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MDU Resources (MDU) Q4 Earnings & Revenues Increase Y/Y

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MDU Resources Group Inc. MDU reported fourth-quarter 2020 operating earnings of 56 cents per share, which increased 19.1% from the year-ago level. This upside was led by a strong performance of its construction companies and regulated energy business.

Total Revenues

Total revenues came in at $1,385.2 million, up 0.5% from $1,378.2 million in the year-ago quarter.

Operating revenues in the electric, natural gas distribution and regulated pipeline declined 3.8% from the prior-year quarter to $379 million. Revenues in non-regulated pipeline, construction materials and contracting, construction services and other segments increased 2.2% from the year-ago quarter to $1,006.2 million.

MDU Resources Group, Inc. Price, Consensus and EPS Surprise

MDU Resources Group, Inc. Price, Consensus and EPS Surprise
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

For the quarter under review, operating expenses of $1,239.3 million decreased 0.7% from the prior-year period’s $1,248 million.

Operating income was $145.9 million, up 12.1% year over year.

The company’s interest expenses of $23.4 million were down 4.5% from $24.5 million in the prior-year quarter.

As of Dec 31, 2020, the construction services business had a backlog of $1.27 billion, up from $1.14 billion as of Dec 31, 2019.

As of Dec 31, 2020, the construction materials business had a backlog of $673 million, down from $693 million as of Dec 31, 2019.

Financial Highlights

Cash and cash equivalents as of Dec 31, 2020 were $59.6 million compared with $66.5 million at 2019 end.

Total debt amounted to $2,263 million as of Dec 31, 2020 compared with $2,243 million on Dec 31, 2019.

The company’s net cash provided by operating activities in 2020 was $768.4 million compared with $542.3 million in 2019.

Guidance

MDU Resources issued its 2021 earnings per share guidance of $1.95-$2.15. This estimation is based on several assumptions, worth mentioning are normal weather and continued customer growth of electric and natural gas at 1-2% rate annually. Moreover, it anticipates investing $826 million in the ongoing year and a further $3,048 million during the 2021-2025 forecast period.

Zacks Rank

MDU Resources carries a Zacks Rank #2 (Buy), currently. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Upcoming Release

ONE Gas Inc. OGS is scheduled to report fourth-quarter 2020 results on Feb 17. The Zacks Consensus Estimate for the quarterly bottom line is pegged at $1.06 per share.

Other Releases

UGI Corporation UGI reported first-quarter fiscal 2020 adjusted earnings of $1.18 per share, beating the Zacks Consensus Estimate of $1.11.

Atmos Energy Corporation ATO posted first-quarter fiscal 2021 earnings of $1.71 per share, which surpassed the Zacks Consensus Estimate of $1.58 by 8.2%.

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