MDU Resources Group (MDU) FY2019 results: revenue $5.3 billion, up 17.8% on the year
MDU Resources Group Inc. (MDU) reported revenue of $5.3 billion for fiscal 2019, the year ended 31 December 2019, up 17.8% on the year before. Net income was $335 million, up 23.2%, and diluted earnings per share $1.69. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2020.
Revenue
$5.3 billion
+17.8% on the year
FY2012FY2019
Operating margin
9.0%
8.9% a year earlier
FY2012FY2019
Net income
$335 million
+23.2% on the year
FY2012FY2019
Diluted EPS
$1.69
+21.6% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
5,337
4,532
4,443
+17.8%
Selling, general and administrative
3,895
3,256
3,135
+19.6%
Operating income
481
402
424
+19.8%
Operating margin
9.0%
8.9%
9.5%
Interest expense
98.6
84.6
82.8
+16.5%
Pre-tax income
398
317
350
+25.7%
Income tax
63.3
47.5
65.0
+33.3%
Effective tax rate
15.9%
15.0%
18.6%
Net income
335
272
281
+23.2%
Net margin
6.3%
6.0%
6.3%
Diluted EPS
$1.69
$1.39
$1.43
+21.6%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
542
500
448
+8.5%
Capital expenditure
576
568
341
+1.4%
Free cash flow
-33.8
-68.3
107
Free cash flow margin
-0.6%
-1.5%
2.4%
Cash from investing
-604
-711
-214
Cash from financing
74.1
230
-245
-67.8%
Depreciation and amortisation
256
220
207
+16.3%
Share-based compensation
7.4
n/a
n/a
Buybacks
0.0
5.0
1.7
Dividends paid
160
155
151
+3.7%
Dividend per share
$0.81
$0.80
$0.78
+2.5%
Diluted shares, weighted
199m
196m
196m
+1.3%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
2,847
2,567
2,429
+10.9%
Short-term borrowings
0.0
0.0
n/a
Debt
2,243
2,109
1,715
+6.4%
Operating lease liabilities
83.7
0.0
n/a
Other liabilities
2,509
2,313
2,191
+8.5%
Total liabilities and equity
7,683
6,988
6,335
+9.9%
Fixed assets
4,917
4,579
4,079
+7.4%
Goodwill
681
665
632
+2.5%
Intangible assets
15.2
10.8
3.8
+41.0%
Investments
149
139
138
+7.2%
Cash and equivalents
66.5
53.9
34.6
+23.2%
Receivables
837
723
727
+15.7%
Inventory
278
287
227
-3.1%
Other assets
739
531
494
+39.2%
Total assets
7,683
6,988
6,335
+9.9%
10-K for the year ended 31 December 2019, filed 21 February 2020: the filing.