Recent Updates — BKH
Black Hills Corporation and NorthWestern Energy Group announced the planned name and ticker symbol for their combined entity, contingent on receiving final regulatory approval from the Montana Public Service Commission. If approved, Black Hills will become Bright Horizon Energy Corporation, trading under the ticker "HZN" on the NYSE, while NorthWestern becomes a wholly owned subsidiary. The transaction has already received shareholder approvals and clearances from other regulators. Black Hills Corp. is an energy utility company serving customers across eight states.
Black Hills Corp. executed definitive agreements to provide energy services for a planned Google data center in Cheyenne, Wyoming. The company will invest $1.8 billion between 2027 and 2029 to construct 564 MW of new natural gas generation at its existing Cheyenne Prairie Generating Station. Black Hills will supply up to 590 MW of grid-connected energy and manage approximately 2.1 GW of third-party contracted resources through a private microgrid. The project is expected to generate about $150 million in net income by 2030 and deliver roughly $2.4 billion in unlevered free cash flow through 2048, with Google bearing all associated costs. Black Hills Corp. operates as an energy utility company providing natural gas and electric services across eight states.
Black Hills Corporation filed an 8-K to provide historical financial statements of NorthWestern Energy Group and pro forma combined financial information related to their pending all-stock merger. The transaction, agreed upon on August 18, 2025, involves Black Hills acquiring NorthWestern at an exchange ratio of 0.98 shares of Black Hills common stock for each share of NorthWestern, valuing the consideration at approximately $4.4 billion. The combined entity will operate under the new name Bright Horizon Energy Corporation. Key conditions include regulatory approvals from state commissions and the Federal Energy Regulatory Commission. This filing discloses NorthWestern's Q2 2026 revenues of $392.6 million and pro forma combined revenue of $2.1 billion for the six months ended June 30, 2026. Black Hills Corporation operates in the electric and gas utility industry.
Black Hills Corporation reported second-quarter 2026 net income of $38.2 million, or diluted EPS of $0.50, compared to $27.5 million and $0.38 in the prior year period. Adjusted diluted EPS was $0.54, excluding $0.04 per share in merger-related costs associated with its pending all-stock acquisition of NorthWestern Energy. The company reaffirmed its 2026 adjusted earnings guidance range of $4.25 to $4.45 per share and noted progress toward definitive agreements for a 1.8 GW data center project in Wyoming, supported by $377 million in refundable advances. Additionally, Black Hills announced a quarterly cash dividend of $0.703 per share, payable on September 1, 2026, to shareholders of record as of August 17, 2026. The company operates in the electric and natural gas utility industry.