MDU Resources Group (MDU) Tops Q4 EPS by 2c, Revenues Beat; FY21 EPS Guidance Above Consensus

February 3, 2021 4:52 PM EST

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MDU Resources Group (NYSE: MDU) reported Q4 EPS of $0.56, $0.02 better than the analyst estimate of $0.54. Revenue for the quarter came in at $1.39 billion, versus $1.38 billion reported last year.

"This is the second-best earnings result in our 97-year history, and we are incredibly proud of our employees' dedication to Building a Strong America despite the challenges 2020 presented," said David L. Goodin, president and CEO of MDU Resources. "Our construction companies shattered earnings records, and our regulated energy businesses also had strong results. Our success during this tumultuous year further underscores the essential nature of our businesses. Our employees provide products and services that are critical to our customers and our country, and they strive to do so safely and regardless of the circumstances they may face.

"Starting 2021 off with a record combined backlog of work at our construction companies, many opportunities for electric and natural gas utility investments, and construction expected to begin soon on our largest-ever natural gas pipeline expansion project, we are well-positioned to continue growing. We anticipate earnings in the range of $1.95 to $2.15 per share in 2021."

GUIDANCE:

MDU Resources Group sees FY2021 EPS of $1.95-$2.15, versus the consensus of $1.91.

MDU Resources expects earnings per share in the range of $1.95 to $2.15 for 2021, based on these assumptions:

  • Normal weather, including precipitation and temperatures, across all company markets.
  • Continued recognition as essential service providers across all company markets.
  • Electric and natural gas customer growth continuing at a rate of 1-2% annually.
  • Earnings before interest, taxes, depreciation and amortization (EBITDA) in the range of $875 million to $925 million.
  • Construction materials revenues in the range of $2.1 billion to $2.3 billion and construction services revenues in the range of $2.1 billion to $2.3 billion, with margins comparable to or slightly higher than 2020.

The company plans to invest $826 million for capital projects in 2021; acquisitions or divestitures are not included in this amount and would be incremental to 2021 results.

For earnings history and earnings-related data on MDU Resources Group (MDU) click here.



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