BLACK HILLS CORP /SD/
For the period ended Dec 31, 2025. Filed Feb 11, 2026.
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FY2025 · Filed Feb 11, 2026
BKH$87.04+0.8%Stored close · as of Nov 10, 2026
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Consolidated Statements of Income
| December 31, 2025 | December 31, 2024 | December 31, 2023 | |
|---|---|---|---|
| (in millions, except per share amounts) | |||
| Revenue | $2,310.0 | $2,127.7 | $2,331.3 |
| Operating expenses: | |||
| Fuel, purchased power and cost of natural gas sold | 831.5 | 730.3 | 982.9 |
| Operations and maintenance | 589.8 | 557.0 | 552.0 |
| Depreciation and amortization | 283.8 | 270.1 | 256.8 |
| Taxes other than income taxes | 67.4 | 67.2 | 66.9 |
| Total operating expenses | 1,772.5 | 1,624.6 | 1,858.6 |
| Operating income | 537.5 | 503.1 | 472.7 |
| Other income (expense): | |||
| Interest expense incurred net of amounts capitalized | (206.9) | (195.2) | (180.0) |
| Interest income | 6.8 | 13.5 | 12.1 |
| Other income (expense), net | 6.1 | (1.4) | (3.2) |
| Total other income (expense) | (194.0) | (183.1) | (171.1) |
| Income before income taxes | 343.5 | 320.0 | 301.6 |
| Income tax (expense) | (43.7) | (36.3) | (25.6) |
| Net income | 299.8 | 283.7 | 276.0 |
| Net income attributable to non-controlling interest | (8.2) | (10.6) | (13.8) |
| Net income available for common stock | 291.6 | $273.1 | $262.2 |
| Earnings per share of common stock: | |||
| Earnings per share, Basic | 3.99 | 3.91 | $3.91 |
| Earnings per share, Diluted | 3.98 | 3.91 | $3.91 |
| Weighted average common shares outstanding: | |||
| Basic | 73.0 | 69.8 | 67.0 |
| Diluted | 73.2 | 69.9 | 67.1 |
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