Mdu Resources Group (MDU) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

May 06, 2026

After Close (Confirmed)

Period Ending

2026 (Q1)

Consensus EPS Forecast

0.4

Last Year’s EPS

0.4

Same Quarter Last Year

Analyst Consensus

Moderate Buy

Based on 3 Analysts Ratings

Earnings Call Summary

Q4 2025

Earnings Call Date:Feb 05, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call conveys a generally constructive outlook marked by meaningful capital deployment ($792M), a 16% increase in utility rate base, record pipeline performance, robust natural gas utility growth (+19.6%), and a sizable data center backlog (580 MW). The company executed a strategic acquisition (Badger Wind Farm), revised its five‑year capital plan to $3.1B, and secured equity financing to fund growth, all while reaffirming a long-term EPS growth target of 6%–8% and a 60%–70% dividend payout target. Offsetting these positives are near-term pressures: reported GAAP earnings declined due to the Everest spin-off, electric utility earnings fell (~-13.3%), O&M and other expense inflation, a denied interim rate in Montana delaying recovery, elevated leverage (49.1% debt-to-capital post-acquisition), and remaining uncertainty around large incremental projects such as the Bakken East pipeline. On balance, highlights materially outweigh the lowlights, though execution and regulatory timing will determine near-term pacing.

Company Guidance

On the call management initiated 2026 EPS guidance of $0.93 to $1.00 per share (noting the range reflects equity financing for growth), reiterated a long‑term EPS growth target of 6%–8% and a targeted annual dividend payout ratio of 60%–70%; they also confirmed a revised 2026–2030 capital plan of $3.1 billion (after $792 million deployed in 2025), said utility rate base grew 16% year‑over‑year and combined retail customer growth was 1.5% (within the 1%–2% target), and highlighted key regulatory and project metrics that underpin guidance — including the 49% Badger Wind interest placed in service Dec. 31, 2025 (recovery filings made Oct. 31; ND PSC approved Jan. 26), signed data center load of 580 MW (180 MW online, 100 MW ramping, 150 MW expected later this year and 150 MW in 2027), Line Section 32 FERC filing targeted for March 2026 with construction complete late 2028, Bakken East open season through March 13 and potential FERC 7C timing tied to an FID with in‑service targets of late 2029 (west) and late 2030 (east), rate outcomes including a $5.8M annual Wyoming electric increase (effective Apr. 1, 2026), a $13M annual Idaho gas increase (effective Jan. 1, 2026) and a $10.8M Washington increase (effective Mar. 1, 2026), and financial position items including a post‑Badger debt‑to‑capitalization of ~49.1% and roughly 11.7 million follow‑on shares (offered at $19.70) expected to meet 2026 equity needs (forward sales settlement available through Dec. 6, 2027).

Earnings from Continuing Operations Increased

Income from continuing operations was $191.4 million, or $0.93 per share, up from $181.1 million, or $0.88 per share in 2024 (~+5.7% YoY on continuing EPS).

Record Pipeline Results

Pipeline segment posted record earnings of $68.2 million in 2025 versus $68.0 million in 2024 (slight increase ~+0.3%), driven by expansion projects placed in service and strong short-term firm transportation demand.

Strong Natural Gas Utility Performance

Natural gas utility earnings rose to $56.1 million from $46.9 million in 2024, an increase of 19.6% YoY, driven primarily by higher retail sales revenue and multi-jurisdictional rate relief.

Material Capital Deployment and Rate Base Growth

Deployed $792 million of capital in 2025; utility rate base grew 16% year-over-year, reflecting placed-in-service investments including the Badger Wind Farm acquisition (49% ownership placed in service Dec 31, 2025).

Data Center Load Booked and Staged

Signed electric service agreements for 580 MW of data center load (180 MW online since May 2023; 100 MW ramping currently; 150 MW expected online later in 2026; remaining 150 MW expected online in 2027). Company pursuing additional customers and using a capital-light model for these opportunities.

Regulatory Progress and Rate Relief Wins

Multiple regulatory wins: North Dakota approved recovery for Badger Wind Farm; Idaho natural gas rate case approved for $13 million annual increase effective Jan 1, 2026; Washington second-year increase of $10.8 million effective Mar 1, 2026 (subject to review); Wyoming settlement for ~$5.8 million annual increase expected Apr 1, 2026. Wildfire mitigation plans filed in ND, MT and WY.

Capital Plan and Growth Targets Maintained

Revised 2026–2030 capital investment plan to $3.1 billion after earlier-than-expected Badger close. Company reaffirmed long-term EPS growth target of 6%–8% and annual dividend payout target of 60%–70%.

Liquidity and Equity Financing Executed

Completed follow-on public offering of ~10.15 million shares plus ~1.5 million overallotment shares (roughly 11.7 million shares) at $19.70 per share to fund growth (providing substantial equity capacity for 2026 and a portion of 2027 financing needs); company states strong balance sheet and ample working capital access.

Clear 2026 Guidance Range

Initiated 2026 EPS guidance of $0.93 to $1.00 per share (midpoint implies modest growth vs 2025 continuing EPS) while noting equity issuance and ongoing rate cases in the near term.

Mdu Resources Group (MDU) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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MDU Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
May 06, 2026	2026 (Q1)	0.40 / -	0.4	―	―	―
Feb 05, 2026	2025 (Q4)	0.36 / 0.37	0.34	8.82% (+0.03)
Nov 06, 2025	2025 (Q3)	0.09 / 0.09	0.32	-71.88% (-0.23)
Aug 07, 2025	2025 (Q2)	0.12 / 0.07	0.177	-60.45% (-0.11)
May 08, 2025	2025 (Q1)	0.36 / 0.40	0.288	38.89% (+0.11)
Feb 06, 2025	2024 (Q4)	0.34 / 0.34	0.266	27.82% (+0.07)
Nov 07, 2024	2024 (Q3)	0.31 / 0.32	0.161	98.76% (+0.16)
Aug 08, 2024	2024 (Q2)	0.12 / 0.18	0.161	9.94% (+0.02)
May 02, 2024	2024 (Q1)	0.24 / 0.29	0.087	231.03% (+0.20)
Feb 08, 2024	2023 (Q4)	0.27 / 0.27	0.232	14.66% (+0.03)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

MDU Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Feb 05, 2026	$21.03	$20.16	-4.14%
Nov 06, 2025	$19.55	$20.47	+4.73%
Aug 07, 2025	$17.22	$16.07	-6.69%
May 08, 2025	$17.20	$17.09	-0.62%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Mdu Resources Group Inc (MDU) report earnings?

Mdu Resources Group Inc (MDU) is schdueled to report earning on May 06, 2026, After Close (Confirmed).

What is Mdu Resources Group Inc (MDU) earnings time?

Mdu Resources Group Inc (MDU) earnings time is at May 06, 2026, After Close (Confirmed).

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What is MDU EPS forecast?

MDU EPS forecast for the fiscal quarter 2026 (Q1) is 0.4.