Core Insights - MDU Resources Group Inc. reported strong financial results for 2024, driven by regulated growth and key infrastructure projects following the spinoff of Everus Construction Group [1][2][7] Financial Performance - Net income for 2024 was $281.1 million, a decrease from $414.7 million in 2023 [2][7] - Earnings per share (diluted) dropped to $1.37 from $2.03 year-over-year [2][7] - Income from continuing operations was $181.1 million, down from $330.1 million in 2023 [2][7] - Adjusted income from continuing operations increased to $184.4 million from $150.8 million [2][7] Segment Performance Electric Utility Segment - Electric utility earnings rose by 4.5% year-over-year to $74.8 million [8][27] - Rate relief contributed an additional $7.1 million in revenue [8] - The segment faced challenges from lower volumes due to cooler weather and higher operational expenses [4][27] Natural Gas Distribution Segment - The natural gas distribution segment reported stable performance with net income of $29.4 million in Q4 2024, down from $30.5 million in Q4 2023 [30][31] - Higher retail sales volumes increased by 4.0%, primarily in residential and commercial sectors [30] - Rate relief in North Dakota and South Dakota supported revenue growth despite higher operational costs [30][31] Pipeline Segment - The pipeline segment achieved record annual results with net income of $68.0 million, a 45% increase from $46.9 million in 2023 [34] - Transportation volumes increased by 8.1% year-over-year, driven by new projects [7][34] - The segment benefited from strategic expansion projects and new Federal Energy Regulatory Commission approved rates [6][34] Regulatory Updates - Rate relief actions in North Dakota, South Dakota, and Montana contributed significantly to revenue increases [8][30] - The North Dakota Public Service Commission approved a settlement for an annual revenue increase of $9.4 million effective December 1, 2024 [8] Future Guidance - For 2025, the company expects earnings per share in the range of $0.88 to $0.98 [11] - Planned capital investment for 2025 is $533 million, with a long-term growth target of 7% to 8% on utility rate base [11][19]

Core Insights - MDU Resources (MDU) and Atmos Energy (ATO) are being compared for value investment opportunities, with MDU currently showing stronger potential for value investors [1][3]. Valuation Metrics - MDU has a forward P/E ratio of 17.87, while ATO has a forward P/E of 19.67, indicating MDU may be undervalued compared to ATO [5]. - MDU's PEG ratio is 2.62, compared to ATO's PEG ratio of 2.77, suggesting MDU has a more favorable earnings growth outlook relative to its valuation [5]. - MDU's P/B ratio is 1.17, while ATO's P/B ratio is 1.80, further supporting MDU's position as a more attractive investment based on valuation metrics [6]. Analyst Outlook - MDU has a Zacks Rank of 1 (Strong Buy) due to impressive earnings estimate revision activity, while ATO has a Zacks Rank of 2 (Buy), indicating a more favorable analyst outlook for MDU [3][7]. - MDU's overall Value grade is B, whereas ATO's Value grade is D, reinforcing the conclusion that MDU is the superior option for value investors at this time [6][7].

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BISMARCK, N.D., Jan. 16, 2025 /PRNewswire/ -- MDU Resources Group, Inc. (NYSE: MDU) will webcast its year-end 2024 earnings conference call at 2 p.m. ET Feb. 6. The company will release its year-end 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 "Year-End 2024 Earnings Conference Call." After the conclusion of the webcast, a replay will be available at the same location. About MDU Resou ...

Core Viewpoint - MDU Resources (MDU) is currently viewed as a more attractive investment option compared to Atmos Energy (ATO) for value investors based on earnings estimate revisions and valuation metrics [3][7]. Valuation Metrics - MDU has a forward P/E ratio of 18.11, while ATO has a forward P/E of 19.25 [5]. - MDU's PEG ratio is 2.66, compared to ATO's PEG ratio of 2.75, indicating MDU's expected earnings growth is more favorable [5]. - MDU's P/B ratio stands at 1.18, whereas ATO's P/B ratio is 1.77, suggesting MDU is more undervalued relative to its book value [6]. Analyst Outlook - MDU has a Zacks Rank of 1 (Strong Buy), indicating a more positive analyst outlook due to stronger earnings estimate revision activity compared to ATO, which has a Zacks Rank of 2 (Buy) [3][7]. Value Grades - MDU has a Value grade of B, while ATO has a Value grade of D, reflecting MDU's more attractive valuation metrics [6].

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 ...