Company Focus and Strategy - MDU Resources is now a pure-play regulated energy delivery business, focusing on its "CORE" business[4, 5] - The company aims for a long-term EPS growth rate of 6-8% and a dividend payout ratio target of 60-70% annually[4] Financial Performance - The company narrowed and increased its 2024 earnings guidance for the Regulated Energy Delivery segment to a range of $180 million to $185 million[12] - Third quarter 2024 GAAP net income was $64.6 million, compared to $74.9 million in 2023[16] - Adjusted income from continuing operations for the third quarter 2024 was $65.5 million, compared to $58.6 million in 2023[16] Utility Business - Electric and natural gas utility earnings increased by $0.8 million, from $6 million in 2023 to $6.8 million in 2024, driven by rate relief and higher volumes[17] - The company expects its customer base to continue growing by 1-2% annually[7] Pipeline Business - The pipeline segment achieved record third-quarter earnings of $15.1 million in 2024, compared to $11.9 million in 2023[18] - The company's pipeline system has a current transportation capacity of over 2.8 billion cubic feet of natural gas per day[11] Regulatory Updates and Data Centers - The company has filed rate cases in multiple states, including Washington (requesting $43.8 million and $11.7 million increases), North Dakota (requesting $11.6 million), Montana (requesting $9.4 million), and Wyoming (requesting $2.6 million)[9] - MDU Resources has signed electric service agreements for 580 MW of data center load, with 180 MW currently online and 400 MW to be phased in over 3 years[7, 11]

Core Points - MDU Resources Group, Inc. has successfully completed the spinoff of its construction services subsidiary, Everus Construction Group, making it an independent public company [1][2] Distribution Details - The spinoff was executed through a pro rata distribution of Everus common stock to MDU Resources stockholders, with stockholders receiving one share of Everus for every four shares of MDU held as of October 21, 2024 [3] - Fractional shares of Everus were not distributed but sold on the open market, with net proceeds given as cash payments to stockholders [3] Trading Information - Everus common stock began trading on the NYSE under the ticker symbol "ECG," while MDU Resources continues to trade under "MDU" [4] - The distribution is expected to be tax-free for U.S. federal income tax purposes, except for cash received in lieu of fractional shares [4] Company Information - MDU Resources Group, Inc. is a member of the S&P SmallCap 600 Index and provides essential products and services through regulated energy delivery businesses [7] - Everus Construction Group offers a full spectrum of construction services, including electrical and mechanical contracting, and transmission and distribution services across the U.S. [8]

BISMARCK, N.D., Oct. 17, 2024 /PRNewswire/ -- Everus Construction Group, an industry-leading construction services provider, will hold an analyst and investor day at 10 a.m. EDT today at the New York Stock Exchange. At the event, management will provide an overview of the company's 4EVER strategic framework, investment highlights, operations, financial performance and anticipated growth prospects. The presentation will be followed by a question-and-answer session. Everus also is reiterating its 2024 guidanc ...

BISMARCK, N.D., Oct. 10, 2024 /PRNewswire/ -- MDU Resources Group, Inc. (NYSE: MDU) will webcast its third quarter 2024 earnings conference call at 2 p.m. ET Nov. 7. The company will release its third quarter results before U.S. financial markets open that day. The webcast can be accessed at www.mdu.com under the "Investors" heading. Select "Events & Presentations," and click "Q3 2024 Earnings Conference Call." After the conclusion of the webcast, a replay will be available at the same location. About MDU R ...

BISMARCK, N.D., Sept. 30, 2024 /PRNewswire/ -- MDU Resources Group, Inc. (NYSE: MDU) board of directors has approved the appointment of Anthony D. Foti as chief legal officer and corporate secretary, effective October 7. He will report directly to MDU Resources president and CEO, Nicole Kivisto, and succeed Paul R. Sanderson, who was previously announced as vice president, chief legal officer and secretary at Everus Construction Group. Foti brings a wealth of experience in corporate governance, securities r ...

BISMARCK, N.D., Sept. 18, 2024 /PRNewswire/ -- MDU Resources Group, Inc. (NYSE: MDU) today announced the retirement of Peggy Link, vice president and chief information officer, effective Jan. 10, 2025. Dyke Boese, currently director of enterprise infrasture and operations, will succeed Link. Joining MDU Resources in 2005, and throughout her tenure, Link has been a pivotal member of the company overseeing information technology functions for the company and its business units. Named as the first chief inform ...

BISMARCK, N.D., Sept. 12, 2024 /PRNewswire/ -- MDU Resources Group, Inc. (NYSE: MDU) today announced the public filing of a Form 10 registration statement with the Securities and Exchange Commission that identifies "ECG" as the ticker symbol under which Everus Construction Group, the company's construction services subsidiary, expects to be listed on the New York Stock Exchange. MDU Resources is on track to complete the planned spinoff of Everus into an independent, publicly traded company in late 2024. In ...

MDU Resources' (MDU) systematic investments should further improve the reliability of services to help better serve the company's growing customer base. The company's focus on regulated energy delivery should boost overall performance. However, this Zacks Rank #3 (Hold) company faces risks related to aging infrastructure and seasonality of business operations. MDU's Tailwinds MDU is focused on safely meeting customer demand by upgrading and expanding its electric and natural gas infrastructure. MDU Resource ...

BISMARCK, N.D., Sept. 3, 2024 /PRNewswire/ -- MDU Resources Group, Inc. (NYSE: MDU) today announced the anticipated board of directors for Everus Construction Group, effective upon completion of the planned spinoff of the construction services subsidiary into an independent, publicly traded company. The spinoff is expected to be complete in late 2024. Everus' post-spinoff board is expected to consist of seven directors, including six independent directors. These individuals are anticipated to move from MDU ...

MDU Resources Group (MDU) announced that its board of directors has approved a 4% increase in its quarterly dividend rate. The company has paid uninterrupted dividends for 86 years. The new dividend rate will be 13 cents per share compared with the previous quarter's 12.5 cents, payable on Oct 1, 2024, to stockholders of record as of Sept 12. This increase resulted in an annualized dividend of 52 cents per share compared with the previous level of 50 cents. The board continues to target a long-term dividend ...