Mdu Res (MDU)
NYSE:MDU
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Earnings Data
Report Date
Jul 30, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.08Last Year’s EPS
0.07Same Quarter Last Year
Moderate Buy
Based on 3 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Neutral
The call highlighted strong commercial momentum (notably robust Bakken East open season interest and a large pipeline commitment), meaningful data center load under signed ESAs with a capital-light model benefiting retail customers, and continued regulatory progress and liquidity support. Offsetting these positives were weather-driven volume and earnings headwinds, a notable decline in pipeline segment earnings (~11%), and material execution and financing uncertainty tied to the large incremental Bakken East capex ($2.7B–$3.2B). Regulatory timing and cost volatility (steel, labor, compression) add risk to project economics and timing. On balance, the company reaffirmed guidance, emphasized a strong balance sheet and multiple financing options, and presented several growth opportunities, but also faces near-term operational and project execution risks.Company Guidance
Consolidated Quarterly Results and Guidance Affirmation
Q1 2026 earnings of $80.8 million, or $0.39 per share, compared to Q1 2025 earnings of $82.0 million, or $0.40 per share (consolidated EPS decline of ~2.5%; total earnings decline of ~1.5%). Company affirmed full-year 2026 EPS guidance of $0.93 to $1.00 and reiterated long-term EPS growth target of 6%–8% and targeted dividend payout ratio of 60%–70%.
Strong Commercial Interest for Bakken East Pipeline
Binding open season produced ~1.4 billion cubic feet per day (Bcf/d) of interest; ~40% of that interest is under signed precedent agreements (~0.56 Bcf/d signed). Included in signed agreements is a firm $50 million annual commitment for 10 years from the state of North Dakota. Project design estimates released and projected incremental capex range of $2.7 billion to $3.2 billion (would be incremental to existing $3.1 billion capital forecast).
Data Center Load Growth and Capital-Light Strategy
580 megawatts under signed electric service agreements (ESAs). 180 MW online since mid-2023 (~31% of signed MW); additional 50 MW online and 50 MW ramping; 150 MW expected later in 2026 (~26% of signed MW), 100 MW in 2027 (~17%), and 50 MW in 2028 (~9%). Current capital-light approach yields an approximate $70/year bill credit for average retail customer today, with potential to increase to over $200/year when all volumes are fully online.
Regulatory and Project Milestones
Wyoming electric rate case approved effective April 1, 2026; Montana interim rates approved for an annual $10.4 million increase effective April 1 (subject to refund); Idaho gas rates effective January 1 added ~$13 million annually; Washington year-two rates added ~$10.8 million effective March 1. FERC Section 7(c) application filed in March for Align Section 32 expansion (~$70 million capex included in $3.1 billion plan).
Retail Customer Growth and Demand Trends
Combined utility retail customer growth of 1.4% year-over-year, within the company's target band of 1%–2%, supporting customer-driven growth projects and long-term EPS growth objectives.
Balance Sheet and Financing Options
Company reports a strong balance sheet and ample access to working capital. In March 2026, 4.3 million new common shares were issued from forward sale settlements for proceeds of approximately $81.3 million, enhancing liquidity. Management indicates all financing options are being considered for large projects (balance-sheet financing, partnerships, and other structures).
MDU Earnings History
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 |
|---|---|---|---|
May 07, 2026 | $22.31 | $22.47 | +0.72% |
Feb 05, 2026 | $20.89 | $20.02 | -4.14% |
Nov 06, 2025 | $19.42 | $20.34 | +4.72% |
Aug 07, 2025 | $17.10 | $15.96 | -6.69% |
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 Res (MDU) report earnings?
Mdu Res (MDU) is schdueled to report earning on Jul 30, 2026, After Close (Confirmed).
What is Mdu Res (MDU) earnings time?
Mdu Res (MDU) earnings time is at Jul 30, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is MDU EPS forecast?
MDU EPS forecast for the fiscal quarter 2026 (Q2) is 0.08.