Black Hills Corporation filings document the formal disclosures of a South Dakota-based electric and natural gas utility with common stock listed on the New York Stock Exchange under BKH. Its SEC reports include Form 8-K updates on operating and financial results, rate-related regulatory matters, material agreements, debt obligations and other capital-structure events.
Proxy and shareholder-vote filings describe director elections, auditor ratification, executive compensation votes and governance matters. The filing record also covers registered common stock and exhibits such as earnings releases, investor presentations and financing documents.
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).