We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
MDU Resources' (MDU) Q3 Earnings Increase Y/Y, Sales Fall
Read MoreHide Full Article
MDU Resources Group Inc. (MDU - Free Report) reported third-quarter 2023 operating earnings per share of 29 cents, which increased 61.1% from the year-ago quarter’s 21 cents.
GAAP earnings in the reported quarter were 37 cents per share compared with 73 cents in the prior-year quarter.
Total Revenues
Net sales decreased 0.2% to $1,000.8 million from $1,002.5 million in the comparable period of 2022.
Operating revenues in the electric, natural gas distribution and regulated pipeline totaled $279.5 million, up 6% from the prior-year quarter’s figure. Revenues in the non-regulated pipeline, construction services and other segments decreased 2.4% to $721.3 million.
MDU Resources Group, Inc. Price, Consensus and EPS Surprise
Total operating expenses in the third quarter amounted to $916.2 million, down 2.7% from the year-ago quarter’s $941.5 million. This was due to a 3.8% decrease in operation and maintenance expenses.
Operating income totaled $84.6 million, up 38.7% from the year-ago quarter’s $61 million.
Interest expenses were $32.1 million compared with $20.2 million in the corresponding period of 2022.
Financial Highlights
Cash and cash equivalents for nine months ended Sep 30, 2023, were $32.5 million compared with $74.6 million as of Sep 30, 2022.
Net cash provided by operating activities for the nine months ended Sep 30, 2023, was $174.9 million compared with $284.9 million in the year-ago period.
Guidance
For 2023, MDU Resources expects earnings from its regulated energy delivery businesses in the range of $155-$165 million, up from $150-$160 million projected earlier.
Revenues from construction services are expected in the range of $2.80-$3.00 billion, and EBITDA of $210-$230 million, up from $200-$225 million guided previously.
Zacks Rank
MDU Resources currently has a Zacks Rank #3 (Hold).
ONE Gas Inc. (OGS - Free Report) reported third-quarter 2023 operating EPS of 45 cents, which surpassed the Zacks Consensus Estimate of 42 cents by 7.1%. The bottom line increased 2.3% from the year-ago quarter’s figure of 44 cents.
The Zacks Consensus Estimate for OGS’ 2023 earnings stands at $4.12 per share, implying a year-over-year improvement of 1%. The stock delivered an average earnings surprise of 1.85% in the last four quarters.
PNM Resources Inc. (PNM - Free Report) reported third-quarter 2023 earnings of $1.54 per share, which surpassed the Zacks Consensus Estimate of $1.30 by 18.5%. The bottom line also increased 5.5% from the year-ago quarter’s figure of $1.46.
The Zacks Consensus Estimate for PNM’s 2023 earnings stands at $2.72 per share, implying a year-over-year improvement of 1.1%. The stock delivered an average earnings surprise of 23.16% in the last four quarters.
NextEra Energy, Inc. (NEE - Free Report) released third-quarter 2023 adjusted earnings of 94 cents per share, which beat the Zacks Consensus Estimate of 86 cents by 9.3%. The bottom line was also up 10.6% from the prior-year quarter.
The Zacks Consensus Estimate for NEE’s 2023 earnings stands at $3.12 per share, implying a year-over-year improvement of 7.6%. The stock delivered an average earnings surprise of 7.33% in the last four quarters.
See More Zacks Research for These Tickers
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
MDU Resources' (MDU) Q3 Earnings Increase Y/Y, Sales Fall
MDU Resources Group Inc. (MDU - Free Report) reported third-quarter 2023 operating earnings per share of 29 cents, which increased 61.1% from the year-ago quarter’s 21 cents.
GAAP earnings in the reported quarter were 37 cents per share compared with 73 cents in the prior-year quarter.
Total Revenues
Net sales decreased 0.2% to $1,000.8 million from $1,002.5 million in the comparable period of 2022.
Operating revenues in the electric, natural gas distribution and regulated pipeline totaled $279.5 million, up 6% from the prior-year quarter’s figure. Revenues in the non-regulated pipeline, construction services and other segments decreased 2.4% to $721.3 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
Total operating expenses in the third quarter amounted to $916.2 million, down 2.7% from the year-ago quarter’s $941.5 million. This was due to a 3.8% decrease in operation and maintenance expenses.
Operating income totaled $84.6 million, up 38.7% from the year-ago quarter’s $61 million.
Interest expenses were $32.1 million compared with $20.2 million in the corresponding period of 2022.
Financial Highlights
Cash and cash equivalents for nine months ended Sep 30, 2023, were $32.5 million compared with $74.6 million as of Sep 30, 2022.
Net cash provided by operating activities for the nine months ended Sep 30, 2023, was $174.9 million compared with $284.9 million in the year-ago period.
Guidance
For 2023, MDU Resources expects earnings from its regulated energy delivery businesses in the range of $155-$165 million, up from $150-$160 million projected earlier.
Revenues from construction services are expected in the range of $2.80-$3.00 billion, and EBITDA of $210-$230 million, up from $200-$225 million guided previously.
Zacks Rank
MDU Resources currently has a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Releases
ONE Gas Inc. (OGS - Free Report) reported third-quarter 2023 operating EPS of 45 cents, which surpassed the Zacks Consensus Estimate of 42 cents by 7.1%. The bottom line increased 2.3% from the year-ago quarter’s figure of 44 cents.
The Zacks Consensus Estimate for OGS’ 2023 earnings stands at $4.12 per share, implying a year-over-year improvement of 1%. The stock delivered an average earnings surprise of 1.85% in the last four quarters.
PNM Resources Inc. (PNM - Free Report) reported third-quarter 2023 earnings of $1.54 per share, which surpassed the Zacks Consensus Estimate of $1.30 by 18.5%. The bottom line also increased 5.5% from the year-ago quarter’s figure of $1.46.
The Zacks Consensus Estimate for PNM’s 2023 earnings stands at $2.72 per share, implying a year-over-year improvement of 1.1%. The stock delivered an average earnings surprise of 23.16% in the last four quarters.
NextEra Energy, Inc. (NEE - Free Report) released third-quarter 2023 adjusted earnings of 94 cents per share, which beat the Zacks Consensus Estimate of 86 cents by 9.3%. The bottom line was also up 10.6% from the prior-year quarter.
The Zacks Consensus Estimate for NEE’s 2023 earnings stands at $3.12 per share, implying a year-over-year improvement of 7.6%. The stock delivered an average earnings surprise of 7.33% in the last four quarters.