BLACK HILLS CORP /SD/

Black Hills Corp. reported strong financial results for the second quarter of 2026, with GAAP EPS increasing to $0.50 and Adjusted EPS reaching $0.54, both up from the prior year. The company reaffirmed its 2026 adjusted earnings guidance of $4.25 to $4.45 per share. Key highlights include significant progress on a 1.8 GW data center project in Wyoming, which has already secured $377 million in refundable advances, and continued advancement of the merger with NorthWestern Energy, with only one regulatory approval remaining. The company also noted increased operating income for both its Electric and Gas Utilities segments.

Black Hills Corp. announced strong financial results for Q2 2026, with adjusted EPS rising to $0.54 from $0.38 in the prior year, and reaffirmed its 2026 adjusted earnings guidance of $4.25 to $4.45 per share. The company is making significant progress on a 1.8 GW data center project in Wyoming and served a new all-time peak load at Wyoming Electric. The merger with NorthWestern Energy is on track, awaiting final regulatory approval from Montana, and the company also completed regulatory requirements for new wildfire liability protections in South Dakota and Wyoming.

Black Hills Corp. announced that its board of directors declared a quarterly dividend of $0.703 per share. This dividend will be paid on September 1, 2026, to shareholders of record as of August 17, 2026. Additionally, the company confirmed it will release its second-quarter 2026 earnings after market close on August 5, 2026, followed by a conference call and webcast on August 6, 2026, at 11 a.m. EDT.

Black Hills Corp. announced it will release its second-quarter 2026 earnings after the market closes on Wednesday, August 5, 2026. The company will subsequently host a live conference call and webcast to discuss the financial results on Thursday, August 6, 2026, at 11 a.m. EDT. Investors can register to participate by phone or access a listen-only webcast.

Black Hills Corp. announced the release of its 2025 Corporate Sustainability Report, showcasing significant progress in emissions reduction and strategic infrastructure investments. The company achieved a 43% reduction in electric utility emissions intensity compared to 2005 and a 25% reduction in natural gas utility emissions since 2022. Black Hills also invested approximately $900 million in system improvements and delivered an estimated $1.65 billion in direct economic impact, reinforcing its commitment to a sustainable energy future.

Black Hills Corp.'s Colorado electric utility has filed a rate review application with the Colorado Public Utilities Commission, seeking $26.7 million in new annual revenue. This request aims to recover approximately $184 million in capital infrastructure and operational costs incurred since its last rate review, including 2024 additions to enhance reliability and strengthen the electric grid. The company proposes a capital structure of 51.02% equity and 48.98% debt, targeting a 10.5% return on equity, with new rates expected in Q1 2027.

Black Hills Corp. provided an update on its proposed 1.8-gigawatt data center project in Cheyenne, Wyoming. The company confirmed the project is still progressing as planned for service to begin in early 2028, despite Crusoe no longer being the development partner. Black Hills remains committed to the project, with the customer having provided over $200 million in refundable contributions for generation equipment and agreements in place for generation equipment and substation development.

Black Hills Corporation provided an update on its pending all-stock merger with NorthWestern Energy Group, which will result in a combined entity named Bright Horizon Energy Corporation. The merger, unanimously approved by both boards and shareholders, is progressing with regulatory approvals, including settlement agreements reached in Nebraska, Montana, and South Dakota, with an anticipated closing in the second half of 2026. The filing also included NorthWestern's Q1 2026 financials, showing a net income of $63.46 million, and pro forma combined financials for the merged entity.

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.

Black Hills Corp. reaffirmed its 2026 adjusted earnings guidance of $4.25 to $4.45 per share, excluding merger-related costs. The company reported Q1 2026 GAAP EPS of $1.73 and adjusted EPS of $1.79, both lower than Q1 2025, primarily due to mild weather, higher financing and depreciation costs, partially offset by new rates and lower operations and maintenance expenses. Strategic progress includes shareholder approval for the merger with NorthWestern Energy, an agreement for a 1.8 GW data center project in Wyoming, and new wildfire liability legislation in South Dakota.