MDU Resources (MDU) Sees Q3, FY11 EPS Below Views
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Price: $21.32 +1.62%
EPS Growth %: +57.1%
Financial Fact:
Other income: 1.74M
Today's EPS Names:
CCEL, MHGU, PLG, More
EPS Growth %: +57.1%
Financial Fact:
Other income: 1.74M
Today's EPS Names:
CCEL, MHGU, PLG, More
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MDU Resources Group, Inc. (NYSE: MDU) today announced preliminary unaudited financial results for the third quarter of 2011.
The company expects to report third quarter earnings in the range of 33 cents to 35 cents per share, near the midpoint of the guidance provided in August. The Street sees earnings of 42 cents per share.
Hildestad said that based on year-to-date results and current commodity price forecasts for the fourth quarter, the company expects full-year 2011 earnings per share in the range of $1.05 to $1.15. The Street is looking for FY11 earnings of $1.27.
Comments:
“We are pleased with the performance of our businesses in a challenging economy, which highlights the value of our diversified business model,” said president and CEO Terry D. Hildestad. “We have maintained our financial strength. Our balance sheet is strong, we have significant liquidity and a good credit rating, are generating strong cash flows and pay a competitive dividend.
“We are focused on growth, and have identified a number of projects throughout our businesses that we believe will generate earnings, cash flows and additional value for our shareholders,” he said. “We are increasing liquids as a percentage of overall production at our natural gas and oil production business. The company is on pace to increase the number of rigs deployed from two at the beginning of 2011 to six by year end, with a target of 10 rigs deployed by the end of 2012. Our drilling programs, including both development and exploratory wells, are on schedule in our Bakken, Niobrara, Heath, Paradox, Big Horn and South Texas properties.
“Our utility business continues to be a reliable contributor to earnings and cash flows, and there are several investment opportunities in natural gas distribution as well as electric generation and transmission that are expected to lead to growth in our rate base over the next five years,” he said. “Our pipeline is working on a number of capacity expansion projects centered on rising levels of associated natural gas produced by development and exploration activity in the Bakken area.
“Our construction businesses have taken aggressive actions to reduce their cost structure, which positions them for margin and earnings expansion. Near-term these businesses have demonstrated tremendous flexibility and adaptability to remain solidly profitable in a difficult economy, and they have shown the potential for significantly higher earnings in stronger economic times.”
The company expects to report third quarter earnings in the range of 33 cents to 35 cents per share, near the midpoint of the guidance provided in August. The Street sees earnings of 42 cents per share.
Hildestad said that based on year-to-date results and current commodity price forecasts for the fourth quarter, the company expects full-year 2011 earnings per share in the range of $1.05 to $1.15. The Street is looking for FY11 earnings of $1.27.
Comments:
“We are pleased with the performance of our businesses in a challenging economy, which highlights the value of our diversified business model,” said president and CEO Terry D. Hildestad. “We have maintained our financial strength. Our balance sheet is strong, we have significant liquidity and a good credit rating, are generating strong cash flows and pay a competitive dividend.
“We are focused on growth, and have identified a number of projects throughout our businesses that we believe will generate earnings, cash flows and additional value for our shareholders,” he said. “We are increasing liquids as a percentage of overall production at our natural gas and oil production business. The company is on pace to increase the number of rigs deployed from two at the beginning of 2011 to six by year end, with a target of 10 rigs deployed by the end of 2012. Our drilling programs, including both development and exploratory wells, are on schedule in our Bakken, Niobrara, Heath, Paradox, Big Horn and South Texas properties.
“Our utility business continues to be a reliable contributor to earnings and cash flows, and there are several investment opportunities in natural gas distribution as well as electric generation and transmission that are expected to lead to growth in our rate base over the next five years,” he said. “Our pipeline is working on a number of capacity expansion projects centered on rising levels of associated natural gas produced by development and exploration activity in the Bakken area.
“Our construction businesses have taken aggressive actions to reduce their cost structure, which positions them for margin and earnings expansion. Near-term these businesses have demonstrated tremendous flexibility and adaptability to remain solidly profitable in a difficult economy, and they have shown the potential for significantly higher earnings in stronger economic times.”
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