BKH Stock - Black Hills Corporation
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Financial Statements
| Metric | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Revenue | $2.13B | $2.33B | $2.55B | $1.95B | $1.70B |
| Gross Profit | $840.40M | $796.40M | $772.80M | $705.50M | $709.13M |
| Gross Margin | 39.5% | 34.2% | 30.3% | 36.2% | 41.8% |
| Operating Income | $503.10M | $472.70M | $455.20M | $409.40M | $428.30M |
| Net Income | $273.10M | $262.20M | $258.40M | $236.70M | $227.61M |
| Net Margin | 12.8% | 11.2% | 10.1% | 12.1% | 13.4% |
| EPS | $3.91 | $3.91 | $3.98 | $3.74 | $3.65 |
Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. It operates in two segments, Electric Utilities and Gas Utilities. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 218,000 electric utility customers in Colorado, Montana, South Dakota, and Wyoming; and owns and operates 1,481.5 megawatts of generation capacity and 8,892 miles of electric transmission and distribution lines. The Gas Utilities segment distributes natural gas to approximately 1,094,000 natural gas utility customers in Arkansas, Colorado, Iowa, Kansas, Nebraska, and Wyoming; owns and operates 4,732 miles of intrastate gas transmission pipelines; 41,644 miles of gas distribution mains and service lines; six natural gas storage sites; and approximately 50,000 horsepower of compression and 515 miles of gathering lines. The company also constructs and maintains gas infrastructure facilities for gas transportation customers; and provides appliance repair services to residential utility customers, as well as electrical system construction services to large industrial customers. In addition, it produces electric power through wind, natural gas, and coal-fired generating plants; and coal at its coal mine located near Gillette, Wyoming. The company was incorporated in 1941 and is headquartered in Rapid City, South Dakota.
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Price Targets
Recent Analyst Actions
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| November 7th 2025 | Scotiabank | Upgrade | Sector Outperform | $81 |
| August 20th 2025 | BofA Securities | Upgrade | Neutral | $64 |
| May 13th 2025 | BMO Capital Markets | Initiation | Outperform | $68 |
| November 21st 2023 | Mizuho | Upgrade | Neutral | $53 |
| February 10th 2023 | RBC Capital Mkts | Downgrade | Sector Perform | $68← $81 |
| February 9th 2023 | Sidoti | Downgrade | Neutral | $67 |
| February 9th 2023 | Mizuho | Downgrade | Underperform | $60← $71 |
| February 8th 2023 | Scotiabank | Downgrade | Sector Perform | $67 |
| October 13th 2022 | BofA Securities | Downgrade | Neutral | $66← $87 |
| May 6th 2022 | Mizuho | Downgrade | Neutral | $76← $71 |
Earnings History & Surprises
BKHEPS Surprise History
Quarterly EPS Details
| Period | Report Date | Estimated EPS | Actual EPS | Surprise | Result |
|---|---|---|---|---|---|
Q2 2026 | May 5, 2026 | — | — | — | — |
Q1 2026 | Feb 4, 2026 | $1.45 | — | — | — |
Q4 2025 | Nov 5, 2025 | $0.45 | $0.45 | 0.0% | = MET |
Q3 2025 | Jul 30, 2025 | $0.38 | $0.38 | 0.0% | = MET |
Q2 2025 | May 7, 2025 | $1.92 | $1.87 | -2.6% | ✗ MISS |
Q1 2025 | Feb 5, 2025 | $1.20 | $1.37 | +14.2% | ✓ BEAT |
Q4 2024 | Nov 6, 2024 | $0.48 | $0.35 | -27.1% | ✗ MISS |
Q3 2024 | Jul 31, 2024 | $0.29 | $0.33 | +13.8% | ✓ BEAT |
Q2 2024 | May 8, 2024 | $1.70 | $1.87 | +10.0% | ✓ BEAT |
Q1 2024 | Feb 7, 2024 | $1.08 | $1.17 | +8.3% | ✓ BEAT |
Q4 2023 | Nov 1, 2023 | $0.53 | $0.67 | +26.4% | ✓ BEAT |
Q3 2023 | Aug 2, 2023 | $0.38 | $0.35 | -7.9% | ✗ MISS |
Q2 2023 | May 3, 2023 | $1.66 | $1.73 | +4.2% | ✓ BEAT |
Q1 2023 | Feb 7, 2023 | $1.16 | $1.11 | -4.3% | ✗ MISS |
Q4 2022 | Nov 2, 2022 | $0.58 | $0.54 | -6.9% | ✗ MISS |
Q3 2022 | Aug 3, 2022 | $0.40 | $0.52 | +30.0% | ✓ BEAT |
Q2 2022 | May 4, 2022 | $1.65 | $1.82 | +10.3% | ✓ BEAT |
Q1 2022 | Feb 9, 2022 | $1.28 | $1.11 | -13.3% | ✗ MISS |
Q4 2021 | Nov 2, 2021 | $0.64 | $0.70 | +9.4% | ✓ BEAT |
Q3 2021 | Aug 3, 2021 | $0.39 | $0.40 | +2.6% | ✓ BEAT |
Latest News
Scotiabank Upgrades Black Hills to Sector Outperform, Raises Price Target to $81
📈 PositiveBlack Hills Affirms FY2025 GAAP EPS Guidance of $4.00-$4.20 vs $4.11 Est
📈 PositiveBlack Hills Q3 Adj. EPS $0.45 Beats $0.39 Estimate, Sales $430.200M Miss $445.480M Estimate
➖ NeutralB of A Securities Upgrades Black Hills to Neutral, Raises Price Target to $64
➖ NeutralNorthWestern Energy Group shares are trading higher amid the announcement that the company will merge with Black Hills.
📈 PositiveBlack Hills And NorthWestern Energy To Merge In All-Stock, Tax-Free Deal Creating $15.4B Regional Utility Company
📈 PositiveFrequently Asked Questions about BKH
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