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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.
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MDU Resources Group, Inc. will webcast its year-end 2023 earnings conference call on Feb. 8 at 2 p.m. EST. The company will release its year-end results before U.S. financial markets open that day. The webcast can be accessed at www.mdu.com under the 'Investor Relations' heading. After the conclusion of the webcast, a replay will be available at the same location.
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MDU Resources Group, Inc. (NYSE: MDU) appoints Garret Senger as chief utilities officer for the company's electric and natural gas utility business, effective Jan. 6. Nicole A. Kivisto will assume the role of president and CEO of MDU Resources on the same day. Senger, an executive vice president with 40 years of company experience, is expected to lead day-to-day utility operations, ensuring reliable and affordable service for customers.
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MDU Resources Group, Inc. (NYSE: MDU) plans to make capital investments totaling $2.8 billion from 2024 through 2028, with a 15% increase in planned spending for regulated energy delivery businesses. The company also intends to pursue a tax-free spinoff of its construction services subsidiary, MDU Construction Services Group, to become a pure-play regulated energy delivery business.
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MDU Resources Group, Inc. (NYSE: MDU) appoints Darrel T. Anderson, former president and CEO of IDACORP and Idaho Power Company, to its board of directors. Anderson's extensive experience in the regulated utility industry will enhance the company's expertise. MDU Resources also announced its intent to spin off its construction services business, MDU Construction Services Group, to focus on becoming a pure-play regulated energy delivery business by late 2024.
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MDU Resources Group, Inc. (NYSE: MDU) Declares Unchanged Quarterly Dividend of 12.5 Cents per Share
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MDU Resources Group, Inc. reported third quarter earnings of $74.9 million, or 37 cents per share, compared to $147.9 million, or 73 cents per share, in the same period last year. Adjusted income from continuing operations was $58.6 million, or 29 cents per share, compared to $42.3 million, or 21 cents per share, in Q3 2022. The company announced a tax-free spinoff of its construction services subsidiary, MDU Construction Services Group, and intends to become a pure-play energy delivery business. For the nine months ended Sept. 30, 2023, MDU Resources had earnings of $244.0 million, or $1.20 per share, compared to $250.4 million, or $1.23 per share, in the same period last year.
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MDU Resources Group, Inc. announces plan to spin off its wholly owned construction services business, MDU Construction Services Group, Inc., resulting in two independent, publicly traded companies. The spinoff is expected to be completed in late 2024 and will be tax-free for MDU Resources and its shareholders. MDU Construction Services Group achieved record revenues of $2.7 billion and record earnings of $124.8 million in 2022. With a backlog of $1.85 billion, the company is positioned for significant growth.
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WBI Energy's Wahpeton Expansion project approved by the Federal Energy Regulatory Commission
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MDU Resources Group, Inc. to webcast Q3 2023 earnings conference call on Nov. 2
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MDU Resources Group to host investor day on Nov. 21, 2023, at NYSE. Updates on operational strategy and financials to be presented. Tax-advantaged separation of construction services business planned.
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FAQ
What is the current stock price of MDU Resources Group (MDU)?
The current stock price of MDU Resources Group (MDU) is $18.34 as of November 15, 2024.
What is the market cap of MDU Resources Group (MDU)?
The market cap of MDU Resources Group (MDU) is approximately 3.7B.
What are the core businesses of MDU Resources Group, Inc.?
MDU Resources operates in five segments: Electric, Natural Gas Distribution, Pipeline, Construction Services, and Everus Construction Group.
What recent projects has MDU Resources Group, Inc. undertaken?
Recent projects include the Wahpeton Expansion project, which involves constructing a natural gas pipeline expansion in eastern North Dakota.
What is the significance of the planned spinoff of Everus Construction Group?
The spinoff aims to create two independent, publicly traded companies, allowing MDU Resources to focus on being a pure-play regulated energy delivery business.
What regions does MDU Resources serve?
MDU Resources serves customers in Montana, North Dakota, South Dakota, Wyoming, Idaho, Minnesota, Oregon, and Washington.
What is the historical background of MDU Resources Group, Inc.?
MDU Resources was founded in 1924 as a small electric utility serving rural communities in Montana and North Dakota. It has since grown into a multibillion-dollar corporation.
How does MDU Resources contribute to infrastructure development?
MDU Resources provides essential products and services that support energy and transportation infrastructure, including electricity, natural gas, and construction services.
What is the financial outlook for MDU Resources?
MDU Resources has a strong financial condition, with strategic investments in infrastructure projects and a focus on sustainable growth and shareholder value.
What is the status of the Heskett Unit IV project?
The Heskett Unit IV, an 88-megawatt natural gas-fired electric generating facility, is expected to be online in the second quarter.
How does MDU Resources ensure reliability in its services?
MDU Resources continually invests in modernizing its infrastructure and expanding its regulated pipeline system to provide reliable services to its customers.
Where can I find more information about MDU Resources?
For more information, visit www.mdu.com or contact the Investor Relations Department at investor@mduresources.com.
MDU Resources Group, Inc.
NYSE:MDU
MDU Rankings
MDU Stock Data
3.73B
203.89M
0.63%
75.91%
2.71%
Conglomerates
Mining & Quarrying of Nonmetallic Minerals (no Fuels)
United States of America
BISMARCK