---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-017280"
form_type: "8-K"
ticker: "BKH"
cik: "0001130464"
company_name: "BLACK HILLS CORP /SD/"
filed_at: "2023-05-03T23:59:59+00:00"
generated_at: "2026-06-16T00:17:00.372714+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Black Hills Corp. Q1 2023 EPS $1.73, reaffirms FY2023 guidance $3.65-$3.85

## Summary
- Net income $114.1M ($1.73 diluted) vs $117.5M ($1.82) in Q1 2022.
- FY2023 EPS guidance reaffirmed $3.65-$3.85; assumes $615M capex and $140-$160M equity issuance.
- Sold Northern Iowa Windpower assets for $18.4M net proceeds, $0.09/sh gain.
- Issued $350M 5.95% senior notes due 2028; proceeds used to repay commercial paper.
- Approved Colorado Clean Energy Plan; expects to own up to 200MW of 400MW new renewables.

## SEC filing metadata
- accession: 0000950170-23-017280
- form_type: 8-K
- ticker: BKH
- cik: 0001130464
- company_name: BLACK HILLS CORP /SD/
- filed_at: 2023-05-03T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1130464/000095017023017280/0000950170-23-017280-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1130464/000095017023017280/bkh-20230424.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-017280
- JSON: https://secwatch.observer/filing/0000950170-23-017280.json
- Plain text: https://secwatch.observer/filing/0000950170-23-017280.txt

## Key facts
- Earnings Releases
  BLACK HILLS CORP /SD/ reported first quarter of 2023 results: net income $114.1, EPS $1.73. Guidance reaffirmed.
  - Period: first quarter of 2023
  - Net income: $114.1
  - EPS: $1.73
  - Guidance: reaffirmed
  - Result: reported results
  source text: Black Hills Corp. (NYSE: BKH) today announced financial results for the first quarter of 2023. Net income available for common stock and earnings per share for the three months ended March 31, 2023, compared to the three months ended March 31, 2022, was: Three Months Ended March 31, 2023 2022 (in millions, except per share amounts) Net income available for common stock $ 114.1 $ 117.5 Earnings per share, Diluted $ 1.73 $ 1.82 Earnings of $1.73 per share for the first quarter benefited from new rates and rider recovery, a planned gain on the sale of the Northern Iowa Windpower assets, customer growth, wholesale energy sales and favorable weather. Results reflected higher year-over-year operating expenses and interest expense, mark-to-market losses driven by lower natural gas prices and the impact from new shares issued. “Our team delivered solid operational and financial results for the quarter and advanced our regulatory and growth initiatives,” said Linn Evans, president and CEO of Bl
  evidence_url: https://www.sec.gov/Archives/edgar/data/1130464/000095017023017280/0000950170-23-017280-index.htm
- Governance Changes
  BLACK HILLS CORP /SD/: Amended and restated the bylaws effective immediately, including updates related to universal proxy rules, meeting conduct and adjournment, and conforming changes to South Dakota law (effective 2023-04-24).
  - Change: bylaw amendment
  - Effective: 2023-04-24
  source text: On April 24, 2023, the Company’s Board of Directors approved an amendment and restatement of the Company’s Amended and Restated Bylaws (as further amended and restated, the “Restated Bylaws”), effective immediately.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1130464/000095017023017280/0000950170-23-017280-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.