Here are the 8-K filings from Black Hills Corporation (BKH) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
An 8-K covers material events a company has to report between its quarterly reports, so if you follow BKH and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full BKH filings page.
Black Hills Corporation reported third-quarter 2026 revenue of $466.1 million, compared with $430.2 million a year earlier. Net income available for common stock was $41.0 million versus $24.9 million; diluted GAAP EPS was $0.54 versus $0.34, and adjusted EPS was $0.57 versus $0.45. For the first nine months, diluted GAAP EPS was $2.76 versus $2.58 and adjusted EPS was $2.89 versus $2.68.
Black Hills reaffirmed 2026 adjusted EPS guidance of $4.25 to $4.45, excluding merger-related costs. Under definitive agreements through 2048 to serve Google's planned Wyoming data center, the company plans to invest $1.8 billion in 564 MW of company-owned generation and manage 2.1 GW of third-party resources. Project earnings are expected to begin in mid- and late-2027, with net income of $150 million expected in 2030. The company requested Certificates of Public Convenience and Necessity for $686 million of transmission expansion investments.
South Dakota Electric's approved rate settlement provides $27.4 million in new annual revenue and a four-year base-rate moratorium through August 2030, absent an extraordinary event. Arkansas Gas's new rates provide $17.9 million in annual revenue and took effect October 12, 2026. The NorthWestern Energy merger remains subject to satisfactory final Montana regulatory approval and is expected to close by year-end 2026.
Black Hills Corporation announced a planned post-merger name and ticker change: if its proposed merger with NorthWestern Energy Group, Inc., doing business as NorthWestern Energy, receives satisfactory final regulatory approval from the Montana Public Service Commission and is completed, Black Hills will be renamed Bright Horizon Energy Corporation, and its common stock will trade on the NYSE under HZN. NorthWestern Energy would become a wholly owned subsidiary of Bright Horizon Energy.
The Montana Public Service Commission is expected to consider the merger prior to November 12, 2026, and completion remains subject to its satisfactory final regulatory approval. Shareholders need take no action for the name and ticker change. While the merger is pending, Black Hills shares continue trading as BKH on the NYSE and NorthWestern Energy shares as NWE on Nasdaq. The merger has received shareholder approvals from both companies, approvals from the Nebraska and South Dakota regulatory commissions and the Federal Energy Regulatory Commission, and clearance under the Hart-Scott-Rodino Act.
Black Hills Corp. announced definitive agreements, effective September 30, 2026, to serve Google’s planned data center in Cheyenne, Wyoming, under terms through 2048. Energy service is planned to begin in late 2027 and ramp to the project’s peak load in 2030. Black Hills will provide up to 590 MW of grid-connected service and manage approximately 2.1 GW of third-party contracted resources through a private microgrid.
Black Hills plans to invest $1.8 billion between 2027 and 2029 to build 564 MW of company-owned natural gas generation through a non-regulated affiliate. The project is expected to provide approximately $150 million of net income in 2030 and approximately $2.4 billion of unlevered free cash flow through 2048, net of $1.8 billion of generation capital investment. The agreements are structured so Google bears all costs of serving the project, without shifting them to existing retail customers. Google provided $399 million in refundable advances for long lead-time equipment, which Black Hills expects to reimburse by June 30, 2027.
Black Hills Corporation is advancing an all-stock merger of equals with NorthWestern Energy Group. Under the Merger Agreement, each share of NorthWestern common stock will convert into 0.98 shares of Black Hills common stock, implying estimated merger consideration of about $4.43 billion based on recent Black Hills share prices.
Regulatory and shareholder milestones are substantial: the SEC declared the joint Form S-4 effective, shareholders of both companies approved the merger, the Hart-Scott-Rodino waiting period expired, and approvals have been obtained from FERC, the Nebraska Public Service Commission, and the South Dakota Public Utilities Commission. Approval from the Montana Public Service Commission remains outstanding, and the companies anticipate closing by year-end 2026, subject to remaining conditions.
NorthWestern’s standalone results for the six months ended June 30, 2026 show $890.2 million in revenue and $88.5 million in net income. On a pro forma basis for the same period, the combined company would have generated $2.12 billion of revenue and $258 million of net income, with preliminary goodwill of about $1.81 billion recorded under acquisition accounting and estimated transaction-related costs of $25 million.
Black Hills Corp. reported higher second-quarter 2026 results, with net income available for common stock of $38.2 million and diluted EPS of $0.50, compared with $27.5 million and $0.38 a year earlier. Adjusted EPS increased to $0.54, excluding $0.04 per share of after-tax merger-related costs.
Revenue for the quarter was $452.8 million and operating income rose to $97.0 million, helped by new rates and rider recovery, partly offset by higher interest and depreciation. For the first half of 2026, net income available for common stock was $169.2 million and adjusted EPS was $2.33, compared with $161.7 million and $2.24 in 2025.
