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Black Hills BKH Electric Utilities — Operating Income

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$146.5M-3.3%

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Other financials

Income statement

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Revenue$780.7M-3.0%
Operating income$201.9M-1.5%
Net income$131.0M-2.5%
EPS (diluted)$1.73-7.5%

Balance sheet

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Cash & equivalents$23.6M+258%
Total debt$4.2B+5.8%
Total equity$3.9B+8.5%
Total assets$10.8B+7.5%

Cash flow

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Operating cash flow$176.2M-22.7%
CapEx$267.4M+74.9%
Free cash flow-$91.2M-222%

Valuation

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Market cap$5.54B+20.7%
Enterprise value$9.76B+13.4%
P/E19.2×+2.8×
P/S2.4×+0.3×

Profitability

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Operating margin23.4%+0.1pp
Net margin12.6%-0.1pp
FCF margin-13.7%-14.0pp

Returns & leverage

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Return on equity7.6%-0.4pp
Debt / equity1.1×0.0×
Current ratio0.6×-0.1×

Where this comes from

Reported directly by Black Hills in its filing.

Tagged under the XBRL concept us-gaap:OperatingIncomeLoss.

The official record: Black Hills’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Black Hills's electric utilities — operating income?
Black Hills (BKH) reported electric utilities — operating income of $59.9M in Q1 2026.
How has Black Hills's electric utilities — operating income changed year-over-year?
Black Hills's electric utilities — operating income increased by 10.3% year-over-year, from $54.3M to $59.9M.
What is the long-term trend for Black Hills's electric utilities — operating income?
Over 4 years (2021 to 2025), Black Hills's electric utilities — operating income has grown at a 2.4% compound annual growth rate (CAGR), from $202.7M to $222.5M.
What does electric utilities — operating income mean?
Calculated as total segment revenue minus all operating expenses, including fuel, direct costs, allocated overhead, and depreciation. This is the primary indicator of the electric utility segment's operational profitability and financial health.