Welcome to our dedicated page for BLACK HILLS /SD/ SEC filings (Ticker: BKH), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
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Insider restricted stock grant recorded for Black Hills Corporation (BKH). Donald Lee Redden Jr., identified as a company officer (CITO) and director, is shown acquiring 5,268 shares of common stock via a restricted stock grant under the company’s Incentive Compensation Plan on 08/01/2025. The filing reports those 5,268 shares as held directly following the transaction. The Form 4 was signed and submitted on 08/21/2025 by Travis Frederickson. No derivative transactions or additional securities classes are reported in this filing.
Form 3 filed for Black Hills Corporation (BKH) shows that Donald Lee Redden Jr., listed as a Director and Chief Information Technology Officer, reported an event dated 07/21/2025. The filing discloses zero shares of Common Stock beneficially owned and no derivative securities. The form is signed by Travis Frederickson on 08/20/2025. Address on file is P.O. BOX 1400, Rapid City, SD 57709.
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.
BKH’s Q2 2025 results showed solid top-line and earnings growth. Revenue rose 9% year-over-year to $439 million, lifting operating income 17% to $82.5 million. Net income available to common stock climbed 21% to $27.5 million ($0.38 diluted EPS vs $0.33).
For the first half, revenue increased 10% to $1.24 billion and net income grew 7% to $161.7 million ($2.24 diluted EPS). Higher retail sales at both Electric and Gas Utilities plus larger transportation volumes drove the gains; operating margin held at 23%. Interest expense, however, continued to pressure results, up 8% year-to-date to $101.6 million.
Liquidity remains adequate: operating cash flow was $416 million (-10% YoY) against $372 million of capex, while the $750 million revolver maturity was extended to 2030. Long-term debt declined to $3.95 billion (-7% since year-end) but $300 million matures within 12 months; leverage stands near 59% of capital. The company issued $84 million of equity through ATM programs.
Regulatory momentum is favorable. CPUC approved a $17.5 million Colorado Electric rate hike effective March 2025; KCC okayed a $10.8 million Kansas Gas settlement effective Aug 2025; Nebraska Gas filed for $34.9 million, with interim rates expected in Aug 2025. Regulatory assets tied to Winter Storm Uri fell to $64.9 million (-41% YTD).