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) Q1 Earnings Decline Y/Y, Revenues Up
Read MoreHide Full Article
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.
MDU Resources Group Inc Price, Consensus and EPS Surprise
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.
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 >>
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
MDU Resources (MDU) Q1 Earnings Decline Y/Y, Revenues Up
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.
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
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 >>