MDU Resources Group (MDU) Tops Q3 EPS by 1c, Revenues Miss; Offers FY18 EPS Outlook

MDU Resources Group (NYSE: MDU) reported Q3 EPS of $0.55, $0.01 better than the analyst estimate of $0.54. Revenue for the quarter came in at $1.28 billion versus the consensus estimate of $1.3 billion.

"We are pleased to report another strong quarter for MDU Resources, in which our companies performed well and continued to successfully execute on our growth strategy," said David L. Goodin, president and CEO of MDU Resources. "We ended the quarter with record combined revenues, earnings and backlog at our construction companies, a testament to our team\'s ability to capture projects and perform. In keeping with our strategy of acquiring well-run companies, earlier this month we announced our fourth construction materials acquisition of the year with the purchase of Sweetman Construction Co., a leading provider of aggregates, asphalt and ready-mix in the Sioux Falls market of South Dakota.

"We also continue to see solid results from our regulated businesses. Today we completed the purchase of an expansion to our Thunder Spirit Wind farm in southwestern North Dakota. With this expansion, renewables will make up approximately 27 percent of our total generation mix. We also finished and brought into service in mid-September our Line Section 27 pipeline project near Watford City, North Dakota. With natural gas production continuing at record levels in the Bakken, demand remains high for additional transportation capacity. Today, the company received approval from FERC to bring our Valley Expansion project into commercial operation on Nov. 1, providing much-needed gas capacity to eastern North Dakota."

GUIDANCE:

MDU Resources Group sees FY2018 EPS of $1.25-$1.45, versus the consensus of $1.39.

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

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