tradingview.comNov 4$BKH

Black Hills Reports Q3 2026 Results, Adjusted EPS of $0.57

Black Hills reported Q3 2026 revenue of $466.1M, up from $430.2M YoY, with adjusted EPS of $0.57. The company reaffirmed its 2026 adjusted EPS guidance of $4.25-$4.45. It signed agreements to serve Google's data center in Cheyenne, Wyoming, and received approvals for transmission and rate projects.

Original reporting

tradingview.com

Published Nov 4, 2026, 10:28 PM UTC

Analysis

AlphAI AI DeskAI-generated

Added to AlphAI Nov 4, 2026, 10:36 PM UTC. Informational, not investment advice.

How this was made

AlphAI summarizes source reporting and applies a structured AI analysis for relevance, timing, sentiment and ticker impact. Always verify material claims with the original publisher.

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Black Hills Reports Q3 2026 Results, Adjusted EPS of $0.57 — source image — Source · tradingview.com

Decision brief

The 30-second read

$BKHNeutralMed

Why it matters

Earnings beat and reaffirmed guidance suggest stable cash flow, but execution of new projects will be key.

Market read

The earnings release provides fresh data for traders; the reaffirmed guidance limits upside, while new contract news adds a modest positive catalyst.

What to watch

Potential execution risk on the large Wyoming data‑center project and upcoming transmission expansions.

Relevance 7/10Novelty 8/10Timing: after-hours release

Background

Black Hills Corp (BKH) is a utility company focused on power generation and transmission, recently expanding into data‑center power supply.

Company-level read

Ticker impact

AI estimates · verify against primary disclosures

$BKHNeutralHigh confidence

Context

Black Hills Corp reported Q3 2026 earnings with revenue up 8% YoY and reaffirmed FY adjusted EPS guidance.

Expected impact

potential modest upside as market prices in the earnings beat and guidance reaffirmation

Evidence & confidence

Revenue and EPS both rose year‑over‑year and guidance remains unchanged, indicating stable performance.

Market effects

Sector

Positive for utility and power generation sector as Black Hills secures data‑center contracts.

Regional

May boost sentiment for energy providers in the Mountain West region.

Global

Limited to U.S. small‑cap utility space.

Counterpoint

What could challenge this read

If the market had already priced in the data‑center contract, the reaffirmed guidance could be seen as a lack of upside.

Key entities

company
Black Hills Corp
Utility company reporting Q3 2026 results.
company
Google
Customer for upcoming Wyoming data‑center power contract.

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Black Hills Corporation expects $150M in 2030 net income from Google data center deals, projecting $2.4B in unlevered free cash flow by 2048. The company reaffirmed 2026 EPS guidance of $4.25-$4.45 and aims for 4%-6% long-term EPS growth. Management highlighted strong Q3 operational and financial performance.

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Scotiabank raised its price target on Black Hills Corp (BKH) to $95 from $84, citing data center growth opportunities. The company's stock trades at $84.63 with a $6.45B market cap. Black Hills reported Q3 2026 EPS of $0.57, beating estimates, and expects $150M net income from a Google contract by 2030. The company also plans additional data center opportunities beyond its current projects.

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Black Hills Corp (BKH) reported Q3 2026 adjusted EPS of $0.57, up from $0.45 in Q3 2025. The company signed a deal to serve Google's Wyoming data center, representing a significant growth opportunity. BKH has a strong pipeline of large load projects and maintains solid financial health with $685M in liquidity. However, it faces regulatory uncertainty, higher costs, and a $400M debt maturity in 2027. The company reaffirmed its 2026 guidance of $4.25-$4.45 adjusted EPS.

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Black Hills (BKH) Q3 2026 Earnings Call Transcript

Black Hills (BKH) reported Q3 2026 adjusted EPS of $0.57, up from $0.45 in 2025, driven by new utility rates and favorable weather. Total revenue was $466.1 million, up from $430.2 million. The company announced a $1.8 billion Google data center project, expected to generate $150 million in annual net income by 2030.

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Google to build first Wyoming data center in $17 billion investment

Alphabet's Google plans a $17B data center in Wyoming, partnering with AEP, Black Hills Energy, and others. The facility will use air cooling and natural gas with carbon capture. AEP will invest $4B in a fuel cell plant, while Black Hills will invest $1.8B in natural gas generation. Google expects the project to generate local tax revenue and jobs, with operations starting in late 2027.

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