Energy and construction materials company MDU Resources (NYSE: MDU) will be reporting earnings tomorrow morning. Here’s what investors should know.
MDU Resources missed analysts’ revenue expectations by 1.3% last quarter, reporting revenues of $1.05 billion, down 4% year on year. Despite the top line miss, it was a satisfactory quarter for the company, with an impressive beat of analysts’ EBITDA estimates.
Is MDU Resources a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting MDU Resources’s revenue to be flat year on year at $1.00 billion, in line with its flat revenue from the same quarter last year. Adjusted earnings are expected to come in at $0.21 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings.
Looking at MDU Resources’s peers in the construction and engineering segment, some have already reported their Q3 results, giving us a hint as to what we can expect. FTAI Infrastructure delivered year-on-year revenue growth of 3.2%, missing analysts’ expectations by 11.7%, and Great Lakes Dredge & Dock reported revenues up 63.1%, topping estimates by 3.5%. FTAI Infrastructure traded down 5.6% following the results.
Read our full analysis of FTAI Infrastructure’s results here and Great Lakes Dredge & Dock’s results here.
There has been positive sentiment among investors in the construction and engineering segment, with share prices up 2.7% on average over the last month. MDU Resources is down 41% during the same time and is heading into earnings with an average analyst price target of $16.80 (compared to the current share price of $16.59).
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