The company reaffirmed 2026 adjusted EPS guidance of $4.25 to $4.45, excluding merger-related costs and mark-to-market adjustments, and cited large-load growth in Wyoming, including a prospective 1.8 GW data center project backed by $377 million in refundable advances. A quarterly dividend of $0.703 per share marks 56 consecutive years of increases. A tax-free, all-stock merger with NorthWestern Energy is expected to close by year-end 2026, subject to remaining approval from the Montana Public Service Commission.
Black Hills Corporation filed an update to give investors detailed financial information about its pending all-stock merger with NorthWestern Energy Group. The filing adds NorthWestern’s latest quarterly financial statements and unaudited pro forma results showing how the two utilities would look as a combined company.
The Merger Agreement calls for each NorthWestern share to be exchanged for 0.98 Black Hills shares, with Black Hills treated as the accounting acquirer. Based on a recent Black Hills share price, the estimated merger consideration is about $4.55 billion, with a large portion recorded as goodwill under purchase accounting.
The pro forma combined income statements illustrate how revenue, earnings and earnings per share would have appeared if the merger had been completed earlier, but the company emphasizes these figures are preliminary, rely on assumptions and do not predict future performance. Completion of the merger still depends on multiple regulatory approvals and satisfaction of other closing conditions.
Black Hills Corp. reported first-quarter 2026 net income available for common stock of $131.0 million and diluted EPS of $1.73, down from $1.87 a year earlier, mainly reflecting mild winter weather and higher financing and depreciation costs. Adjusted EPS was $1.79 versus $1.87, excluding $0.05 per share of merger-related costs. Revenue was $780.7 million compared with $805.2 million in 2025, with weather reducing results by $0.18 per share but partially offset by new rates, riders, and lower operations and maintenance expenses.
The company reaffirmed 2026 adjusted EPS guidance of $4.25 to $4.45, based on normal weather, constructive regulatory outcomes, equity issuance of $50–$70 million, and an effective tax rate of about 14%. Black Hills highlighted progress on its tax-free, all-stock merger with NorthWestern Energy, including shareholder approvals, settlements with intervenors in multiple states, completion of the Hart-Scott-Rodino waiting period, and an expected closing in the second half of 2026, subject to remaining conditions. It also emphasized a growing data center pipeline of more than 3 GW, including a prospective 1.8 GW project in Wyoming backed by $201 million in refundable customer contributions to reserve generation equipment.
Operationally, Wyoming Electric served a new all-time peak load of 393 MW, marking 20 consecutive years of demand growth in the Cheyenne region. Construction continued on key projects, including the 99-MW, $280 million Lange II gas-fired generation facility in South Dakota and a 50-MW battery storage project in Colorado, along with a new power purchase agreement for up to 200 MW of solar energy. Multiple electric and gas utilities pursued rate reviews seeking new annual revenue in several states. The board declared a quarterly dividend of $0.703 per share, extending the company’s record to 56 consecutive years of dividend increases, and the company issued 0.6 million new common shares for net proceeds of $41 million under its at-the-market program.
Black Hills Corporation reported the results of its Annual Meeting of Shareholders held on April 29, 2026. Shareholders elected three Class II directors to serve until the 2029 annual meeting. Scott M. Prochazka received 58,581,725 votes for and 2,368,886 withheld; Teresa A. Taylor received 57,824,353 for and 3,126,258 withheld; and Anne G. Waleski received 60,223,646 for and 726,965 withheld, with 6,365,125 broker non-votes on each director.
Shareholders also approved ratification of Deloitte & Touche LLP as independent registered public accounting firm for 2026, with 66,181,234 votes for, 1,028,970 against, and 105,532 abstentions. In addition, on an advisory and non-binding basis, shareholders approved the compensation of the company’s named executive officers, with 59,589,296 votes for, 1,096,350 against, 264,965 abstentions, and 6,365,125 broker non-votes.
Black Hills Corporation reported that its shareholders approved key proposals supporting an all-stock merger with NorthWestern Energy Group, Inc., including issuing new common shares for the transaction. Investors also backed amendments to increase authorized shares from 100 million to 300 million and to change the company name to Bright Horizon Energy Corporation at closing.
Shareholders authorized raising the company’s borrowing capacity from $8 billion to $20 billion and approved, on an advisory basis, merger-related compensation for named executive officers. The merger remains subject to federal and state regulatory approvals, and the companies continue to expect closing in the second half of 2026.
Black Hills Corporation filed an 8-K to provide investors with detailed financial information tied to its pending all-stock merger of equals with NorthWestern Energy Group. The merger, unanimously approved by both boards, will make NorthWestern a wholly owned subsidiary of Black Hills under a new parent name, Bright Horizon Energy, if completed.
The filing includes NorthWestern’s audited financial statements and combined pro forma financials as exhibits. NorthWestern reported 2025 revenues of $1,610,559 thousand and net income of $181,092 thousand, with total assets of $8,459,691 thousand and long-term debt of $3,181,040 thousand as of December 31, 2025. Deloitte & Touche LLP issued unqualified opinions on both the financial statements and internal control over financial reporting.
