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MDU Resources (MDU) Up 14.2% Since Last Earnings Report: Can It Continue?
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A month has gone by since the last earnings report for MDU Resources (MDU - Free Report) . Shares have added about 14.2% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is MDU Resources due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.
MDU Resources Q1 Earnings Decline Y/Y, Revenues Up
MDU Resources 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.
How Have Estimates Been Moving Since Then?
Analysts were quiet during the last two month period as none of them issued any earnings estimate revisions.
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MDU Resources (MDU) Up 14.2% Since Last Earnings Report: Can It Continue?
A month has gone by since the last earnings report for MDU Resources (MDU - Free Report) . Shares have added about 14.2% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is MDU Resources due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.
MDU Resources Q1 Earnings Decline Y/Y, Revenues Up
MDU Resources 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.
How Have Estimates Been Moving Since Then?
Analysts were quiet during the last two month period as none of them issued any earnings estimate revisions.