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Black Hills BKH Gas Utilities — Costs And Expenses Direct

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CMSGas Utility — Total Costs & Expenses
$911M+23.4%
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CMSGas Utility — Utilities Operating Expense
$911M+23.4%
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CMSGas Utility — Power supply cost
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SRUtilities Operating Expense Gas And Petroleum Purchased
$395.3M-6.5%
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CMSElectric Utility — Total Costs & Expenses
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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 bkh:CostsAndExpensesDirect.

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 gas utilities — costs and expenses direct?
Black Hills (BKH) reported gas utilities — costs and expenses direct of $40.4M in Q1 2026.
How has Black Hills's gas utilities — costs and expenses direct changed year-over-year?
Black Hills's gas utilities — costs and expenses direct decreased by 8.4% year-over-year, from $44.1M to $40.4M.
What is the long-term trend for Black Hills's gas utilities — costs and expenses direct?
Over 3 years (2022 to 2025), Black Hills's gas utilities — costs and expenses direct has grown at a 0.2% compound annual growth rate (CAGR), from $158.5M to $159.5M.
What does gas utilities — costs and expenses direct mean?
This metric captures the operating expenses directly attributable to the gas utility segment's daily operations, excluding fuel costs. It includes items such as maintenance, labor, and operational overhead specific to the gas distribution infrastructure.