BLACK HILLS CORP /SD/

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.

Black Hills Corp. reported Q1 2026 adjusted EPS of $1.79, down from $1.87 in Q1 2025, primarily due to mild winter weather and higher costs, partially offset by new rates. The company reaffirmed its 2026 adjusted EPS guidance of $4.25 to $4.45 per share, excluding merger-related costs. Significant progress was made on the merger with NorthWestern Energy, with shareholder approval and settlement agreements reached, and the company secured an agreement for a 1.8 GW data center project in Wyoming.

Black Hills Corp. announced a quarterly dividend of $0.703 per share, payable on June 1, 2026, to common shareholders of record as of May 15, 2026. The company also confirmed its 2026 first-quarter earnings release for May 6, 2026, after market close. A live conference call and webcast to discuss the financial results will be hosted on May 7, 2026, at 11 a.m. EDT.

Black Hills Corp. (BKH) announced it will release its first-quarter 2026 financial results after market close on Wednesday, May 6, 2026. Following the release, the company will host a live conference call and webcast on Thursday, May 7, 2026, at 11 a.m. EDT to discuss the financial performance and provide updates to investors. This announcement sets the timeline for stakeholders to anticipate and analyze the utility company's operational and financial health for the quarter, which serves 1.37 million customers across eight states.