MDU Sources Group Inc. MDU reported fir
MDU Sources Group Inc. MDU reported first-quarter 2021 working earnings of 26 cents per share, which beat the Zacks Consensus Estimate of 20 cents by 30%. The identical elevated 100% from the year-ago degree. This upside was led by a powerful efficiency of its building providers and pipeline companies together with elevated pure fuel gross sales volumes.
Complete Revenues
Complete revenues got here in at $1,227.9 million, up 2.6% from $1,197.Four million within the year-ago quarter.
Working revenues within the electrical, pure fuel distribution and controlled pipeline improved 5.7% from the prior-year quarter to $442.Four million. Revenues in non-regulated pipeline, building supplies and contracting, building providers and different segments inched up 0.9% from the year-ago quarter to $785.5 million.
MDU Sources Group, Inc. Value, Consensus and EPS Shock
MDU Sources Group, Inc. price-consensus-eps-surprise-chart | MDU Sources Group, Inc. Quote
Highlights of the Launch
For the quarter beneath evaluate, working bills of $1,142.7 million elevated 0.2% from the prior-year interval’s $1,140.Three million.
Working revenue was $85.2 million, up 49.2% yr over yr.
The corporate’s curiosity bills of $23.Four million have been down 4.9% from $24.6 million within the prior-year quarter.
As of Mar 31, 2021, the development providers enterprise had a backlog of $1.27 billion, on par with the prior-year quarter’s quantity.
As of Mar 31, 2021, the development supplies enterprise had a backlog of $819 million, down from $905 million yr over yr. The development supplies enterprise acquired an aggregates operation in Portland. Additionally, it bought permission to broaden operations at a Texas combination quarry.
The corporate’s North Bakken Growth undertaking was anticipated to obtain the Federal Vitality Regulatory Fee approval within the reported quarter. As a result of delay in regulatory nods, the utility has to regulate its building schedule, which can postpone the in-service date of the undertaking.
Monetary Highlights
Money and money equivalents as of Mar 31, 2021 have been $55.1 million in contrast with $59.5 million at 2020 finish.
Lengthy-term debt amounted to $2,251.7 million as of Mar 31, 2021 in contrast with $2,211.6 million on Dec 31, 2020.
The corporate’s web money offered by working actions within the first quarter of 2021 was $95.6 million in contrast with $79.Three million within the comparable interval of 2020.
Steerage
MDU Sources narrowed its 2021 earnings per share steering to $2-$2.15 from the prior expectation of $1.95-$2.15. This estimation relies on a number of assumptions, of which value mentioning are regular climate and continued addition to the electrical and pure fuel clients at 1-2% fee, yearly. In the long run, the utility expects earnings to develop 5-8% on an annual foundation.
Furthermore, it lowered its funding plans to $811 million from $826 million within the ongoing yr. Additionally, it plans to speculate $3,032 million throughout the 2021-2025 forecast interval.
Zacks Rank
MDU Sources carries a Zacks Rank #3 (Maintain), at the moment. You possibly can see the entire checklist of in the present day’s Zacks #1 Rank (Robust Purchase) shares right here.
Different Releases
ONE Gasoline Inc. OGS reported first-quarter 2021 earnings of $1.79 per share, beating the Zacks Consensus Estimate of $1.78 by 0.6%.
Sempra Vitality’s SRE first-quarter 2021 adjusted earnings per share got here in at $2.95, surpassing the Zacks Consensus Estimate of $2.77 by 6.5%.
Atmos Vitality Company ATO posted second-quarter fiscal 2021 earnings of $2.30 per share, which surpassed the Zacks Consensus Estimate of $2.05 by 12.2%.
+1,500% Development: One in every of 2021’s Most Thrilling Funding Alternatives
Along with the shares you examine above, would you wish to see Zacks’ prime picks to capitalize on the Web of Issues (IoT)? It is likely one of the fastest-growing applied sciences in historical past, with an estimated 77 billion gadgets to be related by 2025. That works out to 127 new gadgets per second.
Zacks has launched a particular report that can assist you capitalize on the Web of Issues’s exponential development. It reveals Four under-the-radar shares that may very well be a few of the most worthwhile holdings in your portfolio in 2021 and past.
Click on right here to obtain this report FREE >>
Need the newest suggestions from Zacks Funding Analysis? Right this moment, you’ll be able to obtain 7 Finest Shares for the Subsequent 30 Days. Click on to get this free report
Sempra Vitality (SRE): Free Inventory Evaluation Report
Atmos Vitality Company (ATO): Free Inventory Evaluation Report
ONE Gasoline, Inc. (OGS): Free Inventory Evaluation Report
To learn this text on Zacks.com click on right here.
Zacks Funding Analysis
The views and opinions expressed herein are the views and opinions of the creator and don’t essentially replicate these of Nasdaq, Inc.