MDU Resources Group Inc. (NYSE:MDU) reported first-quarter 2018 operating earnings of 22 cents per share, beating the Zacks Consensus Estimate of 21 cents by a penny.
Operating earnings improved 22.2% from 18 cents in the year-ago quarter. The company’s utility and pipeline business delivered solid results. Revenues in the construction materials business ware higher than prior-year quarter’s level. The company’s results benefited on the back of milder weather conditions in the Northwest.
Total Revenues
Total revenues in the reported quarter were $976.3 million, up 4% from $937.9 million in the year-ago quarter.
Highlights of the Release
In the quarter under review, operating expenses amounted to $906.9 million, up 4 % from $872.1 million in the prior-year quarter.
Operating income was $69.4 million, up 5.5%.
The company incurred interest expense of $20.5 million, up 1% from $20.3 million in first-quarter 2017.
Financial Highlights
Total debt was $1,780 million as of Mar 31, 2018, down from $1,703 million as of Mar 31, 2017.
The company’s net cash flow from operating activities was $106 million, down from $87 million in the year-ago quarter.
Guidance
MDU Resources reaffirmed 2018 guidance for earnings per share in the range of $1.25-$1.45.
The company plans to invest $631 million for capital projects in 2018
Zacks Rank
MDU Resources carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Gas Distribution Releases
ONEOK Inc. (NYSE:OKE) posted first-quarter 2018 operating earnings of 64 cents per share, beating the Zacks Consensus Estimate of 62 cents by 3.32%
Upcoming Peer Release
South Jersey Industries, Inc. (NYSE:SJI) is expected to report first-quarter 2018 results on May 8. The Zacks Consensus Estimate for earnings is pegged at 96 cents.
Chesapeake Utilities Corp. (NYSE:CPK) is expected to report first-quarter 2018 results on May 9. The Zacks Consensus Estimate for earnings is pegged at $1.34 per share.
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