BLACK HILLS CORP /SD/ — Form 8-K
Filed August 5, 2026 · analyzed by the 8-K Agent
8-K
▲ Likely positive
significance 42/100
What the filing says
Black Hills Corp. reported Q2 2026 adjusted EPS of $0.54 (vs. $0.38 in Q2 2025) and reaffirmed full-year 2026 adjusted EPS guidance of $4.25–$4.45, excluding merger costs. The company is progressing toward closing its all-stock merger with NorthWestern Energy (announced Aug. 2025), pending final Montana regulatory approval; 0.7 million shares issued YTD for $50M. Wyoming Electric recorded all-time peak load of 439 MW (16% above prior year) driven by data center demand; company is negotiating definitive agreements for a 1.8 GW data center project with $377M in customer advances as of July 2026.
Why this rating
Earnings beat and guidance maintenance are solid but routine. Merger closing is near (one approval away) but not transformational alone; data center pipeline (1.8 GW plus 600 MW existing) represents ~$4–5B capex opportunity, material but years away. Relative to $4.1B market cap, near-term impact is moderate.
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