Company Strategy and Outlook - MDU Resources aims for a long-term EPS growth rate of 6%-8%[10] - The company targets an annual dividend payout ratio of 60%-70%[10] - MDU anticipates continued customer growth in the electric and natural gas sectors at a rate of 1%-2% annually[12][26] - The company narrows its 2025 earnings per share guidance to a range of $0.88 to $0.95[24] Regulatory Updates and Projects - Natural Gas Distribution in Montana: A settlement agreement is pending for an 8.6% or $7.3 million increase, with interim rates of 10.25% or $7.7 million already effective[13] - Natural Gas Distribution in Wyoming: A settlement agreement was approved for an 11.7% or $2.1 million increase, with rates effective August 1, 2025[13] - The company has signed electric service agreements for 580 MW of data center load[12][16] - MDU has a 49% ownership interest representing 122.5 MW in the Badger Wind Project, with a total capacity of 250 MW, and an estimated cost of $294 million[12][21] Financial Performance - MDU Resources Group's net income for the second quarter of 2025 was $14.1 million, or $0.07 per share, compared to $20.2 million, or $0.10 per share in 2024[31] - The Electric Utility reported earnings of $10.4 million, with retail sales volumes increasing 12.0%[34][35] - The Natural Gas Utility experienced a seasonal loss of $7.4 million, with customer count increasing 1.5% year-over-year[37][38] - The Pipeline segment reported earnings of $15.4 million[40]

Financial Performance - MDU Resources Group's net income decreased from $82.5 million in 2024 to $74.7 million in 2025 [31] - Earnings per share decreased from $0.40 in 2024 to $0.37 in 2025 [31] - Income from continuing operations decreased from $100.9 million in 2024 to $82.0 million in 2025 [31] - Electric Utility earnings decreased from $17.9 million in 2024 to $15.0 million in 2025 [36] - Natural Gas Utility earnings increased from $40.1 million in 2024 to $44.7 million in 2025 [39] - Pipeline earnings increased from $15.1 million in 2024 to a record $17.2 million in 2025 [42] Regulatory and Operational Updates - Natural Gas Distribution in Washington saw a rate increase of 7.9%, resulting in $29.8 million in additional annual revenue [13] - Natural gas customer count increased 1.5% year-over-year [40] - The company has 580 MW of data center load under signed electric service agreements [12, 16] - The company is considering purchasing a 49% ownership interest in Badger Wind Farm, representing 122.5 MW of the total 250 MW capacity [21]