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MDU Resources Group (MDU) Q3 FY2023 earnings: revenue $1.0 billion, down 0.2% on the year

MDU Resources Group Inc. (MDU) reported revenue of $1.0 billion for Q3 FY2023, the quarter ended 30 September 2023, down 0.2% on the same quarter a year earlier. Net income was $75 million, down 49.4% on the year, and diluted earnings per share $0.37. The figures are the company's own, from the 10-Q it filed with the SEC on 2 November 2023.

Revenue$1.0 billiondown 0.2%
Net income$75 milliondown 49.4%
Diluted EPS$0.37
QuarterQ3 FY2023ended 30 September 2023

The quarter, against the one before and a year earlier

LineQ3 FY2023Quarter beforeA year earlierChange on the year
Revenue1,001n/an/an/a
Selling, general and administrative739n/an/an/a
Operating income84.6n/an/an/a
Operating margin8.5%n/an/a
Interest expense32.1n/an/an/a
Pre-tax income91.5n/an/an/a
Income tax13.3n/an/an/a
Effective tax rate14.6%n/an/a
Net income74.9n/an/an/a
Net margin7.5%n/an/a
Diluted EPS$0.37n/an/an/a
$ 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 and capital returned

LineQ3 FY2023Quarter beforeA year earlierChange on the year
Operating cash flow102n/an/an/a
Capital expenditure138n/an/an/a
Free cash flow-36.6n/an/an/a
Free cash flow margin-3.7%n/an/a
Cash from investing-139n/an/an/a
Cash from financing8.9n/an/an/a
Depreciation and amortisation53.1n/an/an/a
Share-based compensation2.2n/an/an/a
Buybacks0.0n/an/an/a
Dividends paid45.3n/an/an/a
Dividend per share$0.12n/an/an/a
Diluted shares, weighted204mn/an/an/a
Shares outstanding at period end204mn/an/an/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

LineQ3 FY2023Quarter beforeA year earlierChange on the year
Shareholders' equity2,757n/an/an/a
Short-term borrowings306n/an/an/a
Debt2,341n/an/an/a
Operating lease liabilities52.9n/an/an/a
Other liabilities2,411n/an/an/a
Total liabilities and equity7,869n/an/an/a
Fixed assets5,020n/an/an/a
Goodwill489n/an/an/a
Intangible assets2.5n/an/an/a
Investments416n/an/an/a
Cash and equivalents32.5n/an/an/a
Receivables893n/an/an/a
Inventory80.2n/an/an/a
Other assets936n/an/an/a
Total assets7,869n/an/an/a

Questions

What was MDU Resources Group's revenue in Q3 FY2023?

MDU Resources Group (MDU) reported revenue of $1.0 billion for Q3 FY2023, the quarter ended 30 September 2023, down 0.2% on the same quarter a year earlier.

How much did MDU Resources Group earn in Q3 FY2023?

Net income for Q3 FY2023 was $75 million, down 49.4% on the year, and diluted earnings per share $0.37.

When did MDU Resources Group report Q3 FY2023 results?

MDU Resources Group filed its 10-Q for the quarter ended 30 September 2023 with the SEC on 2 November 2023.

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024 †Q2 FY2024 †Q3 FY2024 †Q4 FY2024 * †Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue1,001828588344290536675351315534606375
SG&A739358108100.0101106111113102107115114
Operating income84.618596.739.634.894.611330.339.810711647.9
Operating margin8%22%16%11%12%18%17%9%13%20%19%13%
Interest expense32.1n/a28.728.629.521.626.825.426.429.132.731.5
Pre-tax income91.519582.123.416.576.791.014.820.784.485.622.6
Tax rate15%-11%9%14%5%8%9%4%11%9%5%15%
Net income74.917110160.464.655.282.013.818.376.380.821.2
Net margin7%21%17%18%22%10%12%4%6%14%13%6%
Diluted EPS$0.37$0.83$0.49$0.30$0.32$0.26$0.40$0.07$0.09$0.37$0.39$0.10
Operating cash flow10215816513614060.521711757.980.6149116
Capital expenditure13814911711715812293.080.918041792.4101
Free cash flow-36.68.648.119.2-17.3-61.312436.5-122-33656.815.0
Buybacks0.00.00.00.00.00.0n/an/an/an/an/an/a
Dividends paid45.325.525.925.525.526.026.526.626.628.628.628.7
Shares outstanding204m204m204m204m204m204m204m204m204m204m209m210m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS 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 the share count are as they are. Free 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 30 September 2023, filed 2 November 2023, accession 0000067716-23-000112: the filing on EDGAR. All of MDU Resources Group Inc.'s filings: EDGAR company page.

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