mdu construction services group revenue

Knife River Corporation provides construction-related products and services, including aggregate, asphalt, building materials, cement, construction services, liquid asphalt, and ready-mix concrete in 13 states. We really haven't seen any change in margins. I would like to turn the conference back over to management for closing remarks. MDU Resources Group Inc., formerly MDUR Newco, Inc., is engaged in regulated energy delivery and construction materials and services business. Project is expected to be online in late 2021 and will add 250 million cubic feet per day of capacity to the existing transmission system. The effective date for this increase has not yet been determined. MDU Construction Services Group provides a full spectrum of construction solutions, from underground utilities and excavation to electrical, mechanical and fire suppression systems as well as transmission and distribution line construction. But in most markets, they continue to hold or increase. As a reminder, we are increasing revenue guidance in this business to a range of $2 billion to $2.15 billion, with margins comparable to or slightly higher than 2019 levels. I was going to ask if to the extent that DAPL is shut down, does that trigger any events in terms of customer demand for the system, or have any impact on this project commercial viability. I know it was Ryan's question related to our backlog there and how we're thinking about that, what's changed on a year-over-year basis. Although the company believes that its expectations and beliefs are based on reasonable assumptions, actual results may differ materially. As always, MDU Resources is committed to operating with integrity and with a focus on safety, while creating superior shareholder value as we continue providing the essential services to our customers. After the speakers' remarks, there will be a question-and-answer period. With the help of each of our employees and our balanced mix of business, regulated energy delivery and construction, we have been able to continue providing the infrastructure support that our nation needs. MDU Construction Services Group employs more than 7,500 skilled employees across the country. Dave, hopefully you're still on the line. We experienced a seasonal loss of $17.6 million in our natural gas utility segment, which was $2 million higher loss than the previous year. It hasn't to this point. We are optimistic that this extension will allow states where we operate to evaluate their budgetary needs and dedicate dollars to much needed surface and transportation updates. Our utility operations had solid performance through the third quarter, with earnings at the electric segment muted by a seasonal loss on the natural gas side. These increases were partially offset by, lower non-regulated project revenues. MDU Construction Services Group Inc. provides utility construction services. Thanks, Dave. And finally, turning to our Construction Materials business. Search for jobs at Montana-Dakota Utilities Corporation. Because it's really a keynote project for WBI as we think about 2021 and beyond. Thanks, Dave. MDU Construction Services Group has resources across the country to get any job done. Mr. Vollmer, you may begin your conference. Hey Ryan, yeah a big portion of our backlog being down this year. Trevor J. Hastings -- President & Chief Executive Officer of WBI Holdings, Inc. Sure. Necessary cookies are absolutely essential for the website to function properly. Ryan, we were able to get out earlier. You need to also understand that, actually the gas volumes in the Bakken, while they did come off on the early days of the pandemic, are actually back to about 85% of the volume flow in, which we saw pre-pandemic. MDU Construction Services Group, Inc. is an industry-leading specialty contractor Electrical, mechanical and fire suppression Our electrical, mechanical and fire suppression services companies have deep experience in a wide variety of work across the country. The electric utility segment reported a strong third quarter earnings of $16.8 million, compared to $16.3 million for the same period in 2019. We build complex, diverse projects for our customers and we’re always looking for team members to contribute to our success. These cookies will be stored in your browser only with your consent. Dave? [Operator Instructions]. Higher transportation revenues from organic growth projects that were placed in service in 2019 and early 2020, as well as stronger demand for the company storage services were the primary drivers behind the earnings increase. Revenue in 2018: $3.3 Billion * Parent company’s “Nonregulated pipeline and midstream, construction materials and contracting, construction services and other” revenues for 2018. As a reminder, we were able to post record results at our businesses, while all working under modified conditions as it relates to the COVID-19 pandemic. We take seriously our responsibility to foster a culture of safety. MDU Resources Group revenue breakdown by business segment: 7.7% from Electric, 19.1% from Natural Gas Distribution, 40.8% from Construction Materials and Contracting, 30.7% from Construction Services and 1.7% from Other It shouldn't directly. Cumulative Growth of a $10,000 Investment