We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
MDU Resources' (MDU) Earnings and Revenues Rise Y/Y in Q3
Read MoreHide Full Article
MDU Resources Group Inc. (MDU - Free Report) delivered third-quarter 2019 operating earnings of 68 cents per share. Operating earnings increased 23.6% from the year-ago quarter’s level. The upside was driven by exceptional performance in construction materials and services businesses.
Total Revenues
Total revenues in the third quarter amounted to $1,563.8 million, up 22.1% from $1,280.8 million in the year-ago quarter.
Operating revenues in the electric, natural gas distribution and regulated pipeline as well as the midstream segments increased 4.4% to $209.4 million. Revenues in the non-regulated pipeline and midstream, construction materials and contracting, construction services as well as other segments increased 25.4% to $1,354.4 million.
MDU Resources Group, Inc. Price, Consensus and EPS Surprise
Under pipeline business, Demicks Lake project started operation as scheduled in September.
In the third quarter, operating expenses amounted to $1,374.3 million, up 20.5% from the prior-year quarter’s figure of $1,140.8 million.
Operating income amounted to $189.5 million, up 35.4% year over year.
The company incurred interest expenses of $25.2 million, up from $21 million in the prior-year quarter.
At the end of third quarter, the construction services business had backlog of $1.2 billion, up 34% from $896 million in third quarter of 2018.
At the end of third quarter, the construction materials business had backlog of $747 million, up 27% from $590 million in 2018.
Financial Highlights
Total debt amounted to $2,387 million as of Sep 30, up from $1,915 million as of Sep 30, 2018.
The company’s net cash provided by operating activities in the first nine months of 2019 was $203.1 million compared with net cash provided by operating activities of $317.4 million in the year-ago period.
Guidance
MDU Resources narrowed its previously provided guidance for 2019 earnings per share (EPS), which was forecast in the range of $1.45-$1.60. The company currently expects 2019 EPS in the range of $1.50-$1.60, whose mid-point of $1.55 is higher than the current Zacks Consensus Estimate of $1.50.
ONEOK Inc (OKE - Free Report) reported third-quarter 2019 operating earnings of 74 cents per share, in line with the Zacks Consensus Estimate.
ONE Gas (OGS - Free Report) reported third-quarter 2019 earnings of 33 cents per share, which lagged the Zacks Consensus Estimate of 34 cents by 2.94%.
Upcoming Release
Sempra Energy (SRE - Free Report) is scheduled to release third-quarter 2019 results on Nov 1. The Zacks Consensus Estimate for earnings is pegged at $1.49.
Free: Zacks’ Single Best Stock Set to Double
Today you are invited to download our just-released Special Report that reveals 5 stocks with the most potential to gain +100% or more in 2020. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.
This pioneering tech ticker had soared to all-time highs and then subsided to a price that is irresistible. Now a pending acquisition could super-charge the company’s drive past competitors in the development of true Artificial Intelligence. The earlier you get in to this stock, the greater your potential gain. Download Free Report Now >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
MDU Resources' (MDU) Earnings and Revenues Rise Y/Y in Q3
MDU Resources Group Inc. (MDU - Free Report) delivered third-quarter 2019 operating earnings of 68 cents per share. Operating earnings increased 23.6% from the year-ago quarter’s level. The upside was driven by exceptional performance in construction materials and services businesses.
Total Revenues
Total revenues in the third quarter amounted to $1,563.8 million, up 22.1% from $1,280.8 million in the year-ago quarter.
Operating revenues in the electric, natural gas distribution and regulated pipeline as well as the midstream segments increased 4.4% to $209.4 million. Revenues in the non-regulated pipeline and midstream, construction materials and contracting, construction services as well as other segments increased 25.4% to $1,354.4 million.
MDU Resources Group, Inc. Price, Consensus and EPS Surprise
MDU Resources Group, Inc. price-consensus-eps-surprise-chart | MDU Resources Group, Inc. Quote
Highlights of the Release
Under pipeline business, Demicks Lake project started operation as scheduled in September.
In the third quarter, operating expenses amounted to $1,374.3 million, up 20.5% from the prior-year quarter’s figure of $1,140.8 million.
Operating income amounted to $189.5 million, up 35.4% year over year.
The company incurred interest expenses of $25.2 million, up from $21 million in the prior-year quarter.
At the end of third quarter, the construction services business had backlog of $1.2 billion, up 34% from $896 million in third quarter of 2018.
At the end of third quarter, the construction materials business had backlog of $747 million, up 27% from $590 million in 2018.
Financial Highlights
Total debt amounted to $2,387 million as of Sep 30, up from $1,915 million as of Sep 30, 2018.
The company’s net cash provided by operating activities in the first nine months of 2019 was $203.1 million compared with net cash provided by operating activities of $317.4 million in the year-ago period.
Guidance
MDU Resources narrowed its previously provided guidance for 2019 earnings per share (EPS), which was forecast in the range of $1.45-$1.60. The company currently expects 2019 EPS in the range of $1.50-$1.60, whose mid-point of $1.55 is higher than the current Zacks Consensus Estimate of $1.50.
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 Releases
ONEOK Inc (OKE - Free Report) reported third-quarter 2019 operating earnings of 74 cents per share, in line with the Zacks Consensus Estimate.
ONE Gas (OGS - Free Report) reported third-quarter 2019 earnings of 33 cents per share, which lagged the Zacks Consensus Estimate of 34 cents by 2.94%.
Upcoming Release
Sempra Energy (SRE - Free Report) is scheduled to release third-quarter 2019 results on Nov 1. The Zacks Consensus Estimate for earnings is pegged at $1.49.
Free: Zacks’ Single Best Stock Set to Double
Today you are invited to download our just-released Special Report that reveals 5 stocks with the most potential to gain +100% or more in 2020. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.
This pioneering tech ticker had soared to all-time highs and then subsided to a price that is irresistible. Now a pending acquisition could super-charge the company’s drive past competitors in the development of true Artificial Intelligence. The earlier you get in to this stock, the greater your potential gain.
Download Free Report Now >>