MDU RESOURCES GROUP INC
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MDU Q1 2026 request
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| Metric | Q1 2026 | Q1 2025 | YoY |
|---|---|---|---|
| Revenue | 605,977 | 674,833 | -10.2% |
Show Business Segments breakouts |
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| Corporate And Other · Intersegment Elimination | -199 | -178 | -11.8% |
| Electric · Intersegment Elimination | -167 | -178 | +6.2% |
| Electric · Operating Segments | 121,018 | 112,261 | +7.8% |
| Natural gas distribution · Intersegment Elimination | -89 | -94 | +5.3% |
| Natural gas distribution · Operating Segments | 462,347 | 539,248 | -14.3% |
| Pipeline · Intersegment Elimination | -34,460 | -33,337 | -3.4% |
| Pipeline · Operating Segments | 22,612 | 23,323 | -3.0% |
| Pipeline · Operating Segments | 22,612 | 23,323 | -3.0% |
Show Consolidation Items breakouts |
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| Corporate Non Segment | 199 | 179 | +11.2% |
| Intersegment Elimination | -34,915 | -33,787 | -3.3% |
| Operating Segments | 640,693 | 708,441 | -9.6% |
| Utilities Operating Expense Gas And Petroleum Purchased | 239,391 | 317,157 | -24.5% |
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| Natural gas distribution · Intersegment Elimination | -34,420 | -33,323 | -3.3% |
| Natural gas distribution · Operating Segments | 239,391 | 317,157 | -24.5% |
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| Intersegment Elimination | -34,420 | -33,323 | -3.3% |
| Utilities Operating Expense Purchased Power | 46,067 | 43,748 | +5.3% |
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| Electric · Operating Segments | 46,067 | 43,748 | +5.3% |
| Selling, General & Administrative | 114,905 | 111,047 | +3.5% |
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| Corporate And Other · Intersegment Elimination | -199 | -178 | -11.8% |
| Corporate And Other · Operating Segments | 305 | -83 | +467.5% |
| Electric · Intersegment Elimination | -167 | -178 | +6.2% |
| Electric · Operating Segments | 28,705 | 28,407 | +1.0% |
| Natural gas distribution · Intersegment Elimination | -89 | -94 | +5.3% |
| Natural gas distribution · Operating Segments | 65,126 | 63,484 | +2.6% |
| Pipeline · Intersegment Elimination | -40 | -14 | -185.7% |
| Pipeline · Operating Segments | 20,769 | 19,239 | +8.0% |
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| Intersegment Elimination | -495 | -464 | -6.7% |
| Depreciation & Amortization | 54,179 | 51,261 | +5.7% |
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| Electric · Operating Segments | 19,627 | 17,183 | +14.2% |
| Natural gas distribution · Operating Segments | 26,333 | 26,122 | +0.8% |
| Pipeline · Operating Segments | 8,219 | 7,956 | +3.3% |
| Taxes Excluding Income And Excise Taxes | 35,730 | 38,757 | -7.8% |
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| Electric · Operating Segments | 5,520 | 4,815 | +14.6% |
| Natural gas distribution · Operating Segments | 26,452 | 30,628 | -13.6% |
| Pipeline · Operating Segments | 3,758 | 3,314 | +13.4% |
| Operating Expenses | 490,272 | 561,970 | -12.8% |
| Operating Income | 115,705 | 112,863 | +2.5% |
| Other Non-Operating Income (Expense) | 2,605 | 4,997 | -47.9% |
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| Corporate And Other · Intersegment Elimination | -805 | -986 | +18.4% |
| Corporate And Other · Operating Segments | 307 | 397 | -22.7% |
