Earnings Releases·Nov 5, 2026, 8:32 AM ET

MDU Resources — Third Quarter 2026 Earnings Summary

Consolidated net income declined to $14.0 million ($0.07 EPS) in Q3 2026 from $18.4 million ($0.09 EPS) in the prior year, while nine-month net income rose to $116.1 million ($0.55 EPS) from $114.1 million ($0.56 EPS); operating revenues increased 10.4% to $347.8 million for the quarter but fell 0.9% to $1,329.0 million for the nine months.
The company reaffirmed 2026 EPS guidance of $0.93 to $1.00 and long-term growth targets of 6% to 8%, driven by strong electric utility performance (up 23.6% to $26.5 million) and new rate implementations, partially offset by a seasonal net loss in natural gas distribution and higher operating expenses.
The Board approved the Bakken East Pipeline with a final investment decision, narrowing the estimated capital range to $2.8 billion–$3.1 billion, with construction scheduled for 2028–2030 and a FERC application anticipated in Q4 2026.
Total debt increased to $2,595 million as of September 30, 2026, from $2,353 million in 2025, while 2026 capital expenditures are estimated at $594 million, with $327 million allocated to Natural Gas Distribution.