Welcome to our dedicated page for Mdu Resources news (Ticker: MDU), a resource for investors and traders seeking the latest updates and insights on Mdu Resources stock.
MDU Resources Group, Inc. reports developments for a regulated energy delivery business built around electric utility service, natural gas distribution and pipeline operations. Its utility operations provide electric and gas service across parts of the Pacific Northwest, Midwest, Rocky Mountain and northern Great Plains, while its pipeline business operates a natural gas transportation and storage network.
Recurring news includes quarterly earnings, weather effects on utility demand, capital-investment plans, common-stock dividend actions and updates from the pipeline segment. Company releases also address financing capacity and project planning tied to energy delivery infrastructure.
MDU Resources (NYSE: MDU) announced that its board increased the quarterly dividend on common stock to $0.145 per share, equivalent to an annualized dividend of $0.56 per share, up about 3.6% from the prior $0.14 quarterly dividend.
The board also reset the long-term dividend payout ratio target to 55%–65% of earnings, compared with the previous 60%–70% range, to provide more flexibility for capital investment, reduce future equity needs and support long-term growth. The dividend is payable October 1, 2026, to shareholders of record on September 10, 2026. MDU Resources reports an uninterrupted dividend record spanning more than eight decades, alongside utility operations serving over 1.2 million customers and a 3,800-mile natural gas pipeline and storage network.
MDU Resources (NYSE: MDU) reported second quarter 2026 consolidated net income of $21.3 million, up 55.5% from $13.7 million a year earlier, with diluted earnings per share rising 42.9% to $0.10. For the first six months, net income increased to $102.1 million from $95.7 million and diluted EPS to $0.49 from $0.47.
The company highlighted strong electric utility performance, with segment net income up to $14.7 million from $10.4 million, supported by Badger Wind Farm earnings of $3.3 million, new and interim rates, and an 8.2% increase in retail electric sales volumes, including data center demand. The natural gas distribution segment narrowed its typical seasonal loss to $3.9 million from $7.4 million, helped by new rates, 6.7% higher retail gas volumes and 1.6% customer growth, partly offset by higher interest expense.
The pipeline segment earned about $14.4 million versus $15.4 million, as lower other income and higher depreciation were only partially offset by stronger transportation revenue. Development of the proposed Bakken East Pipeline Project continued, with executed precedent agreements totaling nearly 1.2 billion cubic feet per day of firm transportation, optionality for nearly all original open season interest, and ongoing design for 1.4 billion cubic feet per day of capacity. A FERC Section 7(c) application is now anticipated in the fourth quarter of 2026, with projected in-service dates for Phase One in late 2029 and Phase Two in late 2030, and an estimated project cost of $2.7 billion to $3.2 billion.
Regulatory activity included a North Dakota electric general rate case seeking an annual revenue increase of approximately $34.5 million, interim rates requested at about $26.3 million from Sept. 1, 2026, and a new electric service agreement with Applied Digital Corp. for the 430-megawatt Polaris Forge 3 AI facility, pending commission approval. Montana interim electric rates reflecting an annual increase of about $10.4 million remain in effect with a $10.0 million settlement pending, and Wyoming electric rates reflect an approved $5.8 million annual increase effective April 1, 2026. On the gas side, MDU Resources filed a Washington multiyear rate case seeking $25.1 million and $18.1 million of annual revenue increases in years one and two, respectively, and a $12.2 million settlement is pending in Oregon.
For the six months ended June 30, 2026, operating revenues were $981.2 million versus $1,026.0 million, operating income was $163.6 million versus $143.2 million, and net cash provided by operating activities was $265.3 million compared with $334.9 million. The company outlined a 2026–2030 net capital program totaling an estimated $3.1 billion, including $1,082 million for electric, $1,352 million for natural gas distribution and $643 million for pipeline, and noted that potential Bakken East Pipeline investment would be incremental. MDU Resources reaffirmed its 2026 earnings guidance, expecting EPS between $0.93 and $1.00, based on assumptions including normal conditions, continued customer growth, execution of capital plans and constructive regulatory outcomes, and reiterated its long-term EPS growth objective of 6% to 8%.