Pro forma combined statements for Black Hills and NorthWestern are presented for illustrative purposes only and are not predictions of future results. The merger remains subject to shareholder approvals, clearance under the Hart-Scott-Rodino Act, Federal Energy Regulatory Commission approval, and approvals from key state regulatory commissions. A Form S-4 registering Black Hills shares to be issued in the merger is effective, and joint proxy materials have been mailed ahead of shareholder meetings scheduled for April 2, 2026.
Black Hills Corporation furnished an update on its recent performance by announcing that it issued a press release covering financial results for the fourth quarter of 2025. The company also prepared an investor presentation to support these results.
The press release dated Feb. 4, 2026 is included as Exhibit 99.1, and a related presentation dated Feb. 5, 2026 is included as Exhibit 99.2. This information is furnished under Item 2.02 as results of operations and financial condition and is not deemed filed for liability purposes under the Securities Exchange Act.
Black Hills Corporation furnished an 8-K announcing it issued a press release with financial results for the third quarter of 2025. The materials are provided under Item 2.02.
The company attached a press release as Exhibit 99.1 and an investor presentation as Exhibit 99.2. This information is furnished and not deemed “filed” under Section 18 of the Exchange Act.
Black Hills Corporation issued and sold $450 million of 4.550% Notes due 2031 on October 2, 2025. The company expects to use net proceeds, after offering costs, to repay, redeem or otherwise retire $300 million aggregate principal of its 3.950% notes due January 15, 2026, at or before maturity, with any remaining proceeds available for general corporate purposes including capital expenditures, acquisitions, investments and other debt repayment or refinancing. The Notes were issued under the company’s indenture as supplemented and are unsecured senior obligations that rank equally with existing and future unsecured unsubordinated indebtedness and senior to subordinated debt. Interest on the Notes is 4.550% per annum, payable semi-annually on January 31 and July 31, beginning January 31, 2026, and the stated maturity is January 31, 2031.
Black Hills Corporation announced an Underwriting Agreement to issue $450 million of 4.550% Notes due 2031, with aggregate gross proceeds of approximately $447.0 million after adjustments. The company and the underwriters have agreed to the sale, and issuance and settlement are scheduled for October 2, 2025, subject to customary closing conditions. The Underwriting Agreement is filed as Exhibit 1.1 and incorporated by reference into the company’s registration statement and prospectus materials.
Black Hills Corporation filed a current report to provide additional information on its pending all‑stock merger with NorthWestern Energy Group, Inc. The boards of both companies unanimously approved an Agreement and Plan of Merger under which NorthWestern will combine with Black Hills via a wholly owned merger subsidiary, subject to multiple conditions.
The filing adds four key exhibits: NorthWestern’s audited and unaudited historical financial statements, unaudited pro forma condensed combined financial statements for the two companies, and supplementary risk factors tied to the merger. The pro forma statements illustrate how a combined company might have looked if the merger had been completed as of January 1, 2024 for income statements and June 30, 2025 for the balance sheet, but Black Hills stresses that these are illustrative only and not projections.
Black Hills also explains that it plans to file a Form S‑4 registration statement to register the shares it will issue to NorthWestern stockholders, including a joint proxy statement/prospectus for both companies’ shareholder votes, and outlines extensive forward‑looking statement and merger‑related risks.
Black Hills Corporation (BKH) entered into a definitive all-stock merger agreement with NorthWestern Energy Group. Under the agreement, each outstanding share of NorthWestern will convert into the right to receive 0.98 shares of Black Hills (cash in lieu of fractional shares). The boards of both companies unanimously approved the transaction, which will result in NorthWestern continuing as the surviving entity and becoming a direct wholly owned subsidiary of Black Hills under a new parent name ("NewCo"). The agreement sets customary closing conditions, including required regulatory approvals, absence of injunctive orders, accuracy of representations, compliance with covenants, no material adverse effects, and a tax opinion supporting tax-free treatment. The Merger Agreement addresses treatment of equity awards (acceleration and conversion rules) and contemplates change-in-control treatment for outstanding awards. Separately, executive arrangements include a Chief Executive Officer Agreement preserving certain severance protections for Mr. Bird for three years post-closing and a Transition Agreement for Mr. Evans to remain CEO of Black Hills through the Effective Time with specified payments and accelerated vesting. Black Hills also amended its bylaws to remove a director age limit.
Black Hills Corporation filed a current report describing a major strategic step with NorthWestern Energy Group, Inc.. The companies released a joint press release announcing the execution of an agreement and plan of merger, along with an investor presentation explaining the proposed combination.
Both the press release and the investor presentation are being made available as exhibits to the report, giving investors more detail on the structure and rationale of the planned merger. The filing itself focuses on formally notifying the market that the merger agreement has been signed and that related disclosure materials are now publicly accessible.