How MDU Resources’ materials business fared in 2017

By |  February 11, 2018

MDU Resources Group‘s construction materials business earned $123.4 million last year, up from $102.7 million in 2016.

The 2017 results include a benefit of $41.9 million from an adjustment to net deferred tax liabilities resulting from the Tax Cuts & Jobs Act.

According to the company, its construction materials business was impacted early in 2017 by above-average precipitation in many markets and natural disasters in some areas, but favorable weather in western markets early in the fourth quarter allowed the business to successfully complete a number of projects.

The construction materials business is evaluating acquisition opportunities in 2018, the company adds.

“We are very pleased with our strong finish to the year, irrespective of the benefit we saw from federal tax reform,” says David Goodin, president and CEO of MDU Resources. “We had a particularly strong fourth quarter, with our construction businesses successfully executing on projects under favorable weather conditions in October and November and our regulated energy delivery businesses benefiting from colder weather at the end of the quarter.

“In 2017, all our businesses performed very well, and we are optimistic about the momentum we have going into 2018 as we continue building a strong America,” Goodin adds. “We are looking forward to completing the growth projects scheduled at our utility and pipeline businesses, and successfully executing on the strong combined backlog at our construction businesses.”

As a whole, MDU Resources reported 2017 earnings from continuing operations of $284.2 million, up from $232.4 million. In the fourth quarter of 2017, earnings from continuing operations were $115.4 million, compared to $66.3 million in 2016.

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Kevin Yanik is editor-in-chief of Pit & Quarry. He can be reached at 216-706-3724 or

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