Knife River Corporation (NYSE: KNF) reported second quarter 2026 revenue of $938.6 million, up 13% year-over-year, driven by 20% growth in contracting services and double-digit volume and gross profit growth across material product lines. Net income was $43.9 million, down 13%, with net margin at 4.7%. Adjusted EBITDA was $139.7 million, slightly below the prior year, and Adjusted EBITDA margin declined to 14.9%, pressured by higher energy costs, project timing, mix of contracting services and lower gains on asset sales.
Knife River increased 2026 guidance to revenue of $3.4–$3.6 billion and Adjusted EBITDA of $520–$560 million, and expects high-single-digit aggregates volume growth. Contracting services backlog rose sequentially to $1.2 billion. As of June 30, 2026, the company held $40.7 million in unrestricted cash, gross debt of $1.6 billion and net leverage of 3.2x.
MDU Resources (NYSE: MDU) plans to webcast its second quarter 2026 earnings conference call at 2 p.m. ET on August 6, 2026. The company will release its Q2 2026 financial results before U.S. financial markets open that same day.
According to MDU Resources, investors can access the live webcast at www.mdu.com under the "Investors" section by selecting "Events & Presentations" and clicking "Q2 2026 Earnings Conference Call". A replay of the webcast will be available at the same online location following the event.
Knife River (NYSE: KNF) will host its second quarter 2026 earnings conference call at 11 a.m. EDT on Tuesday, Aug. 4, 2026. Financial results will be released that morning before the NYSE opens. A live webcast and slides will be accessible at investors.kniferiver.com, with domestic dial-in 1-585-542-9983, international dial-in 1-833-461-5787, and Conference ID 137711168. An on-demand webcast replay will be available after the call.
Montana-Dakota Utilities, a subsidiary of MDU Resources (NYSE: MDU), signed an electric service agreement with Applied Digital (NASDAQ: APLD) to supply power to the proposed Polaris Forge 3 AI Factory near Center, North Dakota.
The campus could require 430 MW at full capacity, with Applied Digital paying energy purchase costs. Applied Digital targets initial operations in August 2027 and expects about 200 full-time jobs. Montana-Dakota Utilities already serves Applied Digital’s Polaris Forge 1 site, which has enabled $38.4 million in credits to North Dakota customers over three years. The agreement requires approval from the North Dakota Public Service Commission.
Minnkota Power Cooperative has joined the North Plains Connector utility consortium as its eighth member, signing a non-binding MOU to secure 150 MW of capacity on the planned 3,000 MW HVDC transmission line, subject to definitive agreements.
The multi-billion-dollar project, jointly developed by Grid United and ALLETE, will connect MISO, the Western Interconnection, and SPP, with construction expected in 2028 and operations in 2032, and is projected to create over 800 construction jobs in Montana and North Dakota.
MDU Resources (NYSE:MDU) declared a quarterly dividend of $0.14 per share, unchanged from the prior quarter. The dividend is payable on July 1, 2026 to shareholders of record on June 11, 2026.
The board continues to target a long-term dividend payout ratio of 60%–70% of earnings, signaling an ongoing commitment to returning cash to investors alongside utility and pipeline operations.
MDU Resources (NYSE: MDU) reported Q1 2026 consolidated net income of $80.8 million and diluted EPS of $0.39, with milder weather reducing results by about $0.03 per share. 2026 EPS guidance was affirmed at $0.93–$1.00. A binding open season for the proposed Bakken East Pipeline showed 1.4 Bcf/d of interest and project capex is now projected at $2.7–$3.2 billion, incremental to the company’s $3.1 billion forecast.
Knife River (NYSE: KNF) reported first quarter 2026 results: revenue $410.1M (up 16% YoY) and record first-quarter backlog of $1.2B. Adjusted EBITDA improved 16% to $(31.8)M with a 290-basis-point margin improvement. The company closed three aggregates-based acquisitions and provided full-year 2026 guidance of $3.3B–$3.5B revenue and $520M–$560M adjusted EBITDA.
Capital deployment included $174.2M of acquisitions and $35.0M on expansions in Q1; net leverage was 2.9x at March 31, 2026.