Black Hills Corp. (NYSE:BKH), a utility company serving customers across eight states, has reported its financial results for the fourth quarter and full year of 2025. The company's earnings release, which also included initial guidance for 2026, has drawn a measured response from investors in after-hours trading.
Earnings Performance Versus Estimates
The core financial metrics for the fourth quarter presented a mixed picture relative to Wall Street expectations.
- Q4 2025 Revenue: The company reported revenue of $635.5 million. This fell short of the analyst consensus estimate of approximately $654.7 million.
- Q4 2025 Adjusted EPS: Black Hills reported adjusted earnings per share (EPS) of $1.41. This was slightly below the analyst estimate of $1.42.
For the full 2025 fiscal year, the company reported GAAP EPS of $3.98 and adjusted EPS of $4.10. Management noted that the adjusted figure landed at the midpoint of its previously issued earnings guidance range, indicating the year concluded largely as planned.
Market Reaction and Price Action
Following the earnings announcement, shares of Black Hills Corp. experienced a modest uptick in after-market trading, rising approximately 0.35%. This muted positive movement suggests investors are digesting the slight earnings miss against the backdrop of the company meeting its full-year target and providing forward-looking guidance. The stock's performance over recent weeks has been relatively stable, with gains of about 2.2% over the past month.
Forward-Looking Guidance and Analyst Expectations
A key component of the earnings release was the initiation of formal earnings guidance for the 2026 fiscal year. Black Hills Corp. stated it expects 2026 adjusted EPS to fall within a range of $4.20 to $4.40. This outlook provides a benchmark against current analyst projections.
- 2026 Full-Year EPS Estimate: The company's guidance midpoint of $4.30 compares to the current analyst consensus estimate of $4.36 for the full year 2026.
- 2026 Full-Year Sales Estimate: Analysts are forecasting sales of approximately $2.42 billion for 2026.
- Q1 2026 Estimates: Looking to the immediate future, analysts project first-quarter 2026 revenue of about $790.9 million and EPS of $2.03.
The company's provided range sits just below the current analyst consensus, which may temper near-term earnings growth expectations but establishes a clear, achievable target for the year.
Press Release Summary
The announcement primarily served to communicate the 2025 financial results and set the stage for the coming year. The most important elements from the release are the confirmation that 2025 earnings met the company's expectations and the establishment of new financial guidance for 2026. By providing this outlook, management is offering investors a framework to assess the company's operational and financial trajectory over the next twelve months.
For a detailed breakdown of historical earnings, future estimates, and analyst revisions, readers can review the comprehensive data available on the BKH Earnings & Estimates page.
Disclaimer: This article is for informational purposes only and does not constitute financial advice, a recommendation, or an offer to buy or sell any security. Investors should conduct their own research and consult with a qualified financial advisor before making any investment decisions.
