MDU Resources' (MDU) Earnings and Revenues Rise Y/Y in Q3
MDU Resources Group Inc. MDU delivered third-quarter 2019 operating earnings of 68 cents per share. Operating earnings increased 23.6% from the year-ago quarter’s level. The upside was driven by exceptional performance in construction materials and services businesses.
Total revenues in the third quarter amounted to $1,563.8 million, up 22.1% from $1,280.8 million in the year-ago quarter.
Operating revenues in the electric, natural gas distribution and regulated pipeline as well as the midstream segments increased 4.4% to $209.4 million. Revenues in the non-regulated pipeline and midstream, construction materials and contracting, construction services as well as other segments increased 25.4% to $1,354.4 million.
MDU Resources Group, Inc. Price, Consensus and EPS Surprise
Highlights of the Release
Under pipeline business, Demicks Lake project started operation as scheduled in September.
In the third quarter, operating expenses amounted to $1,374.3 million, up 20.5% from the prior-year quarter’s figure of $1,140.8 million.
Operating income amounted to $189.5 million, up 35.4% year over year.
The company incurred interest expenses of $25.2 million, up from $21 million in the prior-year quarter.
At the end of third quarter, the construction services business had backlog of $1.2 billion, up 34% from $896 million in third quarter of 2018.
At the end of third quarter, the construction materials business had backlog of $747 million, up 27% from $590 million in 2018.
Total debt amounted to $2,387 million as of Sep 30, up from $1,915 million as of Sep 30, 2018.
The company’s net cash provided by operating activities in the first nine months of 2019 was $203.1 million compared with net cash provided by operating activities of $317.4 million in the year-ago period.
MDU Resources narrowed its previously provided guidance for 2019 earnings per share (EPS), which was forecast in the range of $1.45-$1.60. The company currently expects 2019 EPS in the range of $1.50-$1.60, whose mid-point of $1.55 is higher than the current Zacks Consensus Estimate of $1.50.
MDU Resources carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
ONEOK Inc OKE reported third-quarter 2019 operating earnings of 74 cents per share, in line with the Zacks Consensus Estimate.
ONE Gas OGS reported third-quarter 2019 earnings of 33 cents per share, which lagged the Zacks Consensus Estimate of 34 cents by 2.94%.
Sempra Energy SRE is scheduled to release third-quarter 2019 results on Nov 1. The Zacks Consensus Estimate for earnings is pegged at $1.49.
Free: Zacks’ Single Best Stock Set to Double
Today you are invited to download our just-released Special Report that reveals 5 stocks with the most potential to gain +100% or more in 2020. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.
This pioneering tech ticker had soared to all-time highs and then subsided to a price that is irresistible. Now a pending acquisition could super-charge the company’s drive past competitors in the development of true Artificial Intelligence. The earlier you get in to this stock, the greater your potential gain.
Download Free Report Now >>
Click to get this free report
ONEOK, Inc. (OKE): Free Stock Analysis Report
ONE Gas, Inc. (OGS): Free Stock Analysis Report
Sempra Energy (SRE): Free Stock Analysis Report
MDU Resources Group, Inc. (MDU): Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.