Black Hills Corporation

Black Hills Corp reaffirmed its 2026 adjusted EPS guidance of $4.25 to $4.45, representing 6% growth at the midpoint, and expects to deliver in the upper half of its 4% to 6% long-term growth target. The company reported second-quarter adjusted EPS of $0.54, up from $0.38 a year earlier, driven by $0.21 per share from new rates and rider recovery. Its large load demand pipeline exceeds 3 gigawatts, with 600 megawatts already in the financial plan and over 2.5 gigawatts of additional opportunities under active negotiation, including a 1.8 gigawatt data center project in advanced talks. The pending merger with Northwestern Energy has received six of seven required approvals, with a decision in Montana expected by mid-October to mid-November. Black Hills also maintains strong liquidity of over $650 million under its revolving credit facility and a 56-year track record of consecutive dividend increases.

Black Hills Corp. announced that its board of directors declared a quarterly dividend on the common stock at a meeting held July 28, 2026. Common shareholders of record at the close of business on August 17, 2026, will receive $0.703 per share, payable September 1, 2026. The company also confirmed it will release its 2026 second-quarter earnings after the market closes on Wednesday, August 5, 2026, and will host a live conference call and webcast at 11 a.m. Eastern Daylight Time on Thursday, August 6, 2026, to discuss the financial results.

Black Hills, a Dividend King utility with over 50 years of consecutive dividend increases, is an under-the-radar buy as electricity demand is projected to surge 60% between 2025 and 2045. The company plans to merge with Northwestern Energy, nearly doubling its size and lifting combined earnings growth to 5% to 7% annually. Black Hills offers a 3.8% dividend yield, well above the 2.6% utility average, and provides exposure to rising power needs driven by AI and data centers. While larger rival NextEra Energy is acquiring Dominion Energy, Black Hills remains a smaller but reliable income play with a growth catalyst.

Black Hills Corp. announced the release of its 2025 Corporate Sustainability Report, highlighting a 43% reduction in electric utility emissions intensity compared to 2005 and a 25% reduction in natural gas utility emissions since 2022. The company completed the 260-mile Ready Wyoming transmission expansion project and invested approximately $900 million in system improvements and maintenance. It delivered an estimated $1.65 billion in direct economic impact across its service areas and advanced carbon capture and hydrogen initiatives at the Neil Simpson Complex. Energy efficiency programs helped conserve more than 13 million kilowatt-hours of electricity and 295,000 dekatherms of natural gas. The report also details the launch of a Public Safety Power Shutoff program and expanded weather monitoring capabilities.