MDU Resources Group Reports Q1 2025 Financial Results with Increased Revenues and Decreased Net Income

MDU Resources Group, Inc. reported its financial results for the first quarter of 2025, revealing a net income of $81.965 million, a decrease from $100.898 million in the same period last year. The company's operating revenues increased to $674.833 million, up from $588.275 million in the prior year, reflecting a growth of approximately 14.7%. The earnings per share from continuing operations rose to $0.40, compared to $0.37 in the previous year, while the overall earnings per share decreased to $0.40 from $0.50, primarily due to the impact of discontinued operations related to the separation of its construction services business, Everus.

The company completed the separation of Everus on October 31, 2024, which resulted in Everus becoming an independent, publicly traded entity. This strategic move was executed through a tax-free spinoff, where shareholders received one share of Everus for every four shares of MDU common stock held. The separation has been reflected in the financial statements, with Everus' historical results classified as discontinued operations. The company incurred separation-related costs of $502,000 in the first quarter of 2025, compared to $3.7 million in the same quarter of 2024.

Operationally, MDU Resources reported a total of 204.3 million shares outstanding as of March 31, 2025, an increase from 203.9 million shares a year earlier. The company’s electric segment generated $112.261 million in revenues, while the natural gas distribution segment contributed $539.248 million. The pipeline segment added $23.323 million, indicating a diversified revenue stream across its business segments. The company also reported a significant increase in customer engagement, with residential utility sales rising to $328.920 million from $302.325 million year-over-year.

Looking ahead, MDU Resources anticipates continued growth driven by its strategic focus on regulated energy delivery and infrastructure investments. The company is actively pursuing opportunities to enhance its service offerings and expand its market presence, particularly in the natural gas distribution sector. The ongoing regulatory proceedings, including rate increase requests in various jurisdictions, are expected to support revenue growth in the coming quarters. The company remains committed to operational excellence and maintaining a strong financial position as it navigates the evolving energy landscape.