Financial Performance - 2016 earnings from continuing operations were $232.4 million, compared to $175.7 million in 2015[10] - 2016 EPS from continuing operations was $1.19, compared to $0.90 in 2015[11] - Consolidated earnings for 2016 were $63.7 million, a significant improvement from a loss of $623.1 million in 2015[14] - Consolidated EPS for 2016 was $0.33, compared to a loss of $3.20 in 2015[16] Segment Performance - Construction materials and services earnings reached $136.6 million, a 21% increase[20] - Regulated energy delivery earnings were $92.7 million, a 27% increase[20] - Construction Materials GAAP Earnings increased from $89.1 million in 2015 to $102.7 million in 2016[24] - Construction Services GAAP Earnings increased from $23.8 million in 2015 to $33.9 million in 2016, a 43% increase[27] - Utility Electric & Natural Gas GAAP Earnings increased from $59.5 million in 2015 to $69.3 million in 2016[32] - Pipeline & Midstream GAAP Earnings increased from $13.3 million in 2015 to $23.4 million in 2016[38] Outlook and Guidance - 2017 earnings guidance is projected to be $1.10 to $1.25 per common share[20, 45] - The company has a $1.9 billion five-year capital program[44] - The company expects customer base to continue growing by 1-2 percent annually[36]

Financial Performance - 2018 - Earnings from continuing operations reached $284.2 million, with EPS at $1.45, including a $39.5 million or $0.20 per share benefit from tax reform[16] - Consolidated operations earnings were $280.4 million, with EPS at $1.43, including a $39.5 million benefit from tax reform[19] - The Electric & Natural Gas Utility reported earnings of $84.7 million, which includes a $6.4 million decrease resulting from tax reform[22, 23] - Pipeline & Midstream reported earnings of $28.5 million, including a $4.2 million tax benefit[25, 26] - Construction Services reported record earnings of $64.3 million and record revenues of $1.37 billion[28, 29] - Construction Materials reported earnings of $92.6 million and record revenues of $1.93 billion[31, 33] Outlook and Guidance - 2019 - The company anticipates EPS in the range of $1.35 to $1.55 for the consolidated business[51] - Construction Services expects revenue between $1.35 billion and $1.50 billion in 2019[47] - Construction Materials projects revenue between $2.0 billion and $2.15 billion in 2019[50] Capital Program and Dividends - The company has a total capital forecast of $2.642 billion for 2019-2023[53] - The 2018 annualized dividend was $0.81 per share[57]

2019 Earnings Overview - The company reported 2019 earnings of $272.3 million, compared to $335.5 million in 2018[17] - 2019 EPS was $1.39, compared to $1.69 in 2018[17] - The Electric & Natural Gas Utility reported record earnings of $94.3 million in 2019, a 11.3% increase from $84.7 million in 2018[20, 21] - The Construction Services group reported record earnings of $93.0 million in 2019, a 44.6% increase from $64.3 million in 2018, with record revenue of $1.85 billion compared to $1.37 billion in 2018[27, 28] - The Construction Materials group reported earnings of $120.4 million in 2019, a 29.9% increase from $92.6 million in 2018, with record revenue of $2.19 billion compared to $1.93 billion in 2018[30, 31] - The Pipeline & Midstream group reported earnings of $29.6 million in 2019, a 3.9% increase from $28.5 million in 2018[23, 25] 2020 Guidance and Outlook - The company initiated 2020 EPS guidance of $1.65 - $1.85[48] - The Construction Services group expects 2020 revenue in the range of $1.85 billion to $2.05 billion[44] - The Construction Materials group expects 2020 revenue in the range of $2.2 billion to $2.4 billion[47] - The Electric & Natural Gas Utility expects to grow rate base by 5% compounded annually over the next five years and customer base to continue growing by 1-2% annually[37]