MDU Resources Group Inc. (MDU) Quarterly 10-Q Report

MDU Resources Group, Inc. has submitted its 10-Q filing for the quarterly period ended September 30, 2024.

The filing includes financial statements for the quarter, showing total operating revenues of $1,050,516,000, an increase from $1,000,795,000 in the same quarter the previous year. The increase is attributed to higher revenues in the electric and pipeline segments.

Operating expenses for the quarter were $959,712,000, up from $916,191,000 in the previous year. This increase was largely due to higher operation and maintenance expenses.

The company reported an operating income of $90,804,000 for the quarter, compared to $84,604,000 in the previous year.

Net income for the quarter was $64,615,000, down from $74,929,000 in the previous year. Earnings per share were $0.32, compared to $0.37 in the previous year.

The electric segment reported an increase in operating income to $32,079,000, driven by higher retail sales revenue and rate relief.

The natural gas distribution segment reported a slightly lower seasonal loss, with improvements due to rate relief and higher investment returns.

The pipeline segment saw an increase in operating income to $22,179,000, primarily due to higher transportation volumes and new service rates.

The construction services segment reported increased earnings, with operating income rising to $53,709,000, due to higher revenues from electrical and mechanical projects.

MDU completed the separation of Everus, its construction services business, resulting in Everus becoming an independent, publicly traded company.

The company continues to focus on organic growth opportunities and maintaining its dividend payout ratio target of 60% to 70% of regulated energy delivery earnings.

This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the MDU Resources Group Inc. (Holding Company) quarterly 10-Q report dated November 7, 2024. To report an error, please email [email protected].