Black Hills (BKH) Operating Expenses (2009 - 2026)

Black Hills has disclosed Operating Expenses across 18 years of filings, most recently posting $578.8 million for Q1 2026.

• In Q1 2026, Operating Expenses fell 3.57% year-over-year to $578.8 million; the TTM figure through Mar 2026 stood at $1.8 billion (up 3.49% YoY), while the FY2025 annual figure was $1.8 billion, up 9.1% from the prior year.
• Operating Expenses improved to $578.8 million in Q1 2026, from $464.1 million in the prior quarter.
• Over the last five years, Operating Expenses for BKH reached as high as $746.3 million in Q1 2023 and fell as low as $309.3 million in Q3 2023.
• The 5-year median for Operating Expenses is $433.8 million (2024), against an average of $466.5 million.
• Annual changes were most pronounced in 2022 — Operating Expenses jumped 47.46% — and 2023, when it slumped 31.18%.
• A 5-year view of Operating Expenses shows it stood at $661.4 million in 2022, then slumped by 31.18% to $455.2 million in 2023, then retreated by 4.7% to $433.8 million in 2024, then advanced by 6.98% to $464.1 million in 2025, then rose by 24.71% to $578.8 million in 2026.
• According to Business Quant data, Operating Expenses over the past three periods registered $578.8 million, $464.1 million, and $351.5 million for Q1 2026, Q4 2025, and Q3 2025 respectively.