Black Hills Corporation (BKH) Financial Statements

Income statement

Metric	TTM	2025	2024	2023	2022
Revenue
Total Revenue	2.3B	2.3B	2.1B	2.3B	2.6B
Cost of Revenue	1.3B	1.4B	1.3B	1.5B	1.8B
Gross Profit	986.8M	888.7M	840.4M	796.4M	772.8M
Operating Expenses
R&D Expense	—	—	—	—	—
SG&A Expense	—	—	—	—	—
General & Admin Expense	—	—	—	—	—
Selling & Marketing Expense	—	—	—	—	—
Other Expenses	439.8M	351.2M	337.3M	323.7M	317.6M
Total Operating Expenses	439.8M	351.2M	337.3M	323.7M	317.6M
Cost and Expenses	1.8B	1.8B	1.6B	1.9B	2.1B
Operating Income (EBIT)	547.0M	537.5M	503.1M	472.7M	455.2M
Non-Operating
Interest Income	6.6M	6.8M	13.5M	12.1M	1.6M
Interest Expense	208.6M	206.9M	195.2M	180.0M	162.6M
Net Interest Income	(202.0M)	(200.1M)	(181.7M)	(167.9M)	(161.0M)
Other Non-Op Income/Expense	(195.0M)	(194.0M)	(183.1M)	(171.1M)	(159.2M)
Non-Operating Income (excl Interest)	(8.9M)	(6.1M)	(12.1M)	(8.9M)	(3.4M)
EBT (Pre-Tax Income)	352.0M	343.5M	320.0M	301.6M	296.0M
Income Tax Expense	44.0M	43.7M	36.3M	25.6M	25.2M
Bottom Line
Net Income	299.0M	291.6M	273.1M	262.2M	258.4M
Earnings from Cont. Ops	308.0M	299.8M	283.7M	276.0M	270.8M
Earnings from Discont. Ops	—	—	—	—	—
Bottom Line Net Income	299.0M	291.6M	273.1M	262.2M	258.4M
Per Share
Basic EPS	$3.98	$3.99	$3.91	$3.91	$3.98
Diluted EPS	$3.96	$3.98	$3.91	$3.91	$3.97
Revenue Per Share	$30.29	$31.64	$30.48	$34.80	$39.34
Shares
Basic Shares Outstanding	75.9M	73.0M	69.8M	67.0M	64.9M
Diluted Shares Outstanding	76.1M	73.2M	69.9M	67.1M	65.0M
Profitability Metrics
EBITDA	773.8M	827.4M	785.3M	738.4M	709.5M
D&A	217.9M	283.8M	270.1M	256.8M	250.9M
EBIT	555.9M	543.6M	515.2M	481.6M	458.6M

As reported, in the filing currency · TTM sums the four latest quarters; MRQ is the latest quarter · Negatives in parentheses; a dash is a line the filing does not carry · Data as of Jun 1, 2026