Second-quarter 2018 earnings up at MDU Resources

Earnings in MDU Resources Group‘s construction materials business were $24.3 million in the second quarter, up from $21.2 million in the second quarter of 2017.

The earnings increase reflects the benefits of federal tax reform, the company says.

Knife River Corp. is the construction materials subsidiary of MDU Resources.

As a whole, MDU Resources reported second-quarter earnings from continuing operations of $44.1 million, compared to $43.8 million of earnings in the second quarter of 2017.

“We are pleased with our ongoing growth and solid operational execution,” says David Goodin, president and CEO of MDU Resources. “Our construction services business is experiencing an exceptional year, with to-date earnings nearly 50 percent higher than last year. We had a record combined backlog of $1.62 billion of work at our construction services and construction materials businesses at the end of the second quarter.”

For the first six months of the year, MDU Resources had earnings from continuing operations of $86 million. That figure compares to $79.3 million for the first half of 2017.