Black Hills stock gains after stronger Q3 earnings and guidance hold

Black Hills Corp. reported stronger third-quarter results on Wednesday, November 4, 2026, and reaffirmed its full-year adjusted earnings outlook. The company release said diluted GAAP earnings per share reached 0.54 US dollars, compared with 0.34 US dollars a year earlier. Adjusted earnings per share came to 0.57 US dollars, up from 0.45 US dollars.

Revenue rose to 466.1 million US dollars from 430.2 million US dollars. Black Hills said adjusted earnings benefited from 0.15 US dollars per share from new rates and rider recovery, as well as 0.06 US dollars from favorable weather. Higher operating, financing and depreciation costs related to capital investment and new assets partly offset those gains.

Guidance stays unchanged

Black Hills retained its 2026 adjusted earnings guidance of 4.25 to 4.45 US dollars per share, excluding merger-related costs. The pending combination with NorthWestern Energy remains expected to close by the end of 2026.

The utility also pointed to growth opportunities tied to large electricity loads. Black Hills has executed agreements to serve Google's planned data center and has requested regulatory approval for nearly 700 million US dollars of transmission investments. Earnings from the data-center agreement are expected to begin in 2027.

Shares trade on Lang & Schwarz

Black Hills stock traded at 75.93 euros on Lang & Schwarz at 11:00 p.m. CET on Wednesday, November 4, 2026. Investors should focus next on management's explanation of the results and the outlook for the pending transaction.

The real-time quote of Black Hills stock is available on the stock snapshot page.

Utility investment remains central

Black Hills is a US utility company with electric and natural-gas operations. Its current growth agenda combines regulated utility investment with new large-load opportunities, including the planned Google data center. The company is smaller and more regionally focused than diversified US utility groups such as NextEra Energy, Duke Energy and Southern Company, while emphasizing regulated infrastructure and selected growth projects.

US utility stocks remain sensitive to interest rates, regulation and the funding needs of large infrastructure projects. See current market reports for the broader market environment.

Further earnings commentary is expected during the company's conference call on Thursday, November 5. Read more news and analyses on Black Hills stock.