Black Hills Corporation (BKH) Earnings History
Annual and quarterly earnings data from 1994 to 2025
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BKH EPS Growth (CAGR)
Compound annual growth rate of diluted earnings per share
CAGR (Compound Annual Growth Rate) shows the annualized growth rate of EPS over the specified period. A higher CAGR indicates stronger earnings momentum.
BKH Profitability Analysis
Margin trends over time
| Year | Gross Margin | Operating Margin | Net Margin |
|---|---|---|---|
| 2025 | 38.5% | 23.3% | 12.6% |
| 2024 | 39.5% | 23.6% | 12.8% |
| 2023 | 34.2% | 20.3% | 11.2% |
| 2022 | 30.3% | 17.8% | 10.1% |
| 2021 | 36.2% | 21.0% | 12.1% |
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Black Hills Corporation (BKH) Earnings Overview
As of May 8, 2026, Black Hills Corporation (BKH) reported trailing twelve-month net income of $155M, reflecting +1.8% year-over-year growth. The company earned $2.05 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 ($168M net income, 11.2% margin), AVA ($206M net income, 9.8% margin), OTTR ($280M 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% |
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Start ComparisonBKH — Frequently Asked Questions
Quick answers to the most common questions about buying BKH stock.
Is BKH growing earnings?
BKH EPS of $2.05 reflects slowing growth at +1.8%, below the 5-year CAGR of +1.7%. TTM net income is $155M. Expansion rate has moderated.
What are BKH's profit margins?
Black Hills Corporation net margin is +12.6%, with operating margin at +23.3%. Margins sit within typical range for the sector.
How consistent are BKH's earnings?
BKH earnings data spans 1994-2025. The current earnings trend is +1.8% YoY. Historical data enables comparison across business cycles.