| Electric · Operating Segments | 451 | 992 | -54.5% |
| Natural gas distribution · Operating Segments | 2,270 | 3,301 | -31.2% |
| Pipeline · Intersegment Elimination | -115 | -123 | +6.5% |
| Pipeline · Operating Segments | -423 | 307 | -237.8% |
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| Intersegment Elimination | -920 | -1,109 | +17.0% |
| Interest Expense | 32,685 | 26,822 | +21.9% |
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| Corporate And Other · Operating Segments | 1,386 | 938 | +47.8% |
| Electric · Operating Segments | 11,911 | 7,887 | +51.0% |
| Natural gas distribution · Operating Segments | 16,286 | 14,876 | +9.5% |
| Pipeline · Intersegment Elimination | -920 | -1,109 | +17.0% |
| Pipeline · Operating Segments | 3,102 | 3,121 | -0.6% |
Show Consolidation Items breakouts |
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| Intersegment Elimination | -920 | -1,109 | +17.0% |
| Income Before Taxes | 85,625 | 91,038 | -5.9% |
| Income Tax Expense (Benefit) | 4,678 | 8,571 | -45.4% |
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| Corporate And Other · Operating Segments | -7,538 | -5,126 | -47.1% |
| Electric · Operating Segments | -4,912 | -3,731 | -31.7% |
| Natural gas distribution · Operating Segments | 12,426 | 12,301 | +1.0% |
| Pipeline · Operating Segments | 4,702 | 5,127 | -8.3% |
| Income Loss From Continuing Operations | 80,947 | 82,467 | -1.8% |
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| Corporate And Other · Operating Segments | 6,959 | 5,655 | +23.1% |
| Electric · Operating Segments | 14,551 | 14,944 | -2.6% |
| Natural gas distribution · Operating Segments | 44,183 | 44,658 | -1.1% |
| Pipeline · Operating Segments | 15,254 | 17,210 | -11.4% |
| Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity | -130 | -502 | +74.1% |
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| Corporate And Other · Operating Segments | -130 | -502 | +74.1% |
| Net Income | 80,817 | 81,965 | -1.4% |
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| Corporate And Other · Operating Segments | 6,829 | 5,153 | +32.5% |
| Electric · Operating Segments | 14,551 | 14,944 | -2.6% |
| Natural gas distribution · Operating Segments | 44,183 | 44,658 | -1.1% |
| Pipeline · Operating Segments | 15,254 | 17,210 | -11.4% |
Show Equity Components breakouts |
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| Retained Earnings | 80,817 | 81,965 | -1.4% |
| Income Loss From Continuing Operations Per Basic Share | 0.39 | 0.4 | -2.5% |
| EPS (Basic) | 0.39 | 0.4 | -2.5% |
| Income Loss From Continuing Operations Per Diluted Share | 0.39 | 0.4 | -2.5% |
| EPS (Diluted) | 0.39 | 0.4 | -2.5% |
| Wtd Avg Shares (Basic) | 205,438 | 204,142 | +0.6% |
| Wtd Avg Shares (Diluted) | 206,994 | 204,959 | +1.0% |
| Revenue | 599,313 | 678,020 | -11.6% |
Show Product Lines breakouts |
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| Natural Gas Storage | 5,467 | 6,030 | -9.3% |
| Natural Gas Storage · Pipeline | 5,467 | 6,030 | -9.3% |
| Natural gas transportation | 66,583 | 66,963 | -0.6% |
| Natural gas transportation · Natural gas distribution | 17,506 | 17,710 | -1.2% |
| Natural gas transportation · Pipeline | 49,077 | 49,253 | -0.4% |
| Other | 45,517 | 42,610 | +6.8% |
| Other · Corporate And Other | 199 | 179 | +11.2% |
| Other · Electric | 22,264 | 17,591 | +26.6% |
