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Black Hills BKH Operating Income

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Segments

By segment

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Gas Utilities$146.5M-3.3%
Electric Utilities$59.9M+10.3%

Other financials

Income statement

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Revenue$780.7M-3.0%
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%

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 operating income?
Black Hills (BKH) reported operating income of $201.9M in Q1 2026.
How has Black Hills's operating income changed year-over-year?
Black Hills's operating income decreased by 1.5% year-over-year, from $205M to $201.9M.
What is the long-term trend for Black Hills's operating income?
Over 4 years (2021 to 2025), Black Hills's operating income has grown at a 7.0% compound annual growth rate (CAGR), from $409.4M to $537.6M.
What does operating income mean?
Gross profit minus all operating expenses (SG&A, R&D, D&A). Measures the profit from core business operations before interest, taxes, and non-operating items.