Black Hills Corporation (BKH) Earnings History
Profitable32 years of earnings data (1994–2025) · Positive TTM net income
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Black Hills Corporation (BKH) Earnings Overview
As of November 8, 2026, Black Hills Corporation (BKH) reported trailing twelve-month net income of $315M, reflecting +1.8% year-over-year growth. The company earned $4.12 per diluted share over the past four quarters, with a net profit margin of 12.6%.
Looking at the long-term picture, BKH's 5-year EPS compound annual growth rate (CAGR) stands at +1.7%, reflecting modest earnings expansion. The company achieved its highest annual net income of $292M in fiscal 2025, representing a new all-time high.
Black Hills Corporation maintains positive profitability with a gross margin of 38.5%, operating margin of 23.3%, and net margin of 12.6%. The company continues to generate positive earnings from operations. View revenue history →
Compared to peers including NWE ($164M net income, 11.2% margin), AVA ($247M net income, 9.8% margin), OTTR ($176M net income, 21.2% margin), BKH has outperformed on profitability metrics. Compare BKH vs NWE →
BKH Earnings vs Peers
Earnings metrics vs comparable public companies
BKH Historical Earnings Data (1994–2025)
32 years| Fiscal Year | Net Income | YoY % | Operating Income | EPS (Diluted) | Net Margin | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $292M | +6.8% | $538M | $3.98 | 12.6% | 23.3% |
| 2024 | $273M | +4.2% | $503M | $3.91 | 12.8% | 23.6% |
| 2023 | $262M | +1.5% | $473M | $3.91 | 11.2% | 20.3% |
| 2022 | $258M | +9.2% | $455M | $3.97 | 10.1% | 17.8% |
| 2021 | $237M | +4.0% | $409M | $3.74 | 12.1% | 21.0% |
| 2020 | $228M | +14.2% | $428M | $3.65 | 13.4% | 25.2% |
| 2019 | $199M | -22.9% | $406M | $3.28 | 11.5% | 23.4% |
| 2018 | $258M | +46.0% | $397M | $4.66 | 14.7% | 22.6% |
| 2017 | $177M | +142.6% | $417M | $3.34 | 10.5% | 24.8% |
| 2016 | $73M | +327.2% | $336M | $1.37 | 4.7% | 21.8% |
| 2015 | -$32M | -124.5% | $300M | $-0.71 | -2.5% | 23.8% |
| 2014 | $131M | +11.5% | $264M | $2.93 | 9.4% | 18.9% |
| 2013 | $117M | +14.6% | $259M | $2.64 | 9.2% | 20.3% |
| 2012 | $102M | +106.0% | $276M | $2.32 | 8.7% | 23.5% |
| 2011 | $50M | -27.6% | $186M | $1.24 | 3.9% | 14.6% |
| 2010 | $69M | -15.8% | $183M | $1.76 | 5.6% | 15.0% |
| 2009 | $82M | -22.4% | $127M | $2.11 | 6.4% | 10.0% |
| 2008 | $105M | +6.4% | $56M | $2.75 | 10.4% | 5.6% |
| 2007 | $99M | +21.9% | $126M | $2.64 | 17.2% | 21.9% |
| 2006 | $81M | +142.4% | $102M | $2.42 | 14.9% | 18.8% |
| 2005 | $33M | -42.4% | $82M | $1.00 | 5.4% | 13.3% |
| 2004 | $58M | -5.3% | $129M | $1.76 | 13.0% | 28.9% |
| 2003 | $61M | -0.4% | $131M | $1.97 | 4.9% | 10.5% |
| 2002 | $61M | -30.2% | $113M | $2.26 | 6.8% | 12.4% |
| 2001 | $88M | +66.7% | $141M | $3.42 | 11.9% | 19.1% |
| 2000 | $53M | +42.4% | $115M | $2.37 | 3.3% | 7.1% |
| 1999 | $37M | +43.8% | $62M | $1.73 | 4.7% | 7.8% |
| 1998 | $26M | -20.4% | $49M | $1.19 | 3.8% | 7.3% |
| 1997 | $32M | +6.9% | $59M | $1.49 | 10.3% | 18.8% |
| 1996 | $30M | +18.4% | $54M | $1.40 | 18.6% | 33.4% |
| 1995 | $26M | +7.6% | $42M | $1.19 | 17.1% | 28.2% |
| 1994 | $24M | - | $39M | $1.11 | 16.4% | 26.7% |
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BKH — Frequently Asked Questions
Quick answers to the most common questions about buying BKH stock.
What is BKH earnings per share (EPS)?
BKH trailing twelve-month (TTM) diluted EPS is $4.12, reflecting +1.8% year-over-year growth. The 5-year EPS CAGR is +1.7%. Complete EPS history from 1994 to 2025 is available in the table on this page.
What is Black Hills Corporation's net income?
Black Hills Corporation (BKH) trailing twelve-month net income is $315M as of 2025. Earnings grew +1.8% year-over-year. Black Hills Corporation has been profitable for 10 consecutive years.
Is BKH profitable?
Yes, BKH is profitable with a TTM net income of $315M and a net profit margin of +12.6%. Black Hills Corporation has generated profits for 10 consecutive years.
What is BKH's earnings growth rate?
BKH compound annual EPS growth rates (CAGR): 1-Year: +1.8%, 3-Year: +0.1%, 5-Year: +1.7%, 10-Year: N/A. These figures measure the annualised rate of diluted EPS growth over each period, based on data from 1994 to 2025.
What are BKH's profit margins?
Black Hills Corporation net profit margin is +12.6%, operating margin is +23.3%, and gross margin is +38.5%. Margins are within a typical range for the sector. Return on Equity is +7.8%.
Is BKH growing earnings?
BKH earnings growth is slowing. Current YoY EPS growth of +1.8% trails the 5-year CAGR of +1.7%. TTM net income is $315M.
What was BKH's best earnings year?
Black Hills Corporation's highest annual net income on record is $292M, achieved in fiscal year 2025. Earnings history on this page spans 1994 to 2025 and includes all annual and quarterly figures.
What were BKH's earnings last quarter?
BKH's most recent reported quarter was Q3 2026. Net income was $41M with diluted EPS of $0.54. For a full breakdown of all quarters, see the quarterly earnings table on this page.