10-Q quarterly report · filed Nov 6, 2025

BLACK HILLS CORP /SD/ (BKH) Q3 2025 10-Q Quarterly Report

Short answer

BLACK HILLS CORP /SD/ (BKH) filed its Q3 2025 10-Q quarterly report on Nov 6, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $428M (up 7.2% year over year) with net income of $25M.

Q3 2025 key financials · XBRL

Revenue
$428M
+7.2% YoY · −1.9% QoQ
Net income
$25M
+2.0% YoY · −9.1% QoQ
Operating margin
18.4%
EPS (diluted)
$0.34
+3.0% YoY · −8.1% QoQ

Source: XBRL data from the BLACK HILLS CORP /SD/ (BKH) Q3 2025 10-Q on SEC EDGAR. USD.

BLACK HILLS CORP /SD/ Q3 2025 10-Q analysis

AI summary of MD&A and risk factor updates

Risk Factors

  • Newly added merger risk: Completion contingent on shareholder & regulatory approvals, including HSR Act and FERC, with possible adverse conditions or abandonment
  • Most materially updated risk: $100M termination fee triggered by board recommendation changes or new competing transaction agreements post-termination
  • Impactful legal risk: Potential antitrust litigation could delay or block the Merger, causing significant defense costs and possible adverse rulings
  • Operational risk: Management distraction and potential loss of key employees during Merger pendency may disrupt operations and integration efforts
  • Financial risk: Post-Merger combined company will carry substantial indebtedness, increasing default risk and cash flow diversion to debt service

Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K

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