Filing Flows › Black Hills (BKH) › Q3 2026 › vs Q2 2026
Black Hills (BKH) Q3 2026 vs Q2 2026 (quarter over quarter)
Black Hills's revenue rose $13.3M (+3%) from $453M in Q2 2026 to $466M in Q3 2026. Operating margin 21.0% against 21.4% (-0.4 pts).
Black Hills, Q3 2026: revenue $466M (+8% year over year), operating margin 21.0%, net earnings $41.0M, operating cash flow $171M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 21.0% | 21.4% | -0.4 pts |
| Net margin | 8.8% | 8.4% | +0.4 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Revenue | $466M | $453M | $13.3M | +3% |
| Operating profit | $98.1M | $97.0M | $1.1M | +1% |
| Costs & expenses | $368M | $356M | $12.2M | +3% |
| Pre-tax earnings | $49.3M | $45.6M | $3.7M | +8% |
| Other expense, net | $48.8M | $51.4M | −$2.6M | -5% |
| Net earnings | $41.0M | $38.2M | $2.8M | +7% |
| Minority interests | $2.5M | $2.2M | $300K | +14% |
| Income tax | $5.8M | $5.2M | $600K | +12% |
| Depreciation & amortization | $76.2M | $75.3M | $900K | +1% |
| Share-based compensation | $3.1M | $3.2M | −$100K | -3% |
| Working capital & other | $51.0M | $78.4M | −$27.4M | -35% |
| Operating cash flow | $171M | $195M | −$23.8M | -12% |
| Capital expenditures | $270M | $218M | $52.4M | +24% |
| Negative free cash flow (OCF − capex) | $99.2M | $23.0M | $76.2M | +331% |
Questions
How much did Black Hills's revenue grow quarter over quarter in Q3 2026?
Black Hills's revenue rose $13.3M (+3%) from $453M in Q2 2026 to $466M in Q3 2026. Operating margin 21.0% against 21.4% (-0.4 pts).