| Other · Natural gas distribution | 20,550 | 23,478 | -12.5% |
| Other · Pipeline | 2,504 | 1,362 | +83.8% |
Show Business Segments breakouts |
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| Corporate And Other · Intersegment Elimination | -199 | -178 | -11.8% |
| Electric · Intersegment Elimination | -167 | -178 | +6.2% |
| Electric · Operating Segments | 49,184 | 48,477 | +1.5% |
| Electric · Operating Segments | 10,010 | 9,164 | +9.2% |
| Electric · Operating Segments | 1,960 | 1,850 | +5.9% |
| Electric · Operating Segments | 39,401 | 39,685 | -0.7% |
| Electric · Operating Segments | 122,652 | 116,589 | +5.2% |
| Natural gas distribution · Intersegment Elimination | -89 | -94 | +5.3% |
| Natural gas distribution · Operating Segments | 157,368 | 192,331 | -18.2% |
| Natural gas distribution · Operating Segments | 12,412 | 15,462 | -19.7% |
| Natural gas distribution · Operating Segments | 246,326 | 289,235 | -14.8% |
| Natural gas distribution · Operating Segments | 454,073 | 538,122 | -15.6% |
| Pipeline · Intersegment Elimination | -34,460 | -33,337 | -3.4% |
| Pipeline · Operating Segments | 22,588 | 23,308 | -3.1% |
Show Consolidation Items breakouts |
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| Intersegment Elimination | -34,915 | -33,787 | -3.3% |
Show Major Customers breakouts |
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| Commercial utility sales | 206,552 | 240,808 | -14.2% |
| Industrial utility sales | 22,422 | 24,626 | -8.9% |
| Other utility sales | 1,960 | 1,850 | +5.9% |
| Residential utility sales | 285,727 | 328,920 | -13.1% |
| Other Revenue | 6,664 | -3,187 | +309.1% |
Show Business Segments breakouts |
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| Electric · Operating Segments | -1,634 | -4,328 | +62.2% |
| Natural gas distribution · Operating Segments | 8,274 | 1,126 | +634.8% |
| Pipeline · Operating Segments | 24 | 15 | +60.0% |
| Comprehensive Income | 80,957 | 82,157 | -1.5% |
Balance Sheet
| Metric | Q1 2026 | Q1 2025 | YoY |
|---|---|---|---|
| Current Assets | |||
| Cash & Cash Equivalents | 53,295 | 59,541 | -10.5% |
| Receivables Net Current | 222,967 | 269,246 | -17.2% |
| Regulatory Assets Current | 190,679 | 143,341 | +33.0% |
Show Regulatory Asset breakouts |
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| Asset Recoverable Gas Costs | 23,899 | 51,321 | -53.4% |
| Decoupling mechanisms | 22,497 | 4,769 | +371.7% |
| Electric fuel and purchased power deferral | 3,163 | 7,109 | -55.5% |
| Environmental compliance programs | 92,143 | 56,441 | +63.3% |
| Other Regulatory Assets Liabilities | 4,572 | 1,993 | +129.4% |
| Regulatory Clause Revenues Under Recovered | 15,327 | 4,806 | +218.9% |
| Renewable Energy Program | 29,078 | 16,902 | +72.0% |
| Inventory | 19,485 | 18,457 | +5.6% |
| Environmental Allowances Current | 25,238 | 23,039 | +9.5% |
| Other Assets Current | 47,886 | 27,927 | +71.5% |
| Total Current Assets | 559,550 | 541,551 | +3.3% |
| Non-Current Assets | |||
| Property Plant And Equipment Gross | 8,325,077 | 7,617,007 | +9.3% |
| Accumulated Depreciation Depletion And Amortization Property Plant And Equipment | 2,327,742 | 2,238,371 | +4.0% |
| Property, Plant & Equipment | 5,997,335 | 5,378,636 | +11.5% |
| Goodwill | 345,736 | 345,736 | 0.0% |
| Regulatory Assets Noncurrent | 293,973 | 312,008 | -5.8% |
Show Regulatory Asset breakouts |
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| Asset Retirement Obligation Costs | 48,002 | 46,920 | +2.3% |
