$BKH

Black Hills Corp (BKH) reaffirmed 2026 adjusted EPS guidance of $4.25 to $4.45, citing new rates and rider recovery, large load demand growth, and its financial position. Management said its 1.8 GW data center negotiations are on track, with a generation reservation agreement offering up to $377 million in refundable customer advances. Montana merger decision is expected mid-October to mid-November.

Black Hills Corp reported 2Q 2026 revenue of $452.8M, up from $439M, and diluted EPS of $0.50 versus $0.38 a year earlier, with net income available to common of $38.2M versus $27.5M. The company cited improved electric and gas margins, large-load growth in Wyoming, and projects including Lange II (service expected Q4 2026) and a 50MW Colorado battery (by end-2027).

BLACK HILLS CORP /SD/ (BKH) filed an SEC Form 8-K — Results of Operations and Financial Condition. EX-99 2 bkh-ex99.htm EARNINGS RELEASE EX-99 Black Hills Corp. Reports 2026 Second-Quarter Results and Reaffirms 2026 Earnings Guidance • Reaffirms 2026 adjusted earnings guidance in the range of $4.25 to $4.45 per share, excluding merger-related costs • Served new all-time peak l

The article argues US electricity demand growth is accelerating, citing EIA data and grid-planner projections of a 4.7% national increase over five years versus 2.6% previously. It links demand to data centers and capex forecasts from Alphabet, Microsoft, and Meta. It highlights Digital Realty’s $400 million annual base rental income from new leases and Black Hills’ planned merger, $4.35 EPS target, and $2.81 annual dividend.

The article argues Montana faces risks from data centers and a proposed $15.4 billion merger between NorthWestern Energy and Black Hills Corp., which would require approval by the Montana Public Service Commission. It cites concerns by Commissioner Brad Molnar about consumer costs if data centers fail, and says Gov. Greg Gianforte suspended Molnar for a year.

350 Montana says suspended PSC Commissioner Brad Molnar should be allowed to participate in deliberations on a proposed Northwestern Energy and Black Hills merger. Gov. Greg Gianforte suspended Molnar for alleged inappropriate behavior. 350 Montana filed suit to overturn the suspension, citing process integrity. Northwestern and the PSC say procedures already cover missing commissioners.

The article says U.S. utility unpaid bills rose from about $15B in 2022 to $25B by 2025, with more electricity shutoffs, while AI-driven power demand increases. It highlights Dominion Energy (D) and NextEra Energy (NEE) and notes Virginia data-center area electricity prices rose over 260% (Bloomberg). It also discusses Black Hills (BKH) merging with NorthWestern (NWE) and power providers Constellation (CEG), Brookfield Renewable (BEP/BEP C), and Bloom Energy (BE).

The article says electricity demand is expected to rise 10% from 2005-2025 and 60% from 2025-2045, supporting utility growth. It highlights NextEra Energy’s planned acquisition of Dominion Energy. It also covers Black Hills (BKH) merging with Northwestern Energy (NWE), citing a projected earnings growth range and a 50+ year dividend increase.

Bank of America upgraded Black Hills Corp. (BKH) to Buy from Neutral and raised its price target to $78 from $76, citing expectations that BKH’s pending all-stock merger with NorthWestern Energy (NWE) will close. The bank said the deal could add scale, a stronger balance sheet, broader diversification, and more infrastructure opportunities, including Wyoming data centers and the Jade project.

Otto Robert P sold 4,109 shares of BLACK HILLS CORP /SD/ (BKH) at $74.22 ($0.30M total) on 2026-05-27.