Filing Flows › Black Hills (BKH) › Operating margin
Black Hills (BKH) operating margin by quarter
Black Hills' operating margin was 21.0% in Q3 2026 (third quarter 2026), -0.4 pts from Q2 2026. Over the last 7 quarters it ranged from 18.3% (Q3 2025) to 27.0% (Q4 2025).
| Quarter | Operating margin | Q/Q | Y/Y |
|---|---|---|---|
| Q3 2026 | 21.0% | -0.4 pts | +2.8 pts |
| Q2 2026 | 21.4% | -4.4 pts | +2.6 pts |
| Q1 2026 | 25.9% | -1.1 pts | +0.4 pts |
| Q4 2025 | 27.0% | +8.7 pts | — |
| Q3 2025 | 18.3% | -0.5 pts | — |
| Q2 2025 | 18.8% | -6.7 pts | — |
| Q1 2025 | 25.5% | — | — |
Q3 2026 at a glance
Black Hills, Q3 2026: revenue $466M (+8% year over year), operating margin 21.0%, net earnings $41.0M, operating cash flow $171M. The chart follows the revenue to costs, profit and cash.
Questions
What is Black Hills' operating margin?
Black Hills' operating margin was 21.0% in Q3 2026 (third quarter 2026), -0.4 pts from Q2 2026.
How has Black Hills' operating margin changed?
Over the last 7 quarters it ranged from 18.3% (Q3 2025) to 27.0% (Q4 2025).