Quarterly ResultMay 7, 2026, 11:56 AM
Black Hills Q1 Revenue $780.7M, EPS $1.74; Data Center Deal
AI Summary
Black Hills reported a decrease in Q1 2026 revenue to $780.7 million from $805.2 million year-over-year, with diluted EPS falling to $1.73 from $1.87. Despite the financial dip, the company announced significant operational developments, including a generation reservation agreement with a prospective 1.8 GW data center customer in Wyoming, securing $201 million in refundable CIAC payments. Additionally, Black Hills is actively pursuing rate reviews across its Arkansas, Kansas, Nebraska, and South Dakota gas and electric utilities to recover infrastructure investments and increased operating costs.
Key Highlights
- Q1 2026 revenue decreased 3.04% to $780.7 million from $805.2 million in Q1 2025.
- Diluted earnings per share fell 7.49% to $1.73 in Q1 2026 from $1.87 in Q1 2025.
- Net income available for common stock was $131.0 million, down from $134.3 million year-over-year.
- Wyoming Electric secured a generation reservation agreement for a 1.8 GW data center, receiving $201 million in CIAC.
- Colorado Electric executed a PPA to purchase up to 200 MW of solar energy by mid-2029 for its Clean Energy Plan.
- Arkansas Gas filed a rate review seeking $29.4 million in new annual revenue, with new rates expected Q4 2026.
- South Dakota Electric filed rate reviews seeking $50.6 million and $5.1 million in new annual revenue in South Dakota and Wyoming, respectively.
- Nebraska Gas received approval for a $23.9 million annual revenue increase, with customers due a $4.7 million refund.