Black Hills

Q2 FY2026 EarningsQ2 FY26 results presented a significant beat on the bottom line despite a revenue miss. Revenue was $452.8M vs. $513.8M expected (-11.87%), primarily due to unfavorable weather impacting retail natural gas sales. However, Diluted EPS of $0.50 exceeded the consensus mean of $0.42 by 19.05%. The Electric Utilities segment was the primary driver of the beat, with operating income rising 24.7% YoY on the strength of the Ready Wyoming project and new rates, offsetting higher interest costs and merger-related expenses.