Here are the 10-K annual reports from MDU Resources Group, Inc. (MDU) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow MDU and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full MDU filings page.
MDU Resources Group, Inc. files its Form 10-K describing its transformation into a pure-play regulated energy delivery company. It now focuses on three segments: electric, natural gas distribution and pipeline, all operating under state commissions and FERC oversight.
The company completed the separations of Knife River in 2023 and Everus in 2024, leaving a fully regulated profile. It serves about 146,550 electric customers and over 1.08 million natural gas customers, and owns a FERC-regulated pipeline with extensive storage capacity.
Key themes include heavy regulation of rates and returns, use of riders and trackers to reduce regulatory lag, growing exposure to data-center and RNG demand, and detailed disclosure of environmental, wildfire, weather, cybersecurity, capital market and aging-infrastructure risks that could affect future costs and earnings.