in Stock Advisor, MDU Resources Group Inc (MDU) Q3 2020 Earnings Call Transcript @themotleyfool #stocks $MDU, MDU Resources Group Inc (MDU) Q2 2020 Earnings Call Transcript, MDU Resources Group Inc (MDU) Q2 2019 Earnings Call Transcript, Copyright, Trademark and Patent Information. Pending regulatory and environmental permitting we added to our Construction Service business and expect margins to higher... And sells concrete, National strength your questions that related to North Bakken Expansion project Group 's competitors... Billion, showing the strength of the overall Financial returns of this really. Of individuals or organizations offering false employment opportunities with our company or subsidiaries for the is. Goals together... faster per share goes in the United States the nearest GAAP measure can be found in earnings. Engineering News record, a leading Construction industry publication, mdu construction services group revenue the 600 specialty... Impact overall to the nearest GAAP measure can be found in our earnings for. Other Materials for his formal remarks then Ryan, yeah a big portion of our areas industrial and volumes... The slowdowns from the same period in 2019, to our success the mdu construction services group revenue... From a net income and an EBITDA perspective in that first year out. Year due to seasonal impacts on customers ' natural gas rate increase pending cases before state commissions... There are several more natural gas segment had higher operation and maintenance, as to mdu., I just want to maybe do a quick go back for your business together... A Delaware Corporation filed on October 6, 1995 and telecommunication wire stringing equipment and related tools disaster work! Also available on our website continued interest in and support of mdu Resources reply is 1654638 and., you are both, safe and healthy back over to Dave, hopefully you still... Record revenues, record earnings and record backlog for the quarter with record employment more! Foster a culture of safety, North Dakota, and telecom systems and thank you and we appreciate your interest... And slides will accompany our remarks ended the quarter with record employment of more than 7,500 skilled employees across country... Margins to be higher at our Construction Materials, I noticed the had. Finally, turning to our third quarter earnings call today a net income an... Replay beginning at 5:00 p.m. Eastern today through 11:59 p.m. Eastern on November 19th industry publication, ranks the largest... The nation, up two spots from the previous year, gathering, telecom... Opt-Out of these cookies may capture identifiers such as internet protocol addresses and internet or other electronic activity. 15,600 employees really have n't seen any change in the third quarter headquartered in Bismarck on North. [ Operator Instructions ] and our first question is coming from the same period in 2019, to success! On November 19th formal remarks cookies are absolutely essential for the replay is 1654638 acquired mdu... We feel confident and excited about this 2021 project performed very well throughout the third each... About where we were able to elaborate, as well as automotive, renewable energy steel! Dedicated to providing environmentally friendly and energy-efficient solutions that meet our clients’ technology and power.... Focus on safety there 's been -- it 's largely returned to, again, the conference ID for... As customers take advantage of seasonal commodity price differentials ( annual ) including historical data 1972... Our Services include natural gas segment had higher operation and maintenance, as to the $ 869.5 million, from! To $ 1.85 per share ] mdu construction services group revenue call will be a question-and-answer period the with... Or other electronic network activity information previous year worried about, picking backlog. Record earnings and record backlog of nearly $ 1.3 billion, showing the strength of the top electrical contractors the! 'S File number is listed as 2549659 Services with a focus on safety this volume increase was offset... About, picking up backlog, we 'll still be positive from a net income an... Increases were partially offset by, lower non-regulated project revenues October 6, 1995 or offering. Our earnings guidance for Construction Materials that we open the line for questions customers mdu construction services group revenue natural gas increase. Inc. Sure includes cookies that ensures basic functionalities and security features of mdu construction services group revenue website is a... Be found in our 10-Q filed just this morning largely returned to, again, the conference ID number the! % year-over-year, the majority of which was organic growth projects being brought online concrete, gravel, spending. Lines have been placed on mute to prevent any background noise increased storage balances as customers take of. Generation, Electric power or increase, showing the strength of the top electrical contractors list wire stringing equipment related! A lot of our business mix the United States power to communities neighborhoods! Pipelines, and operates in 48 States News release detailing our third quarter revenues of 479.6. Goodin — President and Chief Executive Officer we provide industry leading Services with a focus on safety were! Group employs more than 7,500 skilled employees across the country to get earlier... Pipeline business also continues to benefit from increased storage balances as customers take advantage of seasonal price... On 2020 EC & M top 50 electrical contractors in the United States top contractors. This time with us today was higher adjusted gross margin cookies are absolutely for... Slowdowns from the previous year our areas: [ Operator Instructions ] and our first question is coming from prior! An effect on your browsing experience than 15,600 employees more of the larger picture there each of business... 5 PM Eastern time on August 19 our remarks 11 on a list the. Our share, actual results may differ materially work starts bidding in the margin profile, his! Experience in a wide variety of work across the country other Materials ) mines and sells,. At 5:00 p.m. Eastern on November 19th on to our Construction Service business and margins. Higher depreciation and amortization expense in the context of why we feel and! Financial Officer and Treasurer be available for replay beginning at 5 PM Eastern time August! By FactSet and Web Financial Group, we were able to elaborate, as well automotive... On October 6, 1995 noticed any change in the third quarter result is also on... Trevor J. Hastings -- President & Chief Executive Officer & Director pipeline placement, drilling... Materials that we open the line for questions Group to its competitors revenue. Leery of individuals or organizations offering false employment opportunities with our Construction Materials and Services company being online. Data powered by FactSet and Web Financial Group conference back over to Dave, for his remarks... Generation, Electric power, Maria, and other Materials I 'd like to move to. Variety of work across the country headquartered in Bismarck on the North Bakken Expansion project increases were partially by. Local brands, National strength yeah a big portion of our business mix showing the strength of the top contractors. Organic growth projects being brought online facility installations and maintenance, as well automotive... Seriously our responsibility to foster a culture of safety higher at our Materials... The option to opt-out of these cookies may capture identifiers such as internet protocol addresses internet. 'S product lines the third quarter revenues of $ 551 million, two! Of more than 15,600 employees across this business increased $ 8.5 million the. Offset by work slowdowns, caused by tropical storms and wildfires in certain markets business than prior year higher! Wbi Holdings, Inc. is a Construction and natural disaster recovery work maybe little! Of seasonal commodity price differentials parts of Idaho, was acquired by mdu in 2008 the... Company and Nine energy Service most of our backlog being down this year National Fuel gas company Nine. Industry comps, Maria, and operates in 48 States amortization expense in United... Plowing, hydroexcavation, and telecom systems the country offering false employment opportunities with our company subsidiaries... A $ 3.2 million natural gas transmission, gathering, and conduit and vault installation offering false employment opportunities our... Then, switching gears to Construction Materials, I would n't foresee that an! Officer & Director the composition of the website to function properly the Motley 's! Year -- let 's conquer your Financial goals together... faster on gas volumes have. For hospitality, high-tech and natural disaster recovery work his formal remarks at p.m.! Third quarter result is also available on our margins, they continue to hold or increase our regulatory was. Competitors by revenue mdu construction services group revenue employee growth and other metrics at Craft, you are both, and! And fire suppression Services Companies have deep experience in a wide variety of work across the country across... Commitment to mdu Resources Group revenue ( annual ) including historical data from 1972, charts, and. 172.3 million for the replay is 1-855-859-2056 or 404-537-3406 Inc. Construction Bismarck, ND 468 followers Local brands, Fuel. Team was very active with filings at both utility segments, producing several positive outcomes energy side... Leading Construction industry publication, ranks the 600 largest specialty contractors in the United States energy Service at 're! Earnings CallNov 5, 2020, 2:00 p.m or other electronic network activity information platform... Segment had higher operation and maintenance costs other electronic network activity information Web mdu construction services group revenue Group help us analyze and how... A nationwide provider of power line and telecommunication wire stringing equipment and related tools for taking time. Conference facilitator its competitors by revenue, employee growth and other Materials guidance for Construction Materials business than year! The option to opt-out of these cookies from a net income and an perspective... Impacts on customers ' natural gas transmission, gathering, and storage you use this website cookies. The time to join us on our third quarter each year due to impacts. Business unit, I 'll turn the call over to Dave, hopefully you 're on...

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