Overview

• Black Hills Q3 revenue missed analyst expectations, adjusted EPS exceeded estimates

• Company reaffirms 2025 adjusted earnings guidance, excluding merger-related costs

• Company advances key projects and regulatory filings, including merger with NorthWestern Energy

Outlook

• Black Hills reaffirms 2025 adjusted EPS guidance of $4.00 to $4.20 per share

• Company expects Ready Wyoming transmission project completion by year-end 2025

Result Drivers

• NEW RATES AND RIDER RECOVERY - Adjusted EPS benefited from new rates and rider recovery, offsetting higher costs and unfavorable weather

• TRANSMISSION EXPANSION - Completion of Ready Wyoming transmission expansion project expected by year-end, enhancing grid reliability

• MERGER PROGRESS - Filed joint applications for regulatory approval of merger with NorthWestern Energy in multiple states

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the multiline utilities peer group is "buy"

• Wall Street's median 12-month price target for Black Hills Corp is $67.00, about 3.6% above its November 4 closing price of $64.62

• The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 14 three months ago

Press Release: ID:nGNX3WMmKd

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)