MDU Resources reports Q3 adjusted EPS 32c, consensus 26c

Reports Q3 revenue $1.05B from $1.00B. “The successful spinoff of Everus Construction Group on October 31, following last year’s Knife River Corporation spinoff, marks the completion of our strategic initiatives,” said CEO Nicole Kivisto. “This positions MDU Resources (MDU) as a pure-play regulated energy delivery business, which we believe will drive sustained growth and shareholder value. Third quarter earnings were robust, with growth across each segment. The electric utility business benefited from rate relief and favorable weather, while the pipeline segment saw higher transportation and storage revenue. Continued momentum in our regulated energy delivery businesses has led to increased earnings guidance for 2024.”