Black Hills Corporation
63.77-1.58 (-2.42%)
Oct 29, 4:00:02 PM EDT · NYSE · BKH · USD
Key Stats
Market Cap
4.65BP/E (TTM)
16.10Basic EPS (TTM)
3.96Dividend Yield
0.04%Recent Filings
8-K
Debt offering completed
Black Hills Corporation completed a $450 million debt offering of 4.550% notes due January 31, 2031, on October 2, 2025. The notes, unsecured senior obligations with semi-annual interest payments starting January 31, 2026, will primarily repay $300 million of 3.950% notes maturing January 15, 2026, with remaining proceeds for general corporate purposes. This refinancing extends maturities while slightly raising borrowing costs. Events of default include nonpayment and bankruptcy triggers.
8-K
Black Hills-NorthWestern merger update
Black Hills Corporation disclosed historical financials of NorthWestern Energy Group and pro forma combined statements for their pending all-stock merger, announced August 18, 2025, and unanimously approved by both boards. The deal, converting each NorthWestern share into 0.98 Black Hills shares, awaits shareholder votes, HSR clearance, FERC approval, and state commission nods, with risks of delays from regulatory hurdles or termination events. Merger completion could enhance scale in regulated utilities, yet integration challenges loom.
8-K
Black Hills-NorthWestern merger announced
Black Hills Corporation announced an all-stock merger with NorthWestern Energy Group on August 18, 2025, exchanging 0.98 Black Hills shares for each NorthWestern share, creating a $7.8 billion utility serving 2.1 million customers across eight states with a doubled $11.4 billion rate base. The deal, unanimously board-approved, targets 5-7% long-term EPS growth and first-year accretion for both, while enhancing scale for infrastructure investments amid rising energy demand. Brian Bird steps in as CEO post-close, succeeding retiring Linden Evans. Regulatory hurdles loom large.
8-K
Black Hills-NorthWestern merger announced
Black Hills Corporation announced an all-stock merger with NorthWestern Energy on August 19, 2025, creating a $7.8 billion market cap utility serving 2.1 million customers across eight states with a doubled $11.4 billion rate base. The deal, offering NorthWestern shareholders 0.98 Black Hills shares for a 4% premium, promises EPS accretion in year one and boosts long-term growth targets to 5-7%, while unlocking over $7 billion in 2025-2029 infrastructure investments. Yet regulatory approvals pose closure risks.
10-Q
Q2 FY2025 results
Black Hills Corporation posted solid Q2 results, with revenue climbing 9.1% year-over-year to $439.0 million, fueled by new rates and rider recoveries across electric and gas utilities, while operating income rose 16.9% to $82.5 million amid milder weather impacts. Electric utilities edged up 5.8% in margin to $164.6 million, supported by retail growth, yet faced headwinds from unplanned outages; gas utilities surged 13.4% to $154.1 million, boosted by favorable weather and rate hikes in Arkansas and Iowa. Diluted EPS hit $0.38, up from $0.33, aligning with 72.4 million shares. Cash from operations stood at $416.4 million year-to-date, funding $371.8 million in capex, with free cash flow at $44.6 million after $371.8 million capex; debt eased to $4.3 billion, revolver availability at $622.8 million under 0.55:1 leverage. The OBBBA's clean energy tweaks pose regulatory risks, but core operations hum steadily.
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