Company Reports Q1 Revenue of $606M, Below Expectations
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 07 2026
0mins
Reports Q1 revenue $606.0M, consensus $688.26M. "We delivered a strong first quarter when accounting for the impact of warmer weather across our service territory," said CEO Nicole Kivisto. "Milder conditions reduced volumes, and normalization mechanisms in several of our states helped offset those impacts, demonstrating the strength of our regulated businesses. At the same time, rate relief as well as recent investments such as Badger Wind Farm and our pipeline expansions contributed positive results. Additionally, we continue to see encouraging demand trends, including continued interest from data center development and strong interest in our proposed Bakken East Pipeline Project. Our ability to deliver consistent results in a dynamic energy environment speaks to the strength and operational discipline of our teams. Our employees remain focused on safety, reliability and cost-effectiveness, enabling us to deliver long-term value to our customers and stockholders."
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Analyst Views on MDU
Wall Street analysts forecast MDU stock price to rise
3 Analyst Rating
2 Buy
1 Hold
0 Sell
Moderate Buy
Current: 20.830
Low
20.00
Averages
21.00
High
22.00
Current: 20.830
Low
20.00
Averages
21.00
High
22.00
About MDU
MDU Resources Group Inc. provides electric and natural gas distribution services across the Pacific Northwest and Midwest. Its segments include electric, natural gas distribution, and pipeline. Its electric segment provides electric service at retail, serving residential, commercial, industrial and municipal customers in approximately 185 communities and adjacent rural areas. It has interests in approximately 15 electric generating units at 12 facilities and two small portable diesel generators. Its natural gas distribution segment sells natural gas at retail, serving residential, commercial and industrial customers in approximately 343 communities and adjacent rural areas across eight states. Its pipeline segment owns and operates WBI Energy Transmission, a FERC regulated pipeline, which consists of over 3,800 miles of natural gas transmission and storage lines. WBI Energy also owns and operates a non-regulated energy-related service business, specializing in cathodic protection.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Minnkota Joins North Plains Connector Utility Consortium
- New Member Addition: Minnkota Power Cooperative becomes the eighth member of the North Plains Connector utility consortium, signing a memorandum of understanding with Grid United's North Plains Connector LLC to secure 150 megawatts of capacity on the HVDC transmission line, indicating a proactive approach to future electricity market positioning.
- Project Impact: This initiative will be the first HVDC transmission line in the U.S. connecting three regional electricity markets, expected to significantly enhance grid reliability and resilience while broadening market connectivity to meet evolving energy demands.
- Economic Benefits: The North Plains Connector project is projected to create over 800 jobs during construction in Montana and North Dakota, reflecting a positive economic impact while also enhancing Minnkota's competitive edge in the electricity market.
- Construction Timeline: The project is expected to commence construction in 2028 and begin operations in 2032, marking a significant advancement in power infrastructure investment and further enhancing Minnkota's flexibility and responsiveness in electricity supply.
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- Dividend Yield: The forward yield of 2.48% reflects the company's attractiveness in the current market environment, potentially appealing to investors seeking stable income.
- Shareholder Record Date: The dividend will be payable on July 1, with a record date of June 11 and an ex-dividend date also on June 11, ensuring shareholders receive their payouts promptly.
- Future Earnings Guidance: MDU Resources affirms its 2026 earnings per share guidance of $0.93 to $1.00 while outlining a $2.7 billion to $3.2 billion Bakken East pipeline plan, demonstrating the company's confidence in future growth prospects.
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- Long-term Dividend Target: The company continues to target a long-term dividend payout ratio of 60% to 70% of earnings, indicating its focus on sustainable profitability and shareholder value.
- Broad Customer Base: MDU Resources Group serves over 1.2 million customers with safe, reliable, and environmentally responsible electric and natural gas services, highlighting its market position in the Pacific Northwest and Midwest regions.
- Pipeline Network Advantage: The company operates a more than 3,800-mile natural gas pipeline network and storage system, ensuring reliable energy delivery across the Northern Plains, further solidifying its critical role in the energy supply chain.
See More
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- Quarterly Dividend Unchanged: MDU Resources Group's board declared a quarterly dividend of 14 cents per share, unchanged from the previous quarter, reflecting the company's ongoing commitment to stable shareholder returns.
- Long-term Dividend Target: The board continues to target a long-term dividend payout ratio of 60% to 70% of earnings, indicating confidence in future profitability and a focus on shareholder value.
- Payment Date Announcement: The dividend is payable on July 1, 2026, to stockholders of record as of June 11, 2026, ensuring timely returns for investors and enhancing confidence in the company.
- Business Overview: MDU Resources Group serves over 1.2 million customers in electric and natural gas distribution, operating a 3,800-mile natural gas pipeline network, showcasing its reliability and commitment to responsible energy delivery.
See More
MDU Resources Reports Q1 2026 Earnings with Strong Pipeline Interest
- Earnings Highlights: MDU Resources reported Q1 2026 net earnings of $80.8 million or $0.39 per share, reflecting strong operational performance despite mild winter weather impacts that reduced earnings by approximately $0.03 per share, indicating robust business resilience.
- Pipeline Project Progress: The company received strong interest of approximately 1.4 billion cubic feet per day for the Bakken East Pipeline project during its binding open season, with about 40% contracted under precedent agreements, projecting total capital investment between $2.7 billion and $3.2 billion, showcasing market confidence in the project.
