Black Hills Reports Strong Q2 Earnings, Reaffirms Guidance, Advances Major Data Center Project & Merger
BKH sits 24% above its 52-week low of $58.06.
Summary
Black Hills Corp. reported strong second-quarter financial results, beating prior year EPS, and reaffirmed its 2026 earnings guidance. The company also provided significant updates on its pending merger with NorthWestern Energy and a major 1.8 GW data center project in Wyoming.
Key Events · Earnings and Guidance · BKH
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Strong Q2 Earnings Beat
Reported Q2 2026 adjusted EPS of $0.54, significantly higher than $0.38 in Q2 2025, driven by new rates and rider recovery.
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2026 Guidance Reaffirmed
Reaffirmed adjusted EPS guidance for 2026 in the range of $4.25 to $4.45 per share, excluding merger-related costs.
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Major Data Center Project Progress
Advancing definitive agreements for a 1.8 GW data center project in Wyoming, with $377 million in refundable customer advances received.
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NorthWestern Energy Merger Nears Completion
The tax-free, all-stock merger is on track to close by year-end 2026, with only one regulatory approval (Montana Public Service Commission) remaining.
Analysis · BKH · Energy & Transportation
This filing is highly important due to the strong Q2 earnings beat and the reaffirmation of full-year guidance, signaling robust operational performance. Crucially, the company is making substantial progress on two major strategic initiatives: the merger with NorthWestern Energy, which is nearing completion with only one regulatory approval remaining, and the development of a 1.8 GW data center project in Wyoming, supported by significant customer advances. These developments indicate strong future growth potential and strategic execution. The 56th consecutive annual dividend increase further underscores financial stability.
At the time of this filing, BKH was trading at $71.72 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $5.5B. The 52-week trading range was $58.06 to $78.69. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.