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Black Hills BKH Q2 2025 earnings

Reported July 30, 2025 · After market close

Revenue$439.0MMiss by $963.3K
EPS$0.38In line
Revenue estimate$440.0M
EPS estimate$0.38

Next report

Nov 4, 2026 (in 2 months)
Revenue estimate$517.6M
EPS estimate$0.51

Financials

Q2 2025

Income statement

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Revenue$439.0M+9.0%
Operating income$82.5M+16.9%
Net income$27.5M+20.6%
EPS (diluted)$0.38+15.2%

Balance sheet

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Cash & equivalents$8.1M-98.7%
Total debt$4.1B-4.0%
Total equity$3.6B+8.3%
Total assets$10.1B-0.9%

Cash flow

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Operating cash flow$188.6M-18.2%
CapEx$218.9M+31.7%
Free cash flow-$30.3M-147%

Valuation & ratios

Valuation

as of 06/30/25
See full
Market cap$4.12B+9.9%
Enterprise value$8.19B+11.1%
P/E14.5×+0.9×
P/S1.8×+0.1×

Profitability

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Operating margin23.5%+0.1pp
Net margin12.7%-0.3pp
FCF margin-4.5%-12.8pp

Returns & leverage

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Return on equity8.1%-0.4pp
Debt / equity1.1×-0.1×
Current ratio0.6×-0.4×

Segments

By segment

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Gas Utilities$223.0M+10.4%
Electric Utilities$219.9M+7.2%

FAQ

When did Black Hills report Q2 2025 earnings?
Black Hills (BKH) reported Q2 2025 earnings on July 30, 2025 after market close.
What were Black Hills's Q2 2025 revenue and EPS?
Black Hills reported revenue of $439.0M and eps of $0.38 for Q2 2025.
Did Black Hills beat estimates in Q2 2025?
Revenue missed the consensus estimate of $440.0M by $963.3K. EPS beat the consensus estimate of $0.38 by $0.00.
How did Black Hills's Q2 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 9.0% from $402.6M a year earlier and eps grew 15.2% from $0.33.
Where can I find Black Hills's Q2 2025 SEC filings?
You can read the 8-K earnings release (0000950170-25-100354) and the 10-Q periodic report (0000950170-25-100667) directly on SEC EDGAR. The filing index links above go to sec.gov.