3.65	3.28	4.66
Shares Outstanding	73.00M	69.80M	67.00M	64.86M	63.22M	62.38M	60.66M	54.40M
Diluted Shares Outstanding	73.20M	69.90M	67.10M	65.02M	63.33M	62.44M	60.80M	55.50M

Values are displayed in USD. Negative numbers shown in red.

Values are displayed in USD. Negative numbers are shown in red.