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MDU Resources (MDU) Q1 Earnings Top Estimates, Revenues Rise

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MDU Resources Group Inc. (MDU - Free Report) reported first-quarter 2018 operating earnings of 22 cents per share, beating the Zacks Consensus Estimate of 21 cents by a penny.

Operating earnings improved 22.2% from 18 cents in the year-ago quarter. The company’s utility and pipeline business delivered solid results. Revenues in the construction materials business ware higher than prior-year quarter’s level. The company’s results benefited on the back of milder weather conditions in the Northwest.

Total Revenues

Total revenues in the reported quarter were $976.3 million, up 4% from $937.9 million in the year-ago quarter.

MDU Resources Group, Inc. Price, Consensus and EPS Surprise

MDU Resources Group, Inc. Price, Consensus and EPS Surprise | MDU Resources Group, Inc. Quote

Highlights of the Release

In the quarter under review, operating expenses amounted to $906.9 million, up 4 % from $872.1 million in the prior-year quarter.

Operating income was $69.4 million, up 5.5%.

The company incurred interest expense of $20.5 million, up 1% from $20.3 million in first-quarter 2017.

Financial Highlights

Total debt was $1,780 million as of Mar 31, 2018, down from $1,703 million as of Mar 31, 2017.

The company’s net cash flow from operating activities was $106 million, down from $87 million in the year-ago quarter.

Guidance

MDU Resources reaffirmed 2018 guidance for earnings per share in the range of $1.25-$1.45.

The company plans to invest $631 million for capital projects in 2018

Zacks Rank

MDU Resources carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Other Gas Distribution Releases

ONEOK Inc. (OKE - Free Report) posted first-quarter 2018 operating earnings of 64 cents per share, beating the Zacks Consensus Estimate of 62 cents by 3.32%

Upcoming Peer Release

South Jersey Industries, Inc. is expected to report first-quarter 2018 results on May 8. The Zacks Consensus Estimate for earnings is pegged at 96 cents.

Chesapeake Utilities Corp. (CPK - Free Report) is expected to report first-quarter 2018 results on May 9. The Zacks Consensus Estimate for earnings is pegged at $1.34 per share.

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