MDU Resources Announces Five-Year Capital Investment Plan BISMARCK, N.D., Nov. 19, 2020 /PRNewswire/ -- MDU Resources Group, Inc. (NYSE: MDU) today announced that for the years 2021 through 2025 it expects to make capital investments totaling over $3.0 billion. MDU Resources Group Inc., formerly MDUR Newco, Inc., is engaged in regulated energy delivery and construction materials and services business. Higher transportation revenues from organic growth projects that were placed in service in 2019 and early 2020, as well as stronger demand for the company storage services were the primary drivers behind the earnings increase. Compare MDU Resources Group to its competitors by revenue, employee growth and other metrics at Craft. But certainly there's been -- it's largely returned to, again, nearly pre-pandemic levels on gas volumes. David L. Goodin -- President, Chief Executive Officer & Director. MDU Resources Group revenue breakdown by business segment: 7.7% from Electric, 19.1% from Natural Gas Distribution, 40.8% from Construction Materials and Contracting, 30.7% from Construction Services and 1.7% from Other This call will be available for replay, beginning at 5 PM Eastern Time today through 11:59 PM Eastern Time on August 19. Turning to our construction businesses, Construction Services reported record third quarter earnings of $29.8 million, compared to $21.1 million in the third quarter of 2019. This is an increase of over 41%. Our pipeline business also performed very well throughout the third quarter. Our customers are as varied as our experience. Operator: [Operator Instructions] And our first question is coming from the line of Ryan Levine of Citi. Again, the conference ID number for the replay is 1654638. And then actually we will end up with slightly higher year two volumes and a few contracts that will move, instead of through year 10, will move into year 11. Our balanced mix of regulated energy delivery and construction materials and services businesses continue, to allow us to post strong operating results, despite the challenges this pandemic has imposed on our nation. Knife River Corporation provides construction-related products and services, including aggregate, asphalt, building materials, cement, construction services, liquid asphalt, and ready-mix concrete in 13 states. Before he does that, I just want to maybe do a quick go back for your questions that related to North Bakken. This volume increase was partially offset by decreased industrial and commercial volumes attributable, to the slowdowns from the COVID-19 pandemic. The first year volumes will be 133,600 per day. Mdu Construction Services Group, Inc. is a Delaware Corporation filed on October 6, 1995. Construction Services also reported record third quarter revenues of $551 million, up from third quarter 2019 revenues of $479.6 million. First question on the Pipeline segment, can you attack exactly what were the dynamics and how the contract has changed related to the one-year delay for certain customers on the North Bakken expansion? MDU Resources Group General Information Description. What's Nearby TM Our Construction Materials business also reported record results for the third quarter, with $107.3 million in earnings, up from the prior year's $102.6 million. Our natural gas segment had higher operation and maintenance costs. MDU Construction Services Group employs more than 7,500 skilled employees across the country. In depth view into MDU Resources Group Revenue (Annual) including historical data from 1972, charts, stats and industry comps. © 2020 MDU Construction Services Group. These increases were partially offset by, lower non-regulated project revenues. We really haven't seen any change in margins. Bismarck, ND 58501-4092. And it's a demand in response. Get reviews, hours, directions, coupons and more for MDU Resources Group Inc at 1200 W Century Ave, Bismarck, ND 58503. That’s why Bismarck, N.D.-based MDU Construction Services Group, Inc. has relied on Spectrum® Construction Software to manage its multi-company needs, … Looking at our forecasts for the remainder of 2020 and our performance in the third quarter, we are also narrowing revenue guidance for both construction services and construction materials. Hey Ryan, yeah a big portion of our backlog being down this year. We expect the loss of this business segment in the third quarter each year due to seasonal impacts on customers' natural gas usage. Stock Advisor launched in February of 2002. After the speakers' remarks, there will be a question-and-answer period. MDU Resources' MDU Construction Services unit builds power lines, pipelines, and telecom systems. Ready-mix concrete pricing also continues to be strong in most markets. The bid schedule looks strong in most of our areas. Although the company believes that its expectations and beliefs are based on reasonable assumptions, actual results may differ materially. Sorry for that go back, but I think that just helps maybe a little more of the larger picture there. MDU Construction Services Group ranked No. Providing industry leading construction services across the country. 12 in 2019. MDU Resources' energy business is focused on natural gas transmission, gathering, and storage. 1150 W. Century Ave. Thanks, Ryan. The electric utility segment reported a strong third quarter earnings of $16.8 million, compared to $16.3 million for the same period in 2019. This project is scheduled for construction beginning in early 2021, pending regulatory and environmental permitting. We're dedicated to providing environmentally friendly and energy-efficient solutions that meet our clients’ technology and power requirements. What percentage of the overall customer volume expectation was amended in this revision of the contract? In addition to Dave and myself, members of our management team who will be available to answer questions today include, Dave Barney, President and CEO of Knife River Corporation; Jeff Thiede, President and CEO of MDU Construction Services Group; Nicole Kivisto, President and CEO of our Utility Group; Trevor Hastings, President and CEO of WBI Energy; and Stephanie Barth, Vice President, Chief Accounting Officer and Controller of MDU Resources. The pipeline business also continues to benefit from increased storage balances as customers take advantage of seasonal commodity price differentials. Operator? MDU Resources Group Inc (MDU) ... We have increased revenue guidance at our Construction Service business and expect margins to be higher at our Construction … The EBITDA at this business increased $8.5 million from the same period in 2019, to $172.3 million for the quarter. And the year before, it was April and May. And finally, turning to our Construction Materials business. Sure, Ryan. Curious, if you're seeing that continues. Partially offsetting these decreases was higher adjusted gross margin from approved rate recovery in certain jurisdictions. The conference ID number for the replay is 1654638. Fortunately, we now have more clarification on the FAST Act, which has been extended for one year and includes an additional $13.6 billion into the Highway Trust Fund and maintains funding levels of $47.1 billion for highway programs, along with another $12.3 billion for transit programs through 2021. It is mandatory to procure user consent prior to running these cookies on your website. The pipeline business had earnings of $8 million in the third quarter, compared to $7.7 million in the third quarter of 2019. MDU Resources Group, Inc. is a U.S.-based corporation supplying products and services through its regulated energy delivery and utilities related construction materials and services businesses. This increase is even more impressive, when considering last year's results, included gains on the sale of assets, which were approximately $4.4 million higher after-tax, than the current year. Would you be able to elaborate, as to the drivers of that? However, through a combination of rate, volume and/or term adjustments, the overall financial returns of this project really remain unchanged. MDU Construction Services Group Thanks, Dave. [Operator Instructions] This call will be available for replay beginning at 5:00 p.m. Eastern today through 11:59 p.m. Eastern on November 19th. We hope that, you are both, safe and healthy. Search for jobs at Montana-Dakota Utilities Corporation. MDU Construction Services Group is No. At this time, I would like to welcome everyone to the MDU Resources Group 2020 Third Quarter Conference Call. This business continues to benefit from increased revenue as a result of organic growth projects being brought online. All rights reserved. Our electrical, mechanical and fire suppression services companies have deep experience in a wide variety of work across the country. We added to our workforce over the quarter and are now operating with record employment of more than 15,600 employees. MDU Resources Group's main competitors include OGE Energy, U.S. As the pandemic continues to impact our nation, there have been demand decreases and pricing impacts that are delaying forecasted Bakken oil and associated natural gas production. We remain excited about the project. Thank you and we appreciate your continued interest in and support of MDU Resources. Search for other Electric Companies in Bismarck on The Real Yellow Pages®. David C. Barney -- President & Chief Executive Officer of Knife River Corporation. And there is currently a $3.2 million natural gas rate increase request pending before the Oregon Public Utilities Commission. So thanks for the questions, Ryan. With these recent organic growth projects, WBI now is able to move approximately 2.2 billion cubic feet of natural gas through its system each and every day. Concrete, National Fuel Gas Company and Nine Energy Service. 4. Definitions and reconciliations of non-GAAP measures to the nearest GAAP measure can be found in our earnings release issued last night. MDU Construction Services Group is part of MDU Resources Group, which provides essential products and services through two lines of business: regulated energy delivery and construction materials and services.MDU Resources Group has $7.7 billion in assets and more than $5.3 billion in annual revenues (as of Dec. 31, 2019). It hasn't to this point. As Jason said, with strong performance we saw in the third quarter including record earnings at both construction companies and strong results from our regulated energy delivery companies, we are raising our earnings per share target for this year to a range of $1.80 to $1.90 per share. In some areas, they've flattened. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. Our construction services bring power to communities and neighborhoods across the country. Weather was favorable early in the year. We have increased revenue guidance at our Construction Service business and expect margins to be higher at our Construction Materials business than prior year. That summarizes the financial highlights for the quarter. During the course of this presentation, we will make certain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. A lot of our regions were out in February and March. And we'll still be positive from a net income and an EBITDA perspective in that first year. But in most markets, they continue to hold or increase. Intermountain Gas Company, serving parts of Idaho, was acquired by MDU in 2008. Bismarck, ND 58503, MDU Construction Services Group Thanks for the question on that, Ryan. At this time, there are no further questions. Cumulative Growth of a $10,000 Investment in Stock Advisor, MDU Resources Group Inc (MDU) Q3 2020 Earnings Call Transcript @themotleyfool #stocks $MDU, MDU Resources Group Inc (MDU) Q2 2020 Earnings Call Transcript, MDU Resources Group Inc (MDU) Q2 2019 Earnings Call Transcript, Copyright, Trademark and Patent Information. We provide industry leading services with a focus on safety. Construction Services continues its run of outstanding performance with record revenues, record earnings and record backlog for the quarter. Opportunities for both inside and outside specialty contracting remain high with strong demand for hospitality, high-tech and natural disaster recovery work. We had Dave Barney dialed in from another state. MDU Construction Services Group. Our third quarter has historically been the strongest quarter for this business and 2020 was no exception with record earnings of $107.3 million this year. We build complex, diverse projects for our customers and we’re always looking for team members to contribute to our success. MDU Resources Group Inc Q1 2020 earnings call dated May 08, 2020Corporate Participants: Jason L. Vollmer — Vice President, Chief Financial Officer and Treasurer. And now I'll turn the call over to Dave, for his formal remarks. As always, MDU Resources is committed to operating with integrity and with a focus on safety, while creating superior shareholder value as we continue providing the essential services to our customers. Company Size: 5,500 These increases were partially offset by work slowdowns, caused by tropical storms and wildfires in certain markets. This marks the last call for questions. Construction operations, which generate the majority of revenue, provides construction and maintenance services, specializing in electric and communication lines, gas pipelines, fire suppression systems, and external lighting and traffic signals. MDU Resources Group, Inc. engages in the provision of natural resource products and related services to energy and transportation infrastructure. After Dave's remarks, we will open the line for questions. Returns as of 12/14/2020. The company, a unit of MDU Resources Group, provides electrical line construction, pipeline construction, inside electrical wiring, and cabling services.MDU Construction Services also manufactures and distributes related specialty equipment. And so there are certainly dynamics out there. And for your continued interest in MDU Resources. During the quarter, our regulatory team was very active with filings at both utility segments, producing several positive outcomes. If you would like to view the slides, you can find them on the Events & Presentations page under the Investors tab of our website at www.mdu.com. And then, as Dave noted in his opening remarks, basically we kept each of those customers' contracts on a net present value basis whole by then adjusting either some combination of rate volume or term. All lines have been placed on mute to prevent any background noise. We support a culture of community and camaraderie among our employees, and we take seriously our responsibility to foster a culture of safety through daily on-site safety meetings, human performance improvement training and safety stand-up events. Not that concerned about our backlog. This website uses cookies to improve your experience while you navigate through the website. I would like to turn the conference back over to management for closing remarks. Our combined utility business reported a net loss of $800,000 for the quarter, down from earnings of $700,000 in the third quarter of 2019. It seems like there was strong margins in the third quarter. As a reminder, we were able to post record results at our businesses, while all working under modified conditions as it relates to the COVID-19 pandemic. In Minnesota, the Public Utilities Commission approved a $2.6 million natural gas rate increase with IRM rates in effect since January 1 of this year. On an overall basis, MDU Resources and our companies had very strong results, reporting combined record third quarter earnings, all while operating under new protocols and safety measures related to the COVID-19 pandemic. MDU Construction Services Group has a line on the electrical contracting business. We experienced a seasonal loss of $17.6 million in our natural gas utility segment, which was $2 million higher loss than the previous year. David L. Goodin — President and Chief Executive Officer. It is headquartered in Bismarck, North Dakota, and operates in 48 states. And then Ryan, in the -- oh, go ahead. Now I'd like to move on to our construction platform, starting with our Construction Services. And so, over the look of the whole project from kind of a return hurdle standpoint, the product really remains full, other than we'll have lower year one volumes. But opting out of some of these cookies may have an effect on your browsing experience. 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