| Covid-19 deferred costs | 3,637 | 3,926 | -7.4% |
| Deferred Income Tax Charges | 12,145 | 12,228 | -0.7% |
| Environmental Restoration Costs | 28,466 | 27,443 | +3.7% |
| Loss On Reacquired Debt | 1,657 | 1,865 | -11.2% |
| Other Regulatory Assets Liabilities | 3,693 | 4,797 | -23.0% |
| Pension And Other Postretirement Plans Costs | 135,222 | 142,065 | -4.8% |
| Regulatory Clause Revenues Under Recovered | 61,151 | 72,764 | -16.0% |
| Long Term Investments | 117,920 | 117,599 | +0.3% |
| Environmental Allowances Noncurrent | 148,896 | 86,130 | +72.9% |
| Other Non-Current Assets | 220,526 | 179,814 | +22.6% |
| Assets Noncurrent | 7,124,386 | 6,419,923 | +11.0% |
| Total Assets | 7,683,936 | 6,961,474 | +10.4% |
| Current Liabilities | |||
| Current Portion of Long-Term Debt | 214,700 | 161,700 | +32.8% |
| Accounts Payable | 124,377 | 109,133 | +14.0% |
| Regulatory Liability Current | 148,409 | 140,165 | +5.9% |
Show Regulatory Liability breakouts |
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| Deferred Income Tax Charges | 2,228 | 2,087 | +6.8% |
| Demand Charges | 9,684 | 10,000 | -3.2% |
| Environmental compliance programs | 90,692 | 65,680 | +38.1% |
| Margin sharing | 3,895 | 3,562 | +9.3% |
| Natural gas costs refundable through rate adjustments | 35,288 | 46,744 | -24.5% |
| Other Regulatory Assets Liabilities | 4,457 | 5,477 | -18.6% |
| Provision for rate refund | 1,062 | 3,833 | -72.3% |
| Renewable Energy Program | 1,103 | 2,782 | -60.4% |
| Taxes Payable Current | 44,217 | 65,218 | -32.2% |
| Dividends Payable Current | 28,659 | 26,563 | +7.9% |
| Employee Related Liabilities Current | 20,097 | 18,175 | +10.6% |
| Accrued Environmental Loss Contingencies Current | 24,086 | 19,561 | +23.1% |
| Other Liabilities Current | 113,797 | 94,061 | +21.0% |
| Total Current Liabilities | 718,342 | 634,576 | +13.2% |
| Non-Current Liabilities | |||
| Long-Term Debt | 2,381,296 | 2,031,976 | +17.2% |
| Deferred Tax Liabilities | 448,260 | 429,825 | +4.3% |
| Regulatory Liability Noncurrent | 474,957 | 463,879 | +2.4% |
Show Regulatory Liability breakouts |
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| Accumulated deferred investment tax credit | 22,607 | 19,301 | +17.1% |
| Cost recovery mechanisms | 43,896 | 33,373 | +31.5% |
| Deferred Income Tax Charges | 173,860 | 182,742 | -4.9% |
| Other Regulatory Assets Liabilities | 2,718 | 2,252 | +20.7% |
| Pension And Other Postretirement Plans Costs | 4,776 | 4,862 | -1.8% |
| Removal Costs | 227,100 | 221,349 | +2.6% |
| Asset Retirement Obligations Noncurrent | 436,209 | 410,715 | +6.2% |
| Accrued Environmental Loss Contingencies Noncurrent | 135,857 | 75,077 | +81.0% |
| Other Non-Current Liabilities | 185,377 | 172,290 | +7.6% |
| Liabilities Noncurrent | 4,061,956 | 3,583,762 | +13.3% |
| Long-Term Debt | 2,595,996 | 2,193,676 | +18.3% |
Show Fair Value By Measurement Basis breakouts |
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| Carrying Reported Amount Fair Value Disclosure | 2,595,996 | 2,193,676 | +18.3% |
| Stockholders' Equity | |||
| Common Stock Value Outstanding | 209,006 | 204,331 | +2.3% |
| Additional Paid In Capital Common Stock | 1,550,364 | 1,470,512 | +5.4% |
| Retained Earnings | 1,160,843 | 1,084,899 | +7.0% |
| Accumulated Other Comprehensive Income | -16,575 | -16,606 | +0.2% |
| Total Stockholders' Equity | 2,903,638 | 2,743,136 | +5.9% |
