Mdu Resources Stock Price, News & Analysis

Knife River (NYSE: KNF) reported record financial results for Q4 and full-year 2024. The company achieved full-year revenue of $2.89 billion (up 2%), net income of $201.7 million (up 10%), and adjusted EBITDA of $463 million (up 7%).

Q4 2024 highlights include revenue of $657.2 million (up 2%), net income of $23.3 million (up 12%), and adjusted EBITDA of $81.2 million (up 12%). The company's backlog stands at $746 million, 13% higher than last year.

The company announced its pending acquisition of Strata for $454 million, expected to close in H1 2025. For 2025, Knife River provided guidance of $3.0-3.2 billion in revenue and $485-535 million in adjusted EBITDA, excluding the Strata acquisition impact.

MDU Resources Group reported strong financial performance for 2024, with net income of $281.1 million. The company's regulated energy delivery earnings increased 13.6% year-over-year to $189.7 million. Notable achievements include record annual pipeline transportation volumes (up 8.1%) and utility rate base growth of 6.8%.

Key segment performance includes: Electric utility earnings up 4.5% to $74.8 million, Pipeline segment earnings up 45% to $68.0 million, and Natural Gas Distribution earnings at $46.9 million. The company successfully completed the spinoff of Everus Construction Group on October 31, 2024.

Looking ahead, MDU Resources provided 2025 guidance with expected earnings per share of $0.88 to $0.98, planning $533 million in capital investment. The company's long-term strategy targets 7-8% compound annual growth in utility rate base and 6-8% in earnings per share.

Knife River (NYSE: KNF), a construction materials and contracting services company, has scheduled its fourth quarter and full-year 2024 earnings conference call for February 13, 2025, at 11 a.m. EST. The company will release its financial results before the NYSE market opens on the same day.

The earnings call will be accessible through a live webcast on the company's investor relations website, with presentation slides available. Participants can join via phone using the following details: Domestic: 1-800-549-8228, International: 1-289-819-1520, Conference ID: 23801. An on-demand replay will be available after the call.

MDU Resources Group (NYSE: MDU) has announced it will host its year-end 2024 earnings conference call on February 6, 2025, at 2 p.m. ET. The company will release its year-end financial results prior to the U.S. market opening on the same day. The webcast will be accessible through the company's website at www.mdu.com under the 'Investors' section, specifically in the 'Events & Presentations' area. A replay of the webcast will be made available at the same location after the call concludes.

Knife River (NYSE: KNF) has announced a definitive agreement to acquire Strata for $454 million, representing a high single-digit multiple based on Strata's projected 2025 Adj. EBITDA. Founded in 1910, Strata is a vertically integrated construction materials provider with over 75 aggregates locations, 28 ready-mix plants, three asphalt plants, and extensive rail assets in North Dakota and northwestern Minnesota.

The acquisition, expected to close in first half 2025, will be financed through cash on hand and long-term debt issuance. Knife River expects the deal to be accretive to its Adj. EBITDA margin within the first year. Strata, which employs over 900 team members during peak season, will integrate into Knife River's Central Segment, expanding the company's service territory in a familiar region.

Knife River (NYSE: KNF) has appointed Glenn R. Pladsen as Vice President and Chief Excellence Officer, effective January 1, 2025. Pladsen will lead core elements of the company's 'Competitive EDGE' strategy, focusing on EBITDA Margin Improvement, Discipline, Growth, and Excellence. In his current role as vice president of support services, Pladsen has been instrumental in launching Process Improvement Teams (PIT Crews) and the Knife River Training Center. The expanded role aims to achieve industry-leading safety performance and excellence across commercial and operational initiatives.

NorthWestern Energy (Nasdaq: NWE) has elected David L. Goodin to its board of directors, effective December 1, 2024. Goodin brings over 40 years of utility industry experience from MDU Resources Group, where he served as president and CEO until January 2024. The appointment temporarily increases the board to ten members, returning to nine on January 1, 2025, following Tony Clark's planned resignation. Goodin's extensive background includes leadership roles at MDU's Utility Group, Cascade Natural Gas, and various industry boards including Edison Electric Institute and American Gas Association.

MDU Resources Group announced a $3.1 billion capital investment plan for 2025-2029, representing a 15% increase from the previous 2024-2028 plan. The company will increase investments in electric and natural gas distribution segments by 47% compared to 2020-2024, focusing on infrastructure modernization and customer base growth of 1-2% annually. The combined rate base for electric and natural gas distribution is expected to grow 7-8% annually. Due to the expanded capital program, equity issuance is now anticipated in 2026, earlier than previously projected for 2027. The company maintains its long-term EPS growth target of 6-8%.

MDU Resources Group has elected Vernon A. Dosch to its board of directors, effective Nov. 15, 2024. Dosch brings over 45 years of experience in the electric utility and broadband industries. As a former leader at National Information Solutions Cooperative (NISC), he guided the company's growth from start-up to a premier technology provider. His expertise includes electric distribution, generation and transmission, and utility-related technology. This appointment aligns with MDU Resources' focus as a pure-play regulated energy delivery business. Dosch holds degrees in business administration, accounting, and management from the University of Mary.