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MDU Resources Reports Second Quarter 2026 Results; Advances Infrastructure Growth Opportunities

MDU
  • Consolidated net income for the second quarter of 2026 reached $21.3 million, representing a 55.5% increase from the prior year period.
  • Diluted earnings per share rose to $0.10, up 42.9% year-over-year.
  • The company reaffirmed its 2026 earnings per share guidance within a range of $0.93 to $1.00.
  • Progress on the proposed Bakken East Pipeline Project continues, with precedent agreements executed for nearly 1.2 billion cubic feet per day of firm capacity.
  • The FERC Section 7(c) application for the Bakken East Pipeline is now anticipated to be filed in the fourth quarter of 2026.
  • Electric utility segment earnings increased to $14.7 million, driven by the Badger Wind Farm, new rates, 8.2% higher retail sales volumes, and data center demand.
  • Natural gas distribution segment reported a seasonal loss of $3.9 million, improving from a $7.4 million loss in the prior year due to new rates 6.7% higher retail sales volumes.
  • Pipeline segment earnings decreased to $14.4 million, impacted by lower other income 3 higher depreciation, though offset by increased short-term transportation demand.
  • North Dakota filed a general rate case requesting a $34.5 million annual revenue increase 3 entered an agreement with Applied Digital Corp. for a 430 megawatt AI Factory.
  • Washington, Oregon 3 Montana secured regulatory settlements or filings totaling over $47 million in annual revenue increases for natural gas 3 electric utilities.
  • FERC accepted MDU's rate case filing for updated transportation rates requesting a $31 million annual increase, with rates scheduled to become effective December 1, 2026.
  • The company projects total capital expenditures of $529 million for 2026, with a five-year estimated total of $3.077 billion.
  • Long-term earnings per share growth objectives remain between 6% 3 8%.
  • The company announced a second quarter 2026 earnings conference call webcast at 2 p.m. ET.