Show Equity Components breakouts |
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| Accumulated Other Comprehensive Income | -16,575 | -16,606 | +0.2% |
| Additional Paid In Capital | 1,550,364 | 1,470,512 | +5.4% |
| Common Stock | 209,006 | 204,331 | +2.3% |
| Retained Earnings | 1,160,843 | 1,084,899 | +7.0% |
| Total Liabilities & Equity | 7,683,936 | 6,961,474 | +10.4% |
Cash Flow Statement
| Metric | YTD Q1 2026 | YTD Q1 2025 | YoY |
|---|---|---|---|
| Operating Activities | |||
| Deferred Income Taxes | 8,191 | -13,687 | +159.8% |
| Provision For Doubtful Accounts | 2,622 | 3,152 | -16.8% |
Show Business Segments breakouts |
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| Electric · Trade Accounts Receivable | 952 | 939 | +1.4% |
| Natural gas distribution · Trade Accounts Receivable | 1,670 | 2,213 | -24.5% |
Show Accounts Notes Loans And Financing Receivable By Receivable Type breakouts |
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| Trade Accounts Receivable | 2,622 | 3,152 | -16.8% |
| Amortization of Financing Costs | 366 | 309 | +18.4% |
| Stock-Based Compensation | 1,932 | 1,646 | +17.4% |
| Pension And Other Postretirement Benefits Expense Reversal Of Expense Noncash | 348 | -267 | +230.3% |
| Unrealized Gain Loss On Investments | 505 | 470 | +7.4% |
| Increase Decrease In Receivables | 33,042 | 15,128 | +118.4% |
| Change in Inventory | 19,303 | 26,590 | -27.4% |
| Increase Decrease In Other Current Assets | -14,344 | 92,739 | -115.5% |
| Change in Accounts Payable | -14,751 | -28,034 | +47.4% |
| Increase Decrease In Other Current Liabilities | -11,182 | -11,324 | +1.3% |
| Pension And Other Postretirement Benefit Contributions | -220 | -385 | +42.9% |
| Increase Decrease In Other Noncurrent Assets And Liabilities Net | -11,600 | -2,091 | -454.8% |
| Net Cash Provided By Used In Operating Activities Continuing Operations | 149,338 | 217,974 | -31.5% |
| Cash Provided By Used In Operating Activities Discontinued Operations | -130 | -502 | +74.1% |
| Net Cash from Operations | 149,208 | 217,472 | -31.4% |
| Investing Activities | |||
| Payments To Acquire Productive Assets | -92,412 | -93,034 | +0.7% |
| Payments For Proceeds From Removal Costs | -738 | 869 | -184.9% |
| Payments To Acquire Investments | -2,048 | -2,574 | +20.4% |
| Proceeds From Sale And Maturity Of Available For Sale Securities | 4,000 | — | — |
| Net Cash from Investing | -91,198 | -94,739 | +3.7% |
| Financing Activities | |||
| Proceeds From Issuance Of Long Term Debt | 138,449 | — | — |
| Repayments Of Long Term Debt | -218,937 | -99,104 | -120.9% |
| Debt Issuance Costs | -525 | -5 | -10400.0% |
| Proceeds From Issuance Of Common Stock | 81,159 | — | — |
| Payments Of Dividends | -28,614 | -26,511 | -7.9% |
| Tax Withholding for Share Compensation | -4,459 | -4,476 | +0.4% |
| Net Cash from Financing | -32,927 | -130,096 | +74.7% |
| Supplemental | |||
| Interest Paid | 23,508 | 19,929 | +18.0% |
| Income Taxes Paid | -1,676 | 172 | -1074.4% |
| Unpaid Capital Expenditures | 35,496 | 23,917 | +48.4% |
| Right Of Use Asset Obtained In Exchange For Operating Lease Liability | 68 | 129 | -47.3% |
| Other Cash Flow | |||
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect | 25,083 | -7,363 | +440.7% |
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents | 53,295 | 59,541 | -10.5% |
Values in thousands USD. Source: SEC EDGAR 10-Q filing.