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Black Hills BKH Electric Utilities — Operating Income

Other segment segments

Gas Utilities
$43.1M+21.4%

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Other financials

Income statement

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Revenue$452.8M+3.1%
Operating income$97.0M+17.6%
Net income$38.2M+38.9%
EPS (diluted)$0.50+31.6%

Balance sheet

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Cash & equivalents$71.5M+783%
Total debt$4.1B+0.2%
Total equity$3.9B+8.5%
Total assets$11.0B+9.4%

Cash flow

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Operating cash flow$195.1M+3.4%
CapEx$218.1M-0.4%
Free cash flow-$23.0M+24.1%

Valuation

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Market cap$5.54B+27.2%
Enterprise value$9.55B+13.4%
P/E18.5×+3.2×
P/S2.4×+0.5×

Profitability

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Operating margin23.9%+0.4pp
Net margin13%+0.3pp
FCF margin-13.3%-27.7pp

Returns & leverage

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Return on equity7.9%-0.2pp
Debt / equity-0.1×
Current ratio0.5×-0.1×

Where this comes from

Reported directly by Black Hills in its filing.

Tagged under the XBRL concept us-gaap:OperatingIncomeLoss.

The source filing: Black Hills’s 10-Q, filed August 6, 2026.

Filed
Aug 6, 2026, 1:21 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001193125-26-337444
Three Months Ended June 30, 2026Consolidating Income Statement / Electric UtilitiesConsolidating Income Statement / Gas UtilitiesConsolidating Income Statement / Total Reportable SegmentsConsolidating Income Statement / Corporate and OtherConsolidating Income Statement / Total
Depreciation and amortization40.934.475.375.3
Taxes other than income taxes9.17.416.516.5
Total operating expenses165.2187.4352.63.2355.8
Operating income (loss)$61.1$43.1$104.2$(7.2)$97.0
Interest expense, net(51.6)
Other income (expense), net0.2
Income tax (expense)(5.2)
Net income40.4

ITEM 1. FINANCIAL STATEMENTS

FAQ

What is Black Hills's electric utilities — operating income?
Black Hills (BKH) reported electric utilities — operating income of $61.1M in Q2 2026.
How has Black Hills's electric utilities — operating income changed year-over-year?
Black Hills's electric utilities — operating income increased by 24.7% year-over-year, from $49M to $61.1M.
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.

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