- Electric Service Agreements: MDU has signed electric service agreements totaling 580 megawatts, utilizing a capital-light business model that provides an average annual bill credit of approximately $70 to retail customers, which is expected to increase to over $200 once all volumes are online, enhancing customer loyalty.
- Future Outlook: Despite mild weather challenges, MDU affirms its 2026 earnings per share guidance range of $0.93 to $1.00, with a long-term EPS growth target of 6% to 8%, reflecting the company's confidence in future growth and a stable dividend payout ratio target.
See More
MDU (MDU) Q1 2026 Earnings Call Transcript
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- New Member Addition: Minnkota Power Cooperative becomes the eighth member of the North Plains Connector utility consortium, signing a memorandum of understanding with Grid United's North Plains Connector LLC to secure 150 megawatts of capacity on the HVDC transmission line, indicating a proactive approach to future electricity market positioning.
- Project Impact: This initiative will be the first HVDC transmission line in the U.S. connecting three regional electricity markets, expected to significantly enhance grid reliability and resilience while broadening market connectivity to meet evolving energy demands.
- Economic Benefits: The North Plains Connector project is projected to create over 800 jobs during construction in Montana and North Dakota, reflecting a positive economic impact while also enhancing Minnkota's competitive edge in the electricity market.
- Construction Timeline: The project is expected to commence construction in 2028 and begin operations in 2032, marking a significant advancement in power infrastructure investment and further enhancing Minnkota's flexibility and responsiveness in electricity supply.
See More
MDU Resources Declares $0.14 Quarterly Dividend in Line with Previous
- Quarterly Dividend Declaration: MDU Resources has declared a quarterly dividend of $0.14 per share, consistent with previous distributions, indicating the company's stable cash flow and commitment to shareholder returns.
- Dividend Yield: The forward yield of 2.48% reflects the company's attractiveness in the current market environment, potentially appealing to investors seeking stable income.
- Shareholder Record Date: The dividend will be payable on July 1, with a record date of June 11 and an ex-dividend date also on June 11, ensuring shareholders receive their payouts promptly.
- Future Earnings Guidance: MDU Resources affirms its 2026 earnings per share guidance of $0.93 to $1.00 while outlining a $2.7 billion to $3.2 billion Bakken East pipeline plan, demonstrating the company's confidence in future growth prospects.
See More
MDU Resources Group Declares Quarterly Dividend
- Quarterly Dividend Unchanged: MDU Resources Group's board declared a quarterly dividend of 14 cents per share, unchanged from the previous quarter, reflecting the company's ongoing commitment to stable shareholder returns.
- Long-term Dividend Target: The company continues to target a long-term dividend payout ratio of 60% to 70% of earnings, indicating its focus on sustainable profitability and shareholder value.
- Broad Customer Base: MDU Resources Group serves over 1.2 million customers with safe, reliable, and environmentally responsible electric and natural gas services, highlighting its market position in the Pacific Northwest and Midwest regions.
- Pipeline Network Advantage: The company operates a more than 3,800-mile natural gas pipeline network and storage system, ensuring reliable energy delivery across the Northern Plains, further solidifying its critical role in the energy supply chain.
See More
MDU Resources Group Declares Quarterly Dividend
- Quarterly Dividend Unchanged: MDU Resources Group's board declared a quarterly dividend of 14 cents per share, unchanged from the previous quarter, reflecting the company's ongoing commitment to stable shareholder returns.
- Long-term Dividend Target: The board continues to target a long-term dividend payout ratio of 60% to 70% of earnings, indicating confidence in future profitability and a focus on shareholder value.
- Payment Date Announcement: The dividend is payable on July 1, 2026, to stockholders of record as of June 11, 2026, ensuring timely returns for investors and enhancing confidence in the company.
- Business Overview: MDU Resources Group serves over 1.2 million customers in electric and natural gas distribution, operating a 3,800-mile natural gas pipeline network, showcasing its reliability and commitment to responsible energy delivery.
See More
MDU Resources Reports Q1 2026 Earnings with Strong Pipeline Interest
- Earnings Highlights: MDU Resources reported Q1 2026 net earnings of $80.8 million or $0.39 per share, reflecting strong operational performance despite mild winter weather impacts that reduced earnings by approximately $0.03 per share, indicating robust business resilience.
- Pipeline Project Progress: The company received strong interest of approximately 1.4 billion cubic feet per day for the Bakken East Pipeline project during its binding open season, with about 40% contracted under precedent agreements, projecting total capital investment between $2.7 billion and $3.2 billion, showcasing market confidence in the project.
- Electric Service Agreements: MDU has signed electric service agreements totaling 580 megawatts, utilizing a capital-light business model that provides an average annual bill credit of approximately $70 to retail customers, which is expected to increase to over $200 once all volumes are online, enhancing customer loyalty.
- Future Outlook: Despite mild weather challenges, MDU affirms its 2026 earnings per share guidance range of $0.93 to $1.00, with a long-term EPS growth target of 6% to 8%, reflecting the company's confidence in future growth and a stable dividend payout ratio target.
See More
MDU (MDU) Q1 2026 Earnings Call Transcript
See More
