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MDU Resources Group, Inc. (NYSE: MDU) is a diversified energy and infrastructure company that plays a vital role in the U.S. economy. Founded in 1924, the company started as a small electric utility serving rural communities in Montana and North Dakota. Today, MDU Resources is a multibillion-dollar corporation providing essential products and services that support energy and transportation infrastructure across the country.
The company operates in five key segments:
- Electric: Generates, transmits, and distributes electricity in Montana, North Dakota, South Dakota, and Wyoming.
- Natural Gas Distribution: Distributes natural gas in the above states as well as Idaho, Minnesota, Oregon, and Washington.
- Pipeline: Offers natural gas transportation and underground storage services through a regulated pipeline system in the Rocky Mountain and Northern Great Plains regions of the U.S.
- Construction Services: Provides a broad range of construction services through its electrical, mechanical, and transmission and distribution specialty contracting services.
- Everus Construction Group: Recently rebranded and expected to spin off as an independent company, offering a full spectrum of construction services across the U.S.
MDU Resources is committed to delivering value-added natural resource products and related services that are vital to energy and transportation infrastructure. Some of the company's recent achievements include:
- Approval of the Wahpeton Expansion project by the Federal Energy Regulatory Commission, allowing for the construction and operation of a natural gas pipeline expansion in eastern North Dakota.
- Completion of a strategic plan to spin off MDU Construction Services Group, Inc., rebranded as Everus Construction Group, to create two independent, publicly traded companies.
- Record earnings from its pipeline and construction services businesses, demonstrating robust growth and performance.
The company's financial condition remains strong, with strategic investments in infrastructure modernization and expansion projects. MDU Resources is poised for continued growth as a pure-play regulated energy delivery business post-spinoff, focusing on providing reliable, affordable services to its 1.2 million customers.
MDU Resources Group, Inc. is a member of the S&P MidCap 400 Index and continues to leverage its nearly century-long legacy of reliable service, innovation, and community commitment to drive shareholder value and economic growth.
MDU Resources Group, Inc. (NYSE: MDU) announced the election of Dale S. Rosenthal as an independent director during its annual shareholders' meeting on May 11, 2021. Rosenthal, 64, brings extensive experience from the construction industry, previously holding senior executive roles at Clark Construction Group. Board Chair Dennis W. Johnson emphasized her alignment with MDU's business needs and prior service on another public utility’s board. Rosenthal holds degrees from Harvard Law School and Cornell University.
MDU Resources Group reported Q1 2021 earnings of $52.1 million (26 cents per share), significantly up from $25.1 million (13 cents per share) in Q1 2020. The company experienced record earnings in its construction services and pipeline sectors, alongside increased natural gas sales volumes. MDU raised its 2021 EPS guidance to $2.00 to $2.15 amid expectations of robust demand driven by federal infrastructure funding. The construction materials segment reported a seasonal loss of $30.8 million, improving from $38.2 million last year.
MDU Resources Group will webcast its annual shareholder meeting on May 11, 2021, at 11 a.m. CDT from Bismarck, N.D.. Board Chair Dennis W. Johnson will host the meeting, which includes a business update from President and CEO David L. Goodin. Interested individuals can access more information and the webcast without preregistration at www.mdu.com/proxymaterials. MDU Resources is a member of the S&P MidCap 400 and S&P High-Yield Dividend Aristocrats indices.
MDU Resources Group, Inc. (NYSE: MDU) is set to host a webcast of its first quarter 2021 earnings conference call on May 6. The financial results will be released prior to the call, which begins at 2 p.m. EDT. Investors can access the webcast at www.mdu.com. Audio replays will be available until May 20. MDU Resources is part of the S&P MidCap 400 and S&P High-Yield Dividend Aristocrats indexes, focused on delivering essential services through its energy and construction materials businesses.
Knife River Corporation has acquired Mt. Hood Rock, enhancing its position in the Portland metro area's aggregate market. This strategic move is part of Knife River's growth plan, providing an estimated 20 years of reserves and promoting vertical integration. The acquisition is expected to create operational efficiencies and drive growth immediately. President David C. Barney emphasized the company's record earnings and strong backlog, marking this as their ninth acquisition in three years, reflecting optimism for future performance.
MDU Resources Group's subsidiary, Knife River Corporation, has received a New Source Review permit from the Texas Commission on Environmental Quality. This permit enables Knife River to expand operations at its Honey Creek quarry, adding a third crusher, increasing throughput, and extending operational hours. The site, purchased in 2019, has a 40-year supply of aggregates and will see the addition of a rail-loading facility to ship materials to key Texas locations. These enhancements are expected to be operational in 2022, boosting capacity for internal and external supply.
MDU Resources Group announced a quarterly dividend of 21.25 cents per share, unchanged from the previous quarter. This dividend will be paid on April 1 to shareholders on record as of March 11. MDU Resources, listed on the NYSE under the symbol MDU, provides essential services through its regulated energy delivery and construction materials divisions.
MDU Resources Group reported a 16% increase in 2020 earnings to $390.2 million ($1.95 per share), up from $335.5 million ($1.69 per share) in 2019. The fourth quarter earnings were $112.3 million (56 cents per share), compared to $95.1 million (47 cents per share) in the previous year. The company's construction businesses achieved record earnings, supported by a robust backlog of work. For 2021, MDU anticipates earnings between $1.95 and $2.15 per share, with significant investments planned in its regulated energy and construction sectors.
MDU Resources Group, Inc. (NYSE: MDU) will host a webcast for its year-end 2020 earnings and 2021 guidance on Feb. 4, 2021, at 2 p.m. EST. The financial results will be released prior to the call, accessible via its website. Audio replays will be available until Feb. 18, with a conference ID for callers. MDU Resources is part of the S&P MidCap 400 and High-Yield Dividend Aristocrats indices, focusing on essential services in energy and construction. For further information, visit www.mdu.com.
Knife River Corporation announces an investment in Blue Planet Systems Corporation to develop a commercial process for creating synthetic limestone using sequestered carbon dioxide. This partnership aims to enhance construction-grade rock and concrete with a net-zero or negative carbon footprint. Knife River's expertise in construction aggregates will be instrumental as they scale Blue Planet's technology. This initiative promotes sustainability in concrete production while conserving natural aggregate resources. The collaboration is a proactive step towards reducing carbon emissions in infrastructure development.
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