MDU Resources Group Inc. MDU delivered second-quarter 2019 operating earnings of 32 cents per share, which beat the Zacks Consensus Estimate of 25 cents by 28%. Operating earnings increased 45.4% from the year-ago quarter’s level. The upside was driven by strong operational performance as well as the positive impact of organic and acquisition growth.
Total revenues in the second quarter amounted to $1,303.6 million, up 22.4% from $1,064.6 million in the year-ago quarter.
Operating revenues in the electric, natural gas distribution and regulated pipeline as well as the midstream segments increased 4.2% to $236.3 million. Revenues in the non-regulated pipeline and midstream, construction materials and contracting, construction services as well as other segments increased 27.4% to $1,067.3 million.
MDU Resources Group, Inc. Price, Consensus and EPS Surprise
MDU Resources Group, Inc. price-consensus-eps-surprise-chart | MDU Resources Group, Inc. Quote
Highlights of the Release
In the second quarter, operating expenses amounted to $1,206.3 million, up 21.7% from the prior-year quarter’s figure of $990.6 million.
Operating income was $97.3 million, up 31.5% year over year.
The company incurred interest expenses of $25.4 million, up from $20.8 million in the prior-year quarter.
In the second quarter, the construction services business had backlog of $1.15 billion, up 30% from $888 million in 2018.
As of Jun 30, 2019, the construction materials business had backlog of $1.04 billion, up 42% from $731 million in 2018.
Total debt amounted to $2,470 million as of Jun 30, up from $1,853 million as of Jun 30, 2018.
The company’s net cash used in operating activities in the first six months of 2019 was $22.9 million compared with net cash provided by operating activities of $176.6 million in the first six months of 2018.
MDU Resources raised previously provided guidance for 2019 earnings per share (EPS), which was forecast in the range of $1.40-$1.55. The company currently expects 2019 EPS in the range of $1.45-$1.60, whose mid-point of $1.53 is higher than the current Zacks Consensus Estimate of $1.49.
MDU Resources carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
ONE Gas, Inc OGS recorded second-quarter 2019 operating earnings of 46 cents per share, which beat the Zacks Consensus Estimate of 41 cents by 12.2%.
ONEOK Inc OKE reported second-quarter 2019 operating earnings of 75 cents per share, which surpassed the Zacks Consensus Estimate of 70 cents by 7.14%
NextEra Energy NEE reported second-quarter 2019 adjusted earnings of $2.35 per share, which beat the Zacks Consensus Estimate of $2.28 by 3.1%.
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