• Black Hills Q1 2026 earnings call featured CEO Linden Evans, CFO Kimberly Nooney, Chief Utility Officer Marne Jones, IR Director Salvador Diaz; Q&A included Scotiabank Managing Director Andrew Weisel, Siebert Williams Shank Managing Director Chris Ellinghaus, Ladenburg Thalmann Managing Director Paul Fremont.
• Adjusted EPS $1.79 versus $1.87 year earlier; GAAP EPS $1.73 included $0.05 per share of merger-related transaction costs; unusually warm winter cut demand by $0.18 per share, including $0.13 per share versus normal weather assumption.
• Full-year adjusted EPS guidance reaffirmed at $4.25 to $4.45; management cited new rates and rider recovery, lower O&M, timing of capital spending as key levers to offset weather drag.
• Large-load pipeline flagged as major growth driver, with more than 3 GW of potential demand; financial plan assumes 600 MW by 2030, largely served via market energy procurement, with incremental generation and transmission spending expected if demand exceeds that level.
• For a prospective 1.8 GW Cheyenne data center, management disclosed a short-term generation reservation agreement tied to long-lead equipment; customer provided $201 million in refundable contributions in aid of construction, with utility-owned generation intended to be covered by a negotiated, risk-adjusted long-term contract rather than Wyoming retail rate base.
• Merger with NorthWestern Energy advanced with favorable shareholder votes April 2; Hart-Scott-Rodino waiting period expired April 20; settlements reached with certain interveners in Montana, Nebraska, South Dakota, with approvals still targeted in second half of 2026.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Black Hills Corporation published the original content used to generate this news brief on May 07, 2026, and is solely responsible for the information contained therein.