MDU Resources Group reports Q1 earnings of $42.8 million
MDU Resources Group on April 30 reported first quarter consolidated earnings of $35.6 million, or 19 cents per common share, compared to $42.8 million, or 23 cents per common share for the first quarter of 2011. First quarter 2011 earnings include the effect of an approximate $4 million benefit related to the favorable resolution of certain tax matters.
“We achieved the upper range of our guidance for the quarter, even though we experienced some weather and pricing challenges,” said Terry D. Hildestad, president and chief executive officer of MDU Resources, said in a press release. “That is a good indication of the strength of our diversified business and a solid base on which to continue building our estimated $3.7 billion capital growth program over the next five years.