BLACK HILLS CORPBKHEarnings & Financial Report
Black Hills Corporation is an American diversified energy company that is an electric and gas utility in South Dakota, Montana, Wyoming, Colorado, Arkansas, Kansas, Nebraska, and Iowa. The company sells power throughout the American West. The company is based in Rapid City, South Dakota. It derives its name from its home in the Black Hills of South Dakota.
BKH Q1 FY2026 Key Financial Metrics
Revenue
$241.6M
Gross Profit
N/A
Operating Profit
$201.9M
Net Profit
$133.1M
Gross Margin
N/A
Operating Margin
83.6%
Net Margin
55.1%
YoY Growth
-3.0%
EPS
$1.73
BLACK HILLS CORP Q1 FY2026 Financial Summary
BLACK HILLS CORP reported revenue of $241.6M (down 3.0% YoY) for Q1 FY2026, with a net profit of $133.1M (down 2.4% YoY) (55.1% margin).
Key Financial Metrics
| Total Revenue | $241.6M |
|---|---|
| Net Profit | $133.1M |
| Gross Margin | N/A |
| Operating Margin | 83.6% |
| Report Period | Q1 FY2026 |
BLACK HILLS CORP Annual Revenue by Year
BLACK HILLS CORP annual revenue history includes year-by-year totals (for example, 2025 revenue was $2.3B).
BLACK HILLS CORP Quarterly Revenue & Net Profit History
BLACK HILLS CORP results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q1 FY2026 | $241.6M | -3.0% | $133.1M | 55.1% |
| Q4 FY2025 | $622.7M | +6.4% | $104.9M | 16.8% |
| Q3 FY2025 | $427.4M | +7.2% | $24.9M | 5.8% |
| Q2 FY2025 | $435.7M | +9.7% | $27.5M | 6.3% |
| Q1 FY2025 | $800.4M | +11.6% | $134.3M | 16.8% |
| Q4 FY2024 | $585.1M | +0.1% | $98.0M | 16.7% |
| Q3 FY2024 | $398.6M | -0.4% | $24.4M | 6.1% |
| Q2 FY2024 | $397.1M | -2.0% | $22.8M | 5.7% |
Income Statement
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $397.1M | $398.6M | $585.1M | $800.4M | $435.7M | $427.4M | $622.7M | $241.6M |
| YoY Growth | -2.0% | -0.4% | 0.1% | 11.6% | 9.7% | 7.2% | 6.4% | -3.0% |
Balance Sheet
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $10.19B | $9.72B | $10.02B | $10.06B | $10.09B | $10.33B | $10.87B | N/A |
| Liabilities | $6.83B | $6.27B | $6.52B | $6.43B | $6.46B | $6.56B | $7.05B | N/A |
| Equity | $3.36B | $3.45B | $3.50B | $3.64B | $3.64B | $3.77B | $3.82B | N/A |
Cash Flow
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|
| Operating CF | $230.6M | $102.1M | $153.2M | $227.8M | $188.6M | $88.9M | $168.1M |