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MDU Resources (MDU) Q3 Earnings Lag, Revenues Top Estimates
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MDU Resources Group Inc. (MDU - Free Report) reported third-quarter 2017 operating earnings of 46 cents per share, missing the Zacks Consensus Estimate of 50 cents by 8%.
However, reported earnings increased 8.3% from the year-ago tally of 33 cents. The increase can be attributed to earnings that were up 82% at construction services. This reflects continued demand for high-tech work, stronger equipment sales, and emergency power line repair work in hurricane-ravaged areas in the company’s territory.
Total Revenue
MDU Resources’ total revenues for the reported quarter was $1,272.5 million, surpassing the year-ago figure of $1,208.6 million by 5.3%.
Quarterly Highlights
In the quarter under review, MDU Resources’ operating expenses amounted to $1,116.1 million, up 5.1% from $1,061.9 in the prior-year quarter.
Operating income came in at $156.4 million in the third quarter, up 6.6%.
The company incurred interest expense of $20.9 million, compared with $22.3 million in third-quarter 2016.
Financial Condition
Total debt was $1,741 million as of Sep 30, 2017, down from $1,902 million as of Sep 30, 2016.
The company’s cash flow from operating activities as of Sep 30, 2017 was $272 million, down from $276 million in the year-ago period.
Guidance
MDU Resources has narrowed 2017 earnings per share guidance from $1.10–$1.25 as declared in the second-quarter to the range of $1.10-$1.20.
Capital expenditure in 2017 has been trimmeddown to $492 million from $515 million, declared in the second quarter.
MDU Resources Group, Inc. Price, Consensus and EPS Surprise
NextEra Energy, Inc. (NEE - Free Report) reported third-quarter 2017 adjusted earnings of $1.85 per share, beating the Zacks Consensus Estimate of $1.75 by 5.7%.
Dominion Energy Inc. (D - Free Report) reported third-quarter 2017 operating earnings of $1.04 per share, beating the Zacks Consensus Estimate by a penny.
Exelon Corporation (EXC - Free Report) reported third-quarter 2017 operating earnings of 54 cents per share, beating the Zacks Consensus Estimate of 52 cents by 3.9%.
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MDU Resources (MDU) Q3 Earnings Lag, Revenues Top Estimates
MDU Resources Group Inc. (MDU - Free Report) reported third-quarter 2017 operating earnings of 46 cents per share, missing the Zacks Consensus Estimate of 50 cents by 8%.
However, reported earnings increased 8.3% from the year-ago tally of 33 cents. The increase can be attributed to earnings that were up 82% at construction services. This reflects continued demand for high-tech work, stronger equipment sales, and emergency power line repair work in hurricane-ravaged areas in the company’s territory.
Total Revenue
MDU Resources’ total revenues for the reported quarter was $1,272.5 million, surpassing the year-ago figure of $1,208.6 million by 5.3%.
Quarterly Highlights
In the quarter under review, MDU Resources’ operating expenses amounted to $1,116.1 million, up 5.1% from $1,061.9 in the prior-year quarter.
Operating income came in at $156.4 million in the third quarter, up 6.6%.
The company incurred interest expense of $20.9 million, compared with $22.3 million in third-quarter 2016.
Financial Condition
Total debt was $1,741 million as of Sep 30, 2017, down from $1,902 million as of Sep 30, 2016.
The company’s cash flow from operating activities as of Sep 30, 2017 was $272 million, down from $276 million in the year-ago period.
Guidance
MDU Resources has narrowed 2017 earnings per share guidance from $1.10–$1.25 as declared in the second-quarter to the range of $1.10-$1.20.
Capital expenditure in 2017 has been trimmeddown to $492 million from $515 million, declared in the second quarter.
MDU Resources Group, Inc. Price, Consensus and EPS Surprise
MDU Resources Group, Inc. Price, Consensus and EPS Surprise | MDU Resources Group, Inc. Quote
Peer Releases
NextEra Energy, Inc. (NEE - Free Report) reported third-quarter 2017 adjusted earnings of $1.85 per share, beating the Zacks Consensus Estimate of $1.75 by 5.7%.
Dominion Energy Inc. (D - Free Report) reported third-quarter 2017 operating earnings of $1.04 per share, beating the Zacks Consensus Estimate by a penny.
Exelon Corporation (EXC - Free Report) reported third-quarter 2017 operating earnings of 54 cents per share, beating the Zacks Consensus Estimate of 52 cents by 3.9%.
Zacks Rank
MDU Resources carries a Zacks Rank #2 (Buy).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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