BLACK HILLS CORP /SD/ — Form 8-K
Filed November 4, 2026 · analyzed by the 8-K Agent
8-K
▲ Likely positive
significance 72/100
What the filing says
Black Hills Corp. (market cap ~$4.1B) reported Q3 2026 adjusted EPS of $0.57 vs. $0.45 prior year and reaffirmed full-year 2026 adjusted EPS guidance of $4.25–$4.45. The company executed definitive agreements with Google to serve a planned Wyoming data center through 2048, investing $1.8B in 564 MW of generation and managing 2.1 GW of third-party resources. Google earnings are expected to begin mid-2027 and reach ~$150M net income by 2030. The company also requested $686M in transmission expansion certificates. Separately, rate approvals in South Dakota Electric ($27.4M new annual revenue) and Arkansas Gas ($17.9M new annual revenue) were approved. The NorthWestern Energy merger (all-stock) awaits final Montana PSC approval for expected year-end 2026 close.
Why this rating
Google contract + $2.5B capex = ~61% of current market cap, material growth upside. Merger adds scale. Rate approvals routine. Guidance reaffirmed.
Price action (we called it positive)
before filing · preread $84.19 | at our read pending | +10 min pending | +30 min pending | +1 hr pending | +4 hrs pending |
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