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MDU Resources Group (MDU) investor relations material
MDU Resources Group Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary7 Aug, 2025
Executive summary
Q2 2025 net income was $13.7M–$13.8M, down from $60.4M in Q2 2024, mainly due to the Everus/Everest spinoff and higher costs; EPS from continuing operations was $0.07.
Electric utility earnings were $10.4M, with 12% retail sales growth from data center demand, but higher O&M and outage costs reduced year-over-year results.
Natural gas utility posted a Q2 loss of $7.4M, larger than prior year, due to warmer weather and higher payroll, partially offset by rate relief.
Pipeline segment earned $15.4M, down from $17.3M, with higher O&M and absence of a prior year settlement, but strong demand and increased transportation revenue.
Everus/Everest spinoff completed in October 2024; prior results restated as discontinued operations.
Financial highlights
Q2 2025 net income: $13.7M–$13.8M vs. $60.4M in Q2 2024; diluted EPS: $0.07 vs. $0.30; six-month net income: $95.7M vs. $161.3M.
Q2 2025 operating revenues were $351.2M, up 2% year-over-year; six-month revenues reached $1.03B, up 10%.
Cash flow from operations for the first half of 2025 was $334.9M, up from $301.6M in 2024.
Capital expenditures for the first half of 2025 were $179.4M; full-year 2025 capex estimated at $539M.
Book value per share: $13.37; market price per share: $16.67; total assets: $6,946M.
Outlook and guidance
2025 EPS guidance narrowed to $0.88–$0.95 per share, reflecting weather and cost impacts; long-term EPS growth targeted at 6–8% annually.
Five-year capital investment plan totals $3.1B, with 7–8% annual utility rate base growth and 1–2% annual customer growth expected.
No equity issuances planned for 2025; plans to reestablish ATM program for future capital needs.
Dividend payout ratio targeted at 60–70% annually.
Regulatory and environmental compliance costs, including EPA rule changes, may impact future results.
Assess the feasibility of the Bakken East Project.
Explain the variance in electric O&M expenses.
Why did natural gas volumes decline?
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Next MDU Resources Group earnings date
Q3 20256 Nov, 2025
Next MDU Resources Group earnings date
Q3 20256 Nov, 2025
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Frequently asked questions
MDU Resources Group Inc is a diversified energy and infrastructure company involved in regulated utility services, construction materials, and contracting services. It supplies electricity and natural gas to residential, commercial, and industrial customers, and also provides construction services for infrastructure and utility systems. MDU Resources Group Inc is headquartered in Bismarck, North Dakota, and its shares are listed on the NYSE.
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