MDU Resources (MDU) Reports Preliminary Q1 Below Consensus; Reaffirms FY12 Outlook

MDU Resources Group, Inc. (NYSE: MDU) announced preliminary unaudited financial results for the first quarter of 2012 of approximately 19 cents per share, at the upper end of the first quarter earnings guidance range provided in February. (Consensus is $0.22)

President and CEO comments that the weather was warmer than normal along with pricing challenges.

CEO, Hildestad, noted that the company’s exploration and production business is on track to reach its 2012 targeted oil production increase of 20 percent to 30 percent over last year. Strong oil production growth during the latter part of the first quarter, primarily at Fidelity’s Bakken operations, helped drive the company’s overall oil production to approximately 10,500 barrels per day.

CEO reaffirms FY12 EPS range of $1.00 to $1.25. (Consensus is $1.22)

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