Back to top

MDU Resources' (MDU) Q2 Earnings & Revenues Miss Estimates

Read MoreHide Full Article

MDU Resources Group Inc. (MDU - Free Report) reported second-quarter 2018 operating earnings of 22 cents per share, missing the Zacks Consensus Estimate of 28 cents by 21.43%. Operating earnings were in line with the year-ago quarter’s level.

Total Revenues

Total revenues were $1,064.6 million, down 0.3% from $1,067.6 million in the year-ago quarter.

Highlights of the Release

In the quarter under review, operating expenses amounted to $990.6 million, up 0.2% from $988.9 million in the prior-year quarter.

Operating income was $74 million, down 6%.

The company incurred interest expense of $20.8 million, in line with the prior-year quarter’s level.

MDU Resources had a combined backlog of $1.62 billion of work in the construction services and construction materials businesses at the end of the second quarter.

Company’s operating revenues from the electric, natural gas distribution and regulated pipeline and midstream segment inched up 0.5% to $226.7 million. However, revenues from the nonregulated pipeline and midstream, construction materials and contracting, construction services and other segment declined 0.5% to $837.9 million.

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

Financial Highlights

Total debt was $1,853 million as of Jun 30, 2018, up from $1,761 million as of Jun 30, 2017.

The company’s net cash flow from operating activities at the end of Jun 30, 2018 was $176.6 million, up from $139.5 million at the end of Jun 30, 2017.

Guidance

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

The company plans to invest $672 million toward capital projects in 2018 and the consolidated capex plan for 2018 to 2022 period is $2,375 million.

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.

Utility Releases

ONEOK Inc (OKE - Free Report) posted second-quarter 2018 operating earnings of 68 cents per share, beating the Zacks Consensus Estimate of 67 cents

American Electric Power (AEP - Free Report) reported second-quarter 2018 adjusted earnings per share  of $1.01, beating the Zacks Consensus Estimate of 88 cents per share by 14.8%.

NextEra Energy (NEE - Free Report) reported second-quarter 2018 adjusted earnings of $2.11 per share, beating the Zacks Consensus Estimate of $2.07 by 1.93%.

Today's Stocks from Zacks' Hottest Strategies

It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.

And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.

See Them Free>>



More from Zacks Analyst Blog

You May Like