Black Hills Corp Q4 2025 Earnings Call Highlights: Strong Growth Amid Rising Costs

Black Hills Corp reported Q4 2025 earnings with GAAP EPS of $3.98 and adjusted EPS of $4.10, a 5% increase from 2024. The company increased its dividend for the 56th consecutive year and maintained a strong investment-grade credit rating. However, it faced higher operating, financing, and depreciation expenses, and the merger with NorthWestern Energy is still pending regulatory approvals.