MDU Resources Group Inc. (MDU - Free Report) delivered first-quarter 2020 operating earnings of 13 cents per share, which fell 38% from the year-ago quarter’s level. The downside was caused by lower investment returns, milder-than-normal weather at its utility operations and an adjustment on a construction contract.
Total Revenues
Total revenues in the first quarter were $1,197.4 million, up 9.7% from $1,091.2 million in the year-ago quarter.
Operating revenues in the electric, natural gas distribution and regulated pipeline as well as the midstream segments fell 4.7% to $418.7 million. Revenues in the non-regulated pipeline and midstream, construction materials and contracting, construction services as well as other segments increased 19.5% to $778.9 million.
Highlights of the Release
In the quarter under review, operating expenses amounted to $1,140.3 million, up 11% from the prior-year quarter’s figure of $1,027 million.
Operating income was $57.1 million, down 11% year over year.
The company incurred interest expenses of $24.6 million, up from $23.4 million in the prior-year quarter.
As of Mar 31, 2020, the construction services business had backlog of $1.27 billion, up 24.5% from the year-ago quarter’s tally.
The construction materials business had backlog of $905 million, down from a backlog of $943 million in the year-ago quarter.
Financial Highlights
Total debt amounted to $2,455 million as of Mar 31, 2020, up from $2,268 million as of March 31, 2019.
The company’s net cash flow from operating activities in the first three months of 2020 was $79.3 million, up from $1.5 million in the first three months of 2019.
Guidance
MDU Resources expects 2020 earnings per share (EPS) in the range of $1.50-$1.70, whose mid-point of $1.60 is in line with the current Zacks Consensus Estimate.
The company plans to invest $599 million through 2020-2024.
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 Utility Releases
National Fuel Gas Company (NFG - Free Report) posted second-quarter fiscal 2020 operating earnings of 97 cents per share, in line with the Zacks Consensus Estimate.
Sempra Energy’s (SRE - Free Report) first-quarter 2020 adjusted earnings per share (EPS) came in at $3.08, which surpassed the Zacks Consensus Estimate of $2.32 by 32.8%.
ONEOK Inc. (OKE - Free Report) posted first-quarter 2020 operating earnings of 83 cents per share, which beat the Zacks Consensus Estimate of 80 cents by 3.8%.
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MDU Resources Group Inc. (MDU - Free Report) delivered first-quarter 2020 operating earnings of 13 cents per share, which fell 38% from the year-ago quarter’s level. The downside was caused by lower investment returns, milder-than-normal weather at its utility operations and an adjustment on a construction contract.
Total Revenues
Total revenues in the first quarter were $1,197.4 million, up 9.7% from $1,091.2 million in the year-ago quarter.
Operating revenues in the electric, natural gas distribution and regulated pipeline as well as the midstream segments fell 4.7% to $418.7 million. Revenues in the non-regulated pipeline and midstream, construction materials and contracting, construction services as well as other segments increased 19.5% to $778.9 million.
Highlights of the Release
In the quarter under review, operating expenses amounted to $1,140.3 million, up 11% from the prior-year quarter’s figure of $1,027 million.
Operating income was $57.1 million, down 11% year over year.
The company incurred interest expenses of $24.6 million, up from $23.4 million in the prior-year quarter.
As of Mar 31, 2020, the construction services business had backlog of $1.27 billion, up 24.5% from the year-ago quarter’s tally.
The construction materials business had backlog of $905 million, down from a backlog of $943 million in the year-ago quarter.
Financial Highlights
Total debt amounted to $2,455 million as of Mar 31, 2020, up from $2,268 million as of March 31, 2019.
The company’s net cash flow from operating activities in the first three months of 2020 was $79.3 million, up from $1.5 million in the first three months of 2019.
Guidance
MDU Resources expects 2020 earnings per share (EPS) in the range of $1.50-$1.70, whose mid-point of $1.60 is in line with the current Zacks Consensus Estimate.
The company plans to invest $599 million through 2020-2024.
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 Utility Releases
National Fuel Gas Company (NFG - Free Report) posted second-quarter fiscal 2020 operating earnings of 97 cents per share, in line with the Zacks Consensus Estimate.
Sempra Energy’s (SRE - Free Report) first-quarter 2020 adjusted earnings per share (EPS) came in at $3.08, which surpassed the Zacks Consensus Estimate of $2.32 by 32.8%.
ONEOK Inc. (OKE - Free Report) posted first-quarter 2020 operating earnings of 83 cents per share, which beat the Zacks Consensus Estimate of 80 cents by